Ukrtransgaz sees 2.5-fold rise in net loss in H1 2018

18:33, 31.07.2018 1 min read

JSC Ukrtransgaz in January-June 2018 increased net loss 2.5-fold year-over-year, to UAH 17.73 billion.

According to a company report posted on its website, net revenue over the period fell by 5.9%, to UAH 27.158 billion, while gross loss grew 3.2-fold, to UAH 7.359 billion.

The main reason of gross loss growth is accelerated depreciation.

As reported, in 2017, Ukrtransgaz increased net loss 4.4-fold, to UAH 24.181 billion. Net revenue grew by 31.2%, to UAH 51.181 billion, and gross loss totaled UAH 14.449 billion compared with UAH 1.948 billion of gross profit in 2016.

Ukrtransgaz, fully owned by Naftogaz Ukrainy, operates a system of gas trunk pipelines and 12 underground gas storage facilities in the country.