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All key companies of Naftogaz Group improve their financial results by at least 40% - Chernyshov

Most Naftogaz Group companies improved their financial results in 2023. 

All key companies of Naftogaz Group improve their financial results by at least 40% - Chernyshov

All key companies of Naftogaz Group significantly improved their financial results by at least 40% in 2023, the press service of Naftogaz Group has reported

Thus, the net profit of Ukrgasvydobuvannya JSC in 2023 amounted to almost UAH 13 billion, compared to UAH 2.9 billion in 2022.

JSC Ukrnafta also significantly improved its results, posting more than UAH 20 billion in net profit compared to a loss of UAH 1.1 billion in 2022.

In 2023, Ukrtransgaz, the Ukrainian gas storage operator, generated almost UAH 7 billion in net profit, compared to UAH 3.2 billion in 2022.

Ukrtransnafta also improved its financial result by 40% in 2023. The company's net profit was UAH 5.6 billion compared to UAH 4 billion in 2022.

The main business area of the Group that did not show profit is the gas sales segment. This is a result of supplying natural gas to consumers under the public service obligations (PSO) at prices set by the state.

At the same time, the Group's companies operating in this area were also able to demonstrate significantly better results compared to 2022. Thus, Naftogaz of Ukraine Gas Supply Company reduced its loss by 12 times, and Naftogaz Trading Group by almost six times.

The Group's parent company, Naftogaz of Ukraine, also showed a significant improvement in its financial position, significantly reducing its loss from UAH 36.6 billion in 2022 to UAH 0.78 billion in 2023.

It is planned that the vast majority of Naftogaz Group's net consolidated profit attributable to the Company's shareholders will be used to pay dividends to the state. The Group's shareholder, the Cabinet of Ministers of Ukraine, will determine the final volume.

The press service of Naftogaz reminds that the net consolidated profit of Naftogaz Group in 2023 amounted to UAH 23.1 billion against a loss of UAH 79.1 billion in 2022. This is evidenced by the consolidated financial statements audited by an international independent auditor and approved by the company's Supervisory Board on 3 May 2024. 

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