Energoatom posts over US$49 mln in loss in 2017

State-run enterprise Energoatom, the operator of Ukrainian-based nuclear power plants, posted UAH 1.3 billion, or US$49.3 million, in losses in 2017, against UAH 232.8 million ($8.8 million) in net profit in 2016.

Energoatom's net revenue from electricity sales grew by 6.7% in 2017, to UAH 38.488 billion ($1.5 billion) from UAH 36.068 billion ($1.4 billion) in 2016, according to the Energoatom press service, referring to the company's 2017 financial report.

Meanwhile, Energoatom's gross profit in the reporting period reduced from UAH 5.7 billion ($216.3 million) in 2016 to UAH 4.8 billion ($182.2 million).

Read alsoU.S. Westinghouse to continue nuclear fuel delivery to Ukraine through 2025UNIAN memo. Energoatom is Ukraine's largest electricity producer, accounting for about 50% of the country's overall power output. Energoatom is responsible for the safe operation of the country's nuclear power plants.

Ukraine ranks seventh globally in terms of the installed capacity of its nuclear power generating units. Energoatom operates four nuclear power plants across Ukraine with a total of 15 power generating units, all with VVER-type reactors. Zaporizhia nuclear power plant, operating six power units with a total capacity of 6 GW, is Europe's largest.