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Naftogaz sees net loss fall by 85.7% in H1, posts UAH 8.5 bln profit in Q2
KYIV. Oct 28 (Interfax-Ukraine) – NJSC Naftogaz Ukrainy in January-June 2021 reduced its net loss seven times (85.7%, by UAH 9.891 billion) compared to the same period in 2020 – to UAH 1.65 billion, according to the company’s consolidated financial statements.
Naftogaz notes that the reporting is compiled in accordance with international standards, with a report on PricewaterhouseCoopers (PwC) without comments.
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 turn, in a press release, the company notes that the preliminary information on making a profit in January-March 2021 in the amount of UAH 12.6 billion, published in May by the previous management of the company, was incorrect.
"Firstly, this information concerned not consolidated, but separate statements. Secondly, its review by the auditors was not carried out at all," the press service explained.
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) – to UAH 105.56 billion.
In terms of segments, in January-June 2021, sales revenue/adjusted EBITDA were as follows: exploration and production (UAH 45.289 billion/UAH 26.642 billion), trading (UAH 65.165 billion/minus UAH 15.846 billion), Ukrnafta (UAH 15.041 billion/UAH 2.462 billion), transit organization (UAH 17.28 billion/UAH 243 million), transportation, processing, sale of oil and oil products (UAH 7.795 billion/UAH 1.4 billion), retail business (UAH 5.642 billion/minus UAH 240 million), gas storage (UAH 1.748 billion/minus UAH 384 million), other (UAH 1.262 billion/minus UAH 1.358 billion), elimination (minus UAH 53.662 billion).
The trading segment includes import, sale, trading and wholesale of natural gas by the group, while the retail business segment includes the supply of gas for the needs of the population and the distribution of gas.
