Naftogaz receives UAH 63.3 bln in net profit in 2019

"In 2019, the consolidated net profit of Naftogaz Group totaled UAH 63.3 billion," says the statement.

According to the company, cash flows generated by operating activities amounted to UAH 110 billion, of which UAH 55.7 billion post-tax relates to the Gas Transit Award. Naftogaz also paid UAH 20 billion in dividends to the shareholder - the State of Ukraine.

At the same time, a tendency towards a significant decrease in consumption volumes began in Q4 2019 and gas prices continued to fall. Naftogaz expects “the macroeconomic environment to continue to be challenging in 2020”.

The results of 2019 are the following:

Companies of Naftogaz Group produced 16.1 billion cubic meters (bcm) of gas (78% share of Ukraine’s total), and ensured the transit of 89.6 bcm of gas to European countries.

Cash flows generated by operating activities amounted to UAH 110 billion.

Naftogaz Group successfully completed the unbundling of the gas transmission system operator.

A new 5-year gas transit agreement was signed with guaranteed revenues and foreign currency inflows;

Naftogaz issued Eurobonds for a total of USD 835 million and EUR 600 million;

Total dividends paid to the state budget in 2019 exceeded UAH 20 billion, including 90% of net profit for 2018 and interim dividends for 2019.

Naftogaz of Ukraine is a vertically integrated oil and gas company engaged in full cycle of operations in gas and oil field exploration and development, production and exploratory drilling, gas and oil transport and storage, supply of natural gas and LPG to consumers.

Aside from purely commercial operations, the company plays an important social role and supplies natural gas to households, budget-funded institutions and utilities at prices set by the state.

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