Naftogaz sees 48% growth in net profit in 2017

Naftogaz sees 48% growth in net profit in 2017

Naftogaz received a net profit of UAH 39.3 billion as a separate legal entity in 2017, which was 48% more than in 2016, the company's press service has reported.

An essential part of the company's net profit in 2017 (almost UAH 12.6 billion) is the effect of reflecting the decisions of the Arbitration Institute of the Stockholm Chamber of Commerce.

According to the report, the increase in net profit for 2017 was also influenced by the increase in profit from natural gas transit, which was partially offset by greater losses in the natural gas sales segment. 

Natural gas transit through Ukraine in 2017 amounted to almost 93.5 billion cubic meters, which was 14% more than in 2016. The 2017 figure is the highest over the past six years.

The revenue of the natural gas transit segment for 2017 grew by 20% overall compared with 2016, mainly due to increased transit volumes. The result of the segment is a profit of almost UAH 36.5 billion, which is 27% more than in 2016.


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