Ukrenergo reports profit and debt repayment despite infrastructure damage
Kyiv • UNN
Despite infrastructure damage and the devaluation of the hryvnia, NPC Ukrenergo announced UAH 83 billion in revenue, UAH 400 million in profit, and repaid UAH 24 billion in debts to counterparties in 2023.
Despite last year's infrastructure damage and the impact of the hryvnia devaluation, NPC Ukrenergo announced revenue of UAH 83 billion and a return to profit. The company has also repaid UAH 24 billion of its debts to counterparties. This was stated by Volodymyr Kudrytskyi, Chairman of the Board of NPC Ukrenergo, during a briefing on Friday, an UNN correspondent reports.
We generated revenue of UAH 83 billion. The profit was about 400 million, as opposed to the loss last year. And this profit was made despite the fact that in 2023, as you know, there was quite significant damage to our infrastructure
According to the Chairman of the Board of NPC Ukrenergo, the financial results are affected by a certain devaluation of the hryvnia against foreign currencies, as many of Ukrenergo's debt obligations are denominated in dollars and euros.
"Despite all of this, despite the need for the largest repair campaign for trunk networks in history, we were able to make this profit, albeit a moderate one. It is very important that we were able to repay more than UAH 24 billion of debts to our contractors," he emphasized.
Kudrytskyi pointed out that thanks to its reputation, Ukrenergo was able to attract donor funds not only to restore the grids, but also to pay off its debts.
"These funds also went mainly to the power plants that received the appropriate resource during 2023 and the first quarter of 2024 for restoration and preparation for the 2023-2024 heating season," - he added.
Recall
As Ukrenergo pointed out, the current situation in the power system is not the most difficult, but in the summer we should expect new challenges related to power shortages due to damage.
