JSC Ukrgazvydobuvannia saw an 11% fall in net profit in 2018, to UAH 27.135 billion (around $1 billion).
According to the financial statements audited by Deloitte and posted on the company’s website, net revenue in 2018 grew by 5.2%, to UAH 78.97 billion, while gross profit fell by 8.8%, to UAH 38.368 billion.
In 2018, the company saw revenue from sale of natural gas and oil in the amount of UAH 69.825 billion (a rise of 3.7% on 2017), from sale of refined petroleum products – UAH 8.465 billion (a rise of 21.4%), fossil fuel extraction and preparation services – UAH 220.216 million (a fall of 31.6%), and other goods and services – UAH 459.661 million (a rise of 3%).
The royalty for the use of subsoil and other taxes in 2018 was UAH 25.268 billion (a rise of 13.4% year-over-year), depreciation totaled UAH 9.84 billion (a rise of 47.7%), staff costs and social payments came to UAH 3.007 billion (a rise of 34.4%), and other costs – UAH 2.487 billion (a rise of 35.2%).
As reported, Ukrgazvydobuvannia increased production by 1.2% (by 176.2 million cubic meters), to 15.42 billion cubic meters in 2018.
Ukrgazvydobuvannia, fully owned by Naftogaz Ukrainy, is the country’s largest gas producing company, providing about 75% of the country’s total gas production.
