Centrenergo sees 76.2% fall in net profit in Jan-Sept
PJSC Centrenergo, an electricity generating company, in January-September 2018 saw a 76.2% fall in net profit year-over-year, to UAH 489.508 million.
According to financial statements posted on its website, the decline in the figure is linked to the fall in gross profit margins to 5.9% from 31.4%. In particular, net sales revenue over the period grew by 39.4%, to UAH 11.349 billion, while gross profit decreased 73%, from UAH 2.556 billion to UAH 674.158 million.
In Q3 2018, net profit of the company fell by 33% year-over-year, to UAH 50.241 million, while net revenue rose by 60.3%, to UAH 3.275 billion, and gross profit fell by 32%, to UAH 39.623 million.
Centrenergo operates the Vuhlehirska, Zmiyivska and Trypilska thermal power plants, which have a total installed capacity of 7.69 gigawatts. The state owns a 78.3% stake in the company.
As reported, the State Property Fund of Ukraine (SPF) announced a tender to sell the state-owned stake in the company. The tender will be held on December 13, 2018.