Akhmetov’s DTEK back in positive territory

 

Net income of leading coal and energy holding of Ukraine “DTEK Energo” increased 10% to 141 billion hryvnia.

This is stated in the unaudited financial statements of the company, according to Concorde Capital.

Revenue of the company in 2017 rose 6% to 5.3 billion dollars.

According to calculations, EBITDA (operating profit before interest, taxes, depreciation and amortization – ed) of the company improved by 29% to UAH 23 bn. In dollar terms EBITDA increased by 24% and amounted to 865 million dollars.

The net loss of the company amounted to UAH 2.9 billion.

Only in 4th quarter 2017 net income “DTEK Energo” amounted to 41.4 billion (an increase of 34% compared to the previous quarter), EBITDA – UAH 8.8 bn (an increase of 92% compared to the previous quarter).

Net debt of the holding company at the end of 2017 remained at the level of a year ago – to 64,6 bln, the net debt to EBITDA ratio improved to 2.8 at the end of 2017 from 3.6 times a year ago.

The head of the analytical Department of Concorde Capital Oleksandr Parashchiy surprised such financial results of the holding.

“The results of DTEK exceeded our expectations, and while it’s hard to say what caused this increase. Perhaps, the company’s financial performance has strengthened due to the fact that it consolidated in its reporting figures of assets, coal engineering,” he said.

Recall that in 2016 the annual EBITDA of DTEK increased 2.37 times to 17.8 billion UAH.

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