UkrGasVydobuvannya’s profit up 4.5 times to UAH 13 billion in 2023

In 2023, the UkrGasVydobuvannya gas production company increased its net profit 4.5 times, or by UAH 10.1 billion year over year, to UAH 13 billion.

This follows from a statement by the company, the Ukrainian News agency reports.

In 2023, the operator of gas storage facilities of Ukraine, the Ukrtransgaz joint-stock company, boosted its net profit 2.2 times, or by UAH 3.8 billion year over year, to UAH 7 billion.

At the same time, in 2023, the net profit of the Ukrtransnafta company increased by 40% to UAH 5.6 billion.

"The main area of the group's activity, which did not show a profit, is the gas sales segment. This is a consequence of the supply of natural gas to consumers within the scope of the performance of special duties at prices set by the state. At the same time, the group's companies working in this area also were able to demonstrate significantly better results compared to 2022. For example, the gas supply company Naftogaz of Ukraine reduced the loss 12 times, and the Naftogaz Trading - almost 6 times," the report says.

Also, the parent company of the Naftogaz of Ukraine group reduced its loss from UAH 36.6 billion in 2022 to UAH 0.78 billion in 2023.

According to the report, it is planned that the absolute majority of the net consolidated profit of the Naftogaz group, which belongs to the company's shareholders, will be directed to the payment of dividends to the state.

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

At the same time, the largest oil producing company Ukrnafta ended 2023 with a net profit of UAH 23.6 billion.

To request a correction, please send an email.