DTEK increases budget revenues by 1.5 times in 2021

Over 2021, DTEK Group transferred UAH 31.9 billion in taxes to the state budget, which is almost 52% more than payments for 2020, the group said on its website on Tuesday.

"Over 2021, UAH 31.9 billion of taxes were transferred to the state budget. Compared to 2020, DTEK Group's tax deductions increased by UAH 10.9 billion due to an increase in VAT, royalty payments and income tax," the report said.

According to Maksym Timchenko, CEO of DTEK, the group's payments to the state budget amount to almost 3% of all revenues to its general fund.

The report states that out of UAH 31.9 billion in taxes, UAH 28 billion were directed to the central budget and UAH 3.9 billion to local budgets.

The group's capital expenditures in the production development amounted to UAH 23.4 billion, which is UAH 11.4 billion or more than twice as high as in 2020.

"The main drivers of the capital expenditure growth are construction of Tylihulska wind farm by DTEK Renewables and the growth of capital expenditures of DTEK Grids due to an increase in tariff sources of financing during the transition to RAB tariff formation," the company explained.

According to DTEK, in 2021 the group's payroll amounted to UAH 16.1 billion.

Source: www.en.interfax.com.ua