The company plans to receive a net profit of almost UAH 92 billion by the end of 2022.
NJSC Naftogaz of Ukraine in January-June 2022 increased its net loss by 34.6 times – by UAH 35.509 billion – compared to the same period in 2021 – up to UAH 57.159 billion. This was announced by the company’s press service on Thursday, November 3.
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At the same time, in the second quarter of 2022, Naftogaz received a net profit of UAH 0.42 billion. In the first quarter of this year, the loss amounted to UAH 57.579 billion.
It is indicated that the main factors in the formation of a loss in the first quarter were additional reductions in the reserve of doubtful debts associated with a reduction in the solvency assessment of the company’s counterparties as a result of the outbreak of a full-scale war
In addition, the losses were affected by the negative difference between the purchase price of imported gas and its sale price in accordance with the special obligations imposed on the state company (SSO).
Also, the reason for the company’s unprofitability in January-March was the destruction of its assets as a result of shelling from Russia.
“Already since April, despite the active battles, the company was able to adapt to the new conditions and ensured a profit of UAH 420 million in the second quarter of 2022. This was achieved, in particular, due to cost reduction and legislative settlement of the problem of compensation for the state imposed the company has special responsibilities,” said the statement.
At the same time, NAC, based on the consolidated financial plan for 2022 approved by the Board, expects a profit of UAH 91.8 billion due to receiving compensation for the difference in tariffs of DH companies and operators of gas distribution network, where NAC will receive its compensation for JI through the state budget.
Recall that at the end of 2021, the net income of Naftogaz reached 12.023 billion hryvnia against a net loss of 19.002 billion hryvnia in 2020.
And now, the dismissed head of Naftogaz, Yuriy Vitrenko, said that the company has managed to reverse negative trends and is profitable again.
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.