Oil and gas companies showed the largest growth in 2016 among 94 largest state-owned enterprises (SOE) in Ukraine, boosting net revenue by 46.8% year-over-year, to UAH 192.9 billion, the Economic Development and Trade Ministry has said in the top 100 SOE report.

"The most profit-making assets are national joint-stock company Naftogaz Ukrainy, Ukrenergo, Ukrainian Sea Port Authority, Ukrhydroenergo, Pivdenne (Yuzhnoye) Design Bureau (Dnipro). These enterprises are operating on the regulated markets with restricted competition," First Deputy Economic Development and Trade Minister Maskym Nefyodov said at a briefing in Kyiv on Tuesday.

According to the report, net profit of oil and gas companies in 2016 amounted to UAH 22.5 billion compared with loss of UAH 36.3 billion in 2015. The rapid growth of this sector is explained by the Naftogaz's price policy reform, the ministry said.

SOE in the electricity sector increased net revenue by 10% last year to UAH 87.5 billion. At the same time, their net profit decreased by 63%, up to UAH 4.9 billion, according to the report of the minsitry.

"This is primarily due to the increase in net profit of PJSC Centrenergo, National Energy Company Ukrenergo and PJSC Ukrhydroenergo," the report says.

Centrenergo increased profit by 5.5-fold, to UAH 387 million, Ukrhydroenergo – doubled it, amounting to UAH 2.2 billion.

In 2016, the 14 largest state-owned machine-building enterprises sold products for UAH 7 billion, which is 1.4% less than in 2015. At the same time, their net profits increased to UAH 5 billion from UAH 1 billion. This is due to the growth in profitability of Pivdenne Design Bureau - up to UAH 4.3 billion.

In the food industry and agriculture, revenue in 2016 increased by 0.6% compared to 2015, to UAH 18.5 billion. The largest SOE reduced net loss to UAH 576 million from UAH 2.9 billion in 2015 due to reduction of losses by the State Food and Grain Corporation of Ukraine and improvement of the financial results of the state enterprise Ukrspyrt, the ministry said.

In the transport sector, net revenue grew by 11%, to UAH 96.7 billion. The net loss of SOE in this sector fell to UAH 268 million from UAH 9.1 billion in 2015. This is due to the reduction in losses of Ukrzaliznytsia (more than halved), to UAH 7.3 billion from UAH 16.8 billion. Net profit of the Boryspil International Airport doubled to UAH 1.4 billion. Net profit of Yuzhny maritime merchandise port fell by 25%, to UAH 581 million.

Ukrposhta posted losses of UAH 161 million.

Net revenue of coal industry enterprises in 2016 declined by 25%, to UAH 4.9 billion.

"In recent years, there has been a reduction in coal production due to hostilities in Donbas. Last year, all enterprises from the top 100 SOE saw no profit," the ministry said in the report.

Net revenue of chemical industry enterprises in 2016 decreased by 40% - to UAH 9.6 billion, while net loss amounted to UAH 2.3 billion compared with profit of UAH 432 million in 2015. Financial indicators worsened due to the suspension of the operations of the main enterprise of the industry - PJSC Odesa Port-Side Chemical Plant, which net financial loss reached UAH 3 billion compared with profit of UAH 211 million in 2015.