Page 107 - UKRRptDec23

9.2 Major corporate news 9.2.1 Oil & gas corporate news
Ukrnafta, under state management, has doubled its financial performance. Ukrnafta, a state natural gas extracting company, generated ₴95B ($2.6B) in revenue during the first year of operation under state control. This is more than twice the average rate from the last ten years, said the GM of the company, Serhiy Koretskyi. According to him, this is not related to the increase in oil prices but was achieved due to transparent market work without intermediaries. The company’s net profit currently exceeds ₴20B. For comparison, the cumulative result for the previous 10 years is that the company had billions in losses," Koretsky emphasized. In 2023, the company plans to pay ₴27B in taxes, including about ₴5B in income tax. Accordingly, this year alone, the company will transfer 400% more funds to the state budget than was the average during 2012-2021. The company is also preparing to pay at least ₴6B in dividends to the state based on 2023’s results, which is more than the total result from the last 10 years.
Naftogaz signs 200-million-euro loan with EBRD. The European Bank for Reconstruction and Development (EBRD) will lend 200 million euros ($218 million) to Ukraine’s state-owned energy giant Naftogaz to help build up its strategic gas reserves, the EBRD announced on Nov. 23.
Naftogaz Group paid UAH 75.4bn in taxes to the state and local budgets for January-October 2023. As the group’s press service reported, the state budget received UAH 69.8bn, which is 11.5% of payments controlled by the State Tax Service of Ukraine, and another almost UAH 6bn went to local budgets.
PJSC Ukrnafta received a net profit of UAH 14.1bn in January-June 2023, company director Serhiy Koretsky said on Facebook on November 14 morning.
“Net profit for the first half of 2023 amounted to UAH 14.1bn. Currently, net profit has exceeded UAH 20bn. This is net profit from business activities, the result after paying all taxes, in particular, income tax. Without any changes to accounting policy," he noted.
According to him, the company’s projected revenue for the current year will be UAH 95bn, which is twice the average annual income over the last decade. “And the rise in oil prices has nothing to do with it. Transparent market work without intermediaries,” Koretsky emphasized.
The director of Ukrnafta also clarified that the company paid UAH 12.3bn in taxes for the first half of the year, in particular, UAH 3.3bn in income tax. The tax payment plan for the entire 2023 is UAH 27bn, including about UAH 5bn in income tax.
“For example, over the past 10 years, UAH 12bn of income tax have been paid. Accordingly, in 2023 alone, the company will transfer five times more funds to the state budget than on average during 2012-2021,” he wrote.
At the same time, based on the results of economic activity this year, the company is preparing to pay at least UAH 6bn in dividends if the meeting of shareholders decides to pay a minimum rate of 30%, which even in this case will be more than the total result of the last 10 years.
Jailed oligarch Ihor Kolomoisky has lost control of his stake in Ukraine’s
107 UKRAINE Country Report December 2023 www.intellinews.com