By KYIV. Nov 3 (Interfax-Ukraine) – NJSC Naftogaz Ukrainy in January-June 2022 increased its net loss by 34.6 times (by UAH 35.509 billion) compared to the same period in 2021 – up to UAH 57.159 billion, according to the company’s consolidated financial statements released on Thursday.
At the same time, in the second quarter of 2022 Naftogaz received a net profit of UAH 420 million. In the first quarter of this year, the loss amounted to UAH 57.579 billion.
The main factors in loss formation in the first quarter were additional deductions to the reserve of doubtful debts associated with a decrease in the solvency of the company’s counterparties as a result of the outbreak of a full-scale war, as well as a negative difference between the purchase cost of imported gas and the price of its sale in accordance with special obligations imposed on the company by the state (PSO). Also, the factor of the company’s unprofitability in January-March was the destruction of its assets as a result of shelling by Russia.
"Starting from April, despite active hostilities, the company was able to adapt to new conditions and ensured a profit of UAH 420 million in the second quarter of 2022. This was achieved, in particular, due to cost reductions and the legislative settlement of the problem of compensation for state-imposed special duties on the company," the statement reads.
In the first half of 2022, the consolidated income from the sale increased by 18.2% (by UAH 19.24 billion) compared to January-June 2021, to UAH 124.8 billion.
At the same time, according to the consolidated financial plan for 2022 approved by the board, the company expects a profit of UAH 91.8 billion due to compensation for the difference in tariffs by heating companies and gas distribution network operators, through which Naftogaz will receive its compensation for PSO through the state budget.
