The group of the Naftogaz of Ukraine national joint-stock company finished 2021 with a net profit of UAH 12.023 billion, against a loss of UAH 19.002 billion in 2020.
Naftogaz has announced this in a statement, Ukrainian News Agency reports.
In 2021, sales revenue increased by 36.5%, or by UAH 58.15 billion, to UAH 217.384 billion, while in 2021, sales revenue and other income increased by 13.5%, or by UAH 26 billion, to UAH 218,979 billion compared to 2020.
In 2021, the income from the sale of natural gas amounted to UAH 136.9 billion, which is 82% more than in 2020. At the same time, income from the organization of gas transit decreased by 30% to UAH 32.7 billion, income from oil and petroleum products increased by 38.7% to UAH 35.9 billion.
"State-owned companies, under normal conditions, should be profitable. Given the scale of Naftogaz, such profits are not excessive, taking into account the capital invested and its value. At the same time, the data indicate that Naftogaz would be profitable in 2021 even without gas transit. This is an important achievement. Let me remind you that Naftogaz had a record profit in 2019, but this result was achieved precisely through transit,” said Yurii Vitrenko, the chairperson of the Board of Naftogaz of Ukraine.
According to the report, in 2021, the company's main profit came from mining.
“However, not all segments of the activity were profitable and this needs to be corrected. In particular, the activity of importing, trading and supplying gas was unprofitable due to state regulation, primarily due to the decision of the regulator (National Commission for State Regulation of Energy and Utilities), gas storage, partly also due to the decisions of the regulator," Vitrenko said.
At the same time, according to him, in 2021, Naftogaz significantly exceeded the financial plan approved by the government, and also increased payments to the state budget.
“Loss in 2020 was not normal, given that it was a peaceful year. We fixed it. Unfortunately, when I actually left Naftogaz, it became unprofitable in the second quarter of 2020. When I returned in the second quarter of 2021, since this quarter, the company has become profitable again. I think it's normal for managers to try to make the company profitable and worry when there are losses," Vitrenko said.
As Ukrainian News Agency earlier reported, on April 30, the Cabinet of Ministers re-elected Vitrenko to the position of Naftogaz chairman of the board for a year.
In the first nine months of 2021, compared to the same period in 2020, the Naftogaz group reduced its loss by 3.9 times, or by UAH 12.66 billion, to UAH 4.37 billion and increased income by 30.8%, or by UAH 32 .2 billion to UAH 136.7 billion.
In 2020, the Naftogaz group received a loss of UAH 19.002 billion.
Naftogaz is the leading enterprise of the country's fuel and energy complex, which is engaged in exploration and development of deposits, drilling, storage of oil and gas, transportation of oil, as well as gas supply to consumers.
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