Business news from Ukraine

STATE-OWNED UKRENERGO SEES 42% FALL IN NET PROFIT IN 2017

State-owned enterprise Ukrenergo saw a 42% fall in net profit in 2017 (by UAH 1.264 billion) compared with 2016, to UAH 1.748 billion.
According to a company financial report, net revenue last year rose by 15.2% or UAH 1.09 billion, to UAH 8.264 billion, and gross profit grew by 17% or UAH 849.257 million, to UAH 5.838 billion.
As reported, national energy company Ukrenergo in 2017 increased transmission of electricity through the backbone power grids by 2.4% (by 2.616 billion kWh) compared to 2016, to 113.837 billion kWh. The cost of electricity transmission services rose by 13.7% in 2017 (by UAH 965.217 million), to UAH 8.022 billion.
Ukrenergo operates trunk and interstate power grids, as well as performs the centralized dispatching of the united energy system in the country. The company is a state-owned enterprise, it is subordinate to the Ministry of Energy and Coal Industry, but by the end of 2018 the company is to be reorganized into a private joint-stock company.

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