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Naftogaz Ukrainy sees 51.5% rise in net revenue in 2015

Naftogaz Ukrainy sees 51.5% rise in net revenue in 2015National joint-stock company Naftogaz Ukrainy saw a 51.5% in net revenue in 2015, to UAH 112.672 bln.

According to an unaudited financial report published this week, its revenue from gas wholesale last year reached UAH 66.866 bln, from gas transit – UAH 45.471 bln and other operations – UAH 424.722 mln.

Gross profit amounted to UAH 12.534 mln, while the holding saw a gross loss of UAH 10.971 bln in 2014.

Net loss in 2015 decreased by 72.2%, to UAH 25.096 bln.

The press service said that loss of UAH 25.1 bln in 2015 was seen due to sale of imported gas to households and heating supply companies (UAH 25.7 bln), loss from non-operational currency exchange difference due to the hryvnia devaluation (UAH 16.9 bln), loss from financial operations (UAH 7.9 bilion), loss from participation in capital (UAH 4.8 bln), other operating expenses adjusted down by revenue (UAH 4.8 bln) and loss from unlawful gas consumption in the Anti-Terrorist Operation (ATO) zone (UAH 2.1 bln).

Transit services brought profit (UAH 20.7 bln), as well as sale of Ukrainian-produced gas to households (UAH 8.3 bln) and sale of gas to industrial consumers, taking into account administrative and storage expenses (UAH 8.1 bln).

The press service said Naftogaz's debt on credits pegged to foreign currency was around $2.1 bln as of early 2015 and $1.9 bln as of late 2015. The hryvnia exchange rate to the U.S. dollar changed from UAH 15.77/$1 from UAH 24/$1, which entailed the increase in the company's debt in hryvnias to UAH 16.9 bln.

Non-current liabilities in 2015 increased by 33.2%, to UAH 35.436 bln and current liabilities – by 10.7%, to UAH 74.415 bln.

Non-current liabilities included bank loans of UAH 34.825 bln and current liabilities included bank loans of UAH 14.824 bln. Current debt on loans and bonds amounted to UAH 16.779 bln.

The balance value of loans in U.S. dollars totaled UAH 45.177 bln as of December 31, 2015 (9.3% per annum), in hryvnias – UAH 21.932 bln (24.7% per annum) and in euros – UAH 4.283 mln (7% per annum).

Read also: Ukraine, EU, Russia gas talks to take place no earlier than April - Naftogaz Ukrainy Head

The company saw an almost 1.8-fold rise in administrative expenses, to UAH 885.846 mln.

Naftogaz Ukrainy unites oil and gas production assets in Ukraine, and is the country's gas transit, underground gas storage, and oil pipeline transportation monopoly.
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