11:13 28.12.2017

Cabinet approves Energoatom's financial plan for 2018 with UAH 328 mln in net profit

2 min read
Cabinet approves Energoatom's financial plan for 2018 with UAH 328 mln in net profit

The Cabinet of Ministers of Ukraine on Wednesday, December 27, approved the financial plan of state-owned enterprise NJSC Energoatom for 2018 with a planned net profit of UAH 327.627 million, which is 38.5% higher than the expected similar figure this year (UAH 236.472 million).

At the same time, the plan can be adjusted by the government in the first quarter due to the fact that the National Commission for Energy, Housing and Utilities Services Regulation (NCER) should approve tariffs for Energoatom only on December 28.

Energoatom's net revenue in 2018 is projected at UAH 40.523 billion, which is 6.4% more than expected in 2017 (UAH 38.086 billion), gross profit is forecast at UAH 4.716 billion, which will be 24.7% up on 2017 (UAH 3.781 billion), EBITDA is expected at UAH 9.691 billion, which will be 8% up on 2017 (UAH 8.974 billion).

Fuel costs in 2018 may increase by 0.9%, or UAH 101.083 million, compared to the costs expected in 2017, to UAH 11.902 billion. Expenses on the withdrawal of spent nuclear fuel next year are projected at UAH 3.572 billion.

Energoatom's capital investments 2018 are planned at UAH 6.285 billion, which is 2.2 times more than expected in 2017 (UAH 2.801 billion). This includes UAH 3.157 billion on the implementation of the Comprehensive Safety Enhancement Program, UAH 710.8 million on the construction of a centralized storage facility for spent nuclear fuel, UAH 298.8 million on completion of Tashlyk HPPP, and UAH 120 million on building a complex for processing of solid radioactive waste.

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