Ukraine's state-owned Centrenergo cuts net profit by 78.3% in 1H 2018

The state-owned power generating company Centrenergo in the first half of 2018 (H1) reduced net profit by 78.3% year-over-year (y-o-y), from UAH 2.019 billion (US$75.8 million) to UAH 439.3 million ($16.5 million).

Net income from sales amounted to UAH 7.97 billion over the period under review, which was 32% up from UAH 6.03 billion in H1 2017, according to a company announcement in the National Securities and Stock Market Commission's information disclosure system.

As UNIAN reported earlier, Centrenergo transferred UAH 1.1 billion in dividends to the state budget of Ukraine in 2017.

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The State Property Fund of Ukraine postponed the sale of the state-owned stake (78.3%) in Centrenergo via auction until June 2018.

UNIAN memo. PJSC Centrenergo is one of Ukraine's leading electricity producers. The state owns 78.289% of the company's shares. Centrenergo consists of three thermal power plants – Vuhlehirska, Zmiivska, and Trypilska – with the total installed capacity of 7,665 MW, which is 14% of Ukraine's overall capacity. Centrenergo supplies electricity to Kyiv, Kharkiv, and Donetsk regions.