Business news from Ukraine

Kharkiv Power Supply Company will pay 64.2 mln hryvnia in dividends to state

PJSC Kharkivenergosbyt, which is managed by the State Property Fund of Ukraine (SPFU), will pay 64.2 million UAH in dividends to the state for 2022, which is six times more than in 2021.
“This decision was made by the general meeting of shareholders of Kharkovenergosbyt on April 24, 2023. Payment of dividends will take place through the depository system of Ukraine,” – reported on the website of the FGIU.
According to the fund, the amount of net profit of “Kharkovenergosbyt” for 2022 amounted to 198 million UAH and according to the decision of the general meeting, it will be distributed as follows: 50% – is directed to the payment of dividends to shareholders, 10% – on the costs provided by the financial plan for 2023, 10% – transferred to the reserve capital and another 30% – in other funds of the company.
“Today the state owns 65% of the company. “Kharkovenergosbyt” supplies electricity to 1.25 million household consumers. Despite the difficult situation in Kharkiv and constant enemy fire, during 2022 the company supplied 2,213.7 thousand megawatt-hours of electricity to consumers,” – said the FGIU.
At the same time, because of late payments by consumers for electricity at the plant at the beginning of 2023, there were receivables of 3.46 billion UAH. In addition to the population among the largest debtors are utilities Kharkivvodokanal, Zhilkomservis and Kharkiv Metro.
“These debts prevent Kharkivenergosbyt to pay for electricity on time further down the chain. Therefore now the company together with the SPFU is working on an action plan that will change the situation for the better, “- summed up in the Fund.
The state, represented by the SPFU, owns 65% of PJSC Kharkivenergosbyt. Another 29.79% of shares were owned by Smart Holding of Vadim Novinsky.
In mid-January 2023, Smart Holding announced a change of ownership.
“As part of the restructuring, Smart Holding founder Vadim Novinsky decided to transfer the assets to a trust. Corresponding agreements Smart Trust and Step Trust were concluded in November 2022 and registered by the Cyprus Securities and Exchange Commission,” – said in a message on the website of the holding.

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