Naftogaz posts UAH 26.5 bln net profit in 2016 - audited data

National Joint-Stock Company Naftogaz Ukrainy, as a separate legal entity, in 2016 received a net profit of UAH 26.529 billion against a net loss of UAH 27.749 billion in 2015.

According to the audited financial statements of Naftogaz Ukrainy, posted on the company's website, its net income in the past year increased by 43.1% compared to 2015, to UAH 161.383 billion, gross profit by 3.6 times, to UAH 45.105 billion.

The company press service said the most profitable segment of Naftogaz activities last year was transit of natural gas due to which UAH 28.7 billion profit was received, and from participation in the capital of the group's enterprises the company received UAH 2.4 billion of profit.

At the same time, the company posted a loss of UAH 2.9 billion from wholesale gas trade. In particular 40% of this loss was due to the sale of gas to consumers who are subject to special responsibilities set by the Cabinet of Ministers.

Another UAH 1.7 billion in losses was brought by other costs. This amount includes collateral for court cases, losses from exchange rate differences, income on account balances and other charges.