Naftogaz posts net profit of almost UAH 38 billion for 2024

In 2024, the Naftogaz group received almost UAH 38 billion of net profit.

The company has said this in a statement, the Ukrainian News agency reports.

The statement says that the net consolidated profit of the Naftogaz group amounted to UAH 38 billion, which exceeds the figure for 2023 by UAH 15 billion or 64%.

These data were confirmed by the international independent auditor - KPMG.

The report was published on the official website of the Naftogaz group.

It is noted that gross profit for 2024 increased to UAH 89.1 billion compared to UAH 48.5 billion in 2023.

At the same time, operating profit for 2024 is UAH 51.1 billion, which is almost UAH 13.3 billion or 32% more than the same indicator for the previous period.

The parent company – NJSC Naftogaz of Ukraine ended the year with a profit of UAH 23.9 billion.

At the end of 2023, a loss of UAH 0.8 billion was recorded.

The largest contribution to profit was provided by JSC UkrGasVydobuvannya, which increased its financial result to UAH 20.9 billion - almost twice as much compared to 2023.

The company also increased the volume of commercial gas production - in 2024 - 13.9 billion cubic meters, while in 2023 - 13.2 billion cubic meters of gas.

In 2024, the company commissioned 83 new wells and achieved the highest daily production volume in the last three years - 38.9 million cubic meters.

JSC Ukrtransnafta ended the year with a profit of UAH 3.7 billion, and PJSC Ukrnafta ended the second year in a row with a profit, in 2024 it reached UAH 16.4 billion.

"Companies operating in the gas supply sector also showed positive dynamics. Thus, the Naftogaz of Ukraine gas supply company turned a profit after a loss of UAH 2 billion in 2023. The level of settlements increased by 10% and amounted to 98%. The Naftogaz Trading gas supply company reduced its loss by more than UAH 3 billion compared to the previous year.

In general, for the first time in a long time, the operating segment for the sale of natural gas ended 2024 with a profit. Thus, the net operating result for 2024 in the natural gas sales segment is UAH 2.3 billion. In 2023, the loss reached UAH 22.3 billion,” the report says.

Growth was also demonstrated by LLC Gas Distribution Networks of Ukraine.

The volume of gas distribution reached 12.3 billion cubic meters.

In 2023, it amounted to 3.8 billion cubic meters.

The level of settlements also increased significantly - up to 97% (an increase of 14%).

JSC Ukrtransgaz also remained in the black at the end of 2024 with a profit of UAH 277 million.

This is an important result for the company, given the constant attacks by russians on Ukrainian underground gas storage facilities during this period, which significantly affected the willingness of foreign traders to store gas in Ukraine.

Naftogaz Group increased electricity sales by 24% and heat sales by 4%. Distributed generation projects have been launched: 16 Bergen Engines gas-piston units and 13 Caterpillar units will provide 177 MW of additional generation.

Naftogaz Group paid UAH 104.3 billion to the budget in 2024, which is 7% of all revenues.

As the Ukrainian News agency earlier reported, in 2023, Naftogaz Group received UAH 23.1 billion in net profit, while in 2022 the company received a loss of UAH 79.1 billion.

On April 29, the Supervisory Board of Naftogaz of Ukraine announced that Serhii Fedorovych Koretskyi was elected as the new Chairman of the Board of Naftogaz Group.