Naftogaz does not rule out issue of eurobonds in next six months – company head

KYIV. Oct 28 (Interfax-Ukraine) – Yuriy Vitrenko, the head of the board of NJSC Naftogaz Ukrainy, does not rule out the placement of eurobonds by the company in the next six months, but the market situation will still be studied to make a decision.

"Since we see that Naftogaz is becoming profitable again – UAH 8.5 billion in the second quarter – this means that the financial statements show positive trends and give expectations for the successful placement of eurobonds. At the same time, we have not decided yet, whether we will place eurobonds this year – we will look at the conjuncture," he said during a conference devoted to the released financial statements.

"This year or next we plan to issue eurobonds. The results that we see allow us to speak about the successful placement, but we also see risks," Vitrenko added.

As reported, Naftogaz Ukrainy in January-June 2021 reduced its net consolidated loss seven times (by UAH 9.891 billion) compared to the same period in 2020 – to UAH 1.65 billion. Thus, in the second quarter of 2021, Naftogaz received a net profit of UAH 8.5 billion against a loss of UAH 14.721 billion in April-June 2020.

In the first half of 2021, Naftogaz’s revenues increased by 46.4% (by UAH 33.672 billion) compared to January-June 2020 – to UAH 106.227 billion, in particular sales revenues increased by 47.8% (by UAH 34.157 billion) – up to UAH 105.56 billion.