DTEK Renewables posts UAH 440 mln net profit in H1, 2020

DTEK Renewables B.V., which manages DTEK's renewable energy assets, received UAH 440 million in net profit in the first half of 2020, the company said.

According to the report, with revenue of UAH 4.103 billion, the company's gross profit amounted to UAH 2.978 billion, operating profit some UAH 2.851 billion.

The company said that the loss from negative exchange rate differences in the first half of this year amounted to UAH 1.73 billion, financial expenses – UAH 0.84 billion (versus financial income of UAH 0.32 billion).

According to the report, the company's assets in the first six months of this year grew by 3.4%, to UAH 40.23 billion, liabilities – by 3.8%, to UAH 24.32 billion (of which current – by 13.6% to UAH 4.44 billion). The total loan portfolio at the end of June amounted to UAH 22.71 billion.

DTEK Renewables also said that for 12 months, starting from June 2019 to June 2020, its EBITDA amounted to UAH 5.95 billion.

In addition, the company said that in the first half of the year it increased the supply of green electricity by 126%, to 1.2 billion kWh due to the commissioning of new power plants in 2019. At the same time, as of June 30, the debt of the state-owned enterprise Guaranteed Buyer to DTEK Renewables was UAH 3.2 billion.

Source: www.en.interfax.com.ua