Andriy Kobolyev / Photo from UNIAN
The company saw a 64% reduction in net profit in 2018, to US$580.9 million.
CEO of National Joint-Stock Company Naftogaz of Ukraine Andriy Kobolyev says the company will lose UAH 13 billion (US$555 million) in net profit over the unbundling of the country's gas transmission systems (GTS).
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"For us as a group [of companies] this [the GTS unbundling] will mean about UAH 13 billion in net profit loss next year. This is the effect we expect in this regard," he said at a conference on the GTS unbundling on December 18.
As UNIAN reported earlier, the Naftogaz group of companies posted UAH 24.7 billion (US$1.06 billion) in net profit over the first six months of 2019, which was almost twice as much as for the same period in 2018. The group achieved this figure mainly due to an improvement in the Integrated Gas Business and Gas Transit segments (the segment result is operating profit/loss adjusted to operating exchange differences).
In 2018, Naftogaz saw a 64% reduction in net profit in 2018, to UAH 13.6 billion (US$580.9 million).
UNIAN memo. NJSC Naftogaz of Ukraine is the largest state-run vertically integrated oil and gas holding whose subsidiaries account for about 90% of oil and gas production in Ukraine. Naftogaz develops oil and gas fields, produces crude oil and natural gas. Its core business is also transportation and trade in fuel through its own network of filling stations.