Cabinet issues financial plan of Naftogaz, Ukrgazvydobuvannia for 2016

12:38, 27.12.2016 1 min read

The Cabinet of Ministers has issued resolutions Nos. 1009-r and 1010-r dated November 30 approving the financial plans of Naftogaz Ukrainy and PJSC Ukrgazvydobuvannia for 2016.

At the same time, the financial plans have not been promulgated.

As reported, with reference to Finance Minister Oleksandr Danyliuk, the draft fiscal plan of Naftogaz, considered by the government, envisages the increase in the company's net income in the current year by 35.6%, to UAH 152.95 billion, gross profit by 3.3 times, to UAH 41.23 billion, and EBITDA by 5.3 times, to UAH 36.82 billion.

It is assumed that Naftogaz in 2016 will post a net profit of UAH 21.13 billion against a net loss of UAH 25.1 billion last year.

According to the document, it is planned to reduce Naftogaz's debt on long-term loans in the current year by UAH 3.32 billion, to UAH 31.57 billion with the growth of debt on short-term loans by UAH 9.23 billion, to UAH 36.03 billion. It is also planned to increase capital investments by 10 times, however, in general, their volume will remain relatively low at UAH 310 million.