Energoatom expects about UAH 1 bln of net profit in Q1, 2021 – Kotin

Energoatom expects to receive UAH 1 billion in net profit in January-March 2021, acting president of the company Petro Kotin has said.

"In the first quarter of 2021, the company expects to receive UAH 2.4 billion in gross profit, while we expect approximately UAH 1 billion in net profit," he said at a press conference in Kyiv, adding that in the first quarter of 2020 the company received UAH 1.5 billion of net loss.

According to him, the amount of payments to the state by the company in the form of dividends and income tax will be about UAH 1.3 billion.

Kotin said that the main factors for improving the performance indicators are the stabilization of the flow of funds to the company, in particular, the payment for the electricity sold based on the results of the auction on December 21, 2021 (a record 13.3 million MWh were sold) and the partial repayment of debts of the state enterprise Guaranteed Buyer for the previously supplied electricity at the expense of credit funds of Ukrenergo in the amount of about UAH 3 billion.

As reported, on December 21, 2020, Energoatom sold 13.3 million kWh of electricity with a delivery period from January 1 to June 30, 2021, which is 17.7% of the company's projected electricity generation next year.

Energoatom received UAH 4.8 billion of net loss in 2020 against UAH 3.7 billion of net profit in 2019.

Source: www.en.interfax.com.ua