Donbasenergo Posts Loss Of UAH 451 Million For 2021

In 2021, the Donbasenergo energy generating company, according to preliminary data, incurred a loss of UAH 450.502 million against the profit of UAH 29.09 million in 2020.

This is stated in the message about the general meeting of shareholders of the company, which is scheduled for July 6, Ukrainian News Agency reports.

The value of assets in 2021 increased by 3.3% to UAH 5.29 billion, the company's receivables increased by 22.4% to UAH 1.1 billion.

The company's long-term liabilities decreased by 22% to UAH 410 million, current liabilities - increased by 13.5% to UAH 4.8 billion.

As Ukrainian News Agency earlier reported, Donbasenergo shareholders at a meeting on July 6 will consider the opening of proceedings in the company's bankruptcy case.

At the end of May, due to the shelling of the invaders, Donbasenergo stopped the work of the Sloviansk TPP.

In September 2021, shareholders initiated the process of reorganization of Donbasenergo before the opening of bankruptcy proceedings.

In 2020, Donbasenergo, according to international financial accounting standards, received a net profit of UAH 29.09 million against UAH 68.99 million loss in 2019.

The company's net income increased in 2020 compared to 2019 by 14.1%, or UAH 0.805 billion, to UAH 6.515 billion.

The Donbasenergo power generating company operates the Starobesheve thermoelectric power plant (located in the part of Donetsk region not controlled by the Ukrainian government) and the Sloviansk thermoelectric power plant, which have a combined installed capacity of 2,890 MW.

The Energoinvest Holding owns 60.859% of the shares in Donbasenergo, the State Property Fund owns 25% + one share, and other minority shareholders - 14.14%.