National joint-stock company Naftogaz Ukrainy in 2018 cut its net profit by 64.3% or UAH 24.532 billion compared with 2017, to UAH 13.613 billion, according to consolidated statements of the group published on Tuesday.
According to the press service of Naftogaz, the reduction in the size of the net profit was due to the fact that the company’s financial statements for 2017 showed the positive results of the decisions of the Stockholm arbitration in the amount of UAH 12.6 billion. The statements for 2018, in turn, accounted for VAT recognized by Naftogaz in accordance with the decision of the arbitration on gas transit in the amount of UAH 4.8 billion. The reduction in profits by another UAH 10.1 billion was also affected by the security of lawsuits. Most of this amount (UAH 9.6 billion) was secured in a lawsuit with involvement of JSC Ukrtransgaz for covering misbalances in the gas transmission system (GTS).
According to the document audited by Deloitte, the net sales income for 2018 increased 9.1% or UAH 17.012 billion, to UAH 204.938 billion, gross profit – by 11.5% or UAH 4.749 billion, to UAH 46.038 billion.
Income was received: from the transit of natural gas (UAH 72.347 billion); sales to gas supplying enterprises for the needs of households (UAH 56.245 billion); deliveries to heat producers for households (UAH 25.986 billion); deliveries to other consumers under public servicing obligations (PSO, UAH 16.319 billion); deliveries to other consumers beyond PSO (UAH 33.537 billion); and other (UAH 504.634 million).
