Despite all the challenges of the war, Naftogaz Group ensured a stable heating season, increased natural gas production and ended the year with a profit of almost UAH 38 billion. Thus, the net consolidated profit of Naftogaz Group amounted to UAH 38 billion, which is UAH 15 billion or 64% higher than in 2023, the Group's press service reports.
This data was confirmed by the international independent auditor KPMG. The reports are published on the official website of Naftogaz Group.
At the same time, gross profit for 2024 increased to UAH 89.1 billion compared to UAH 48.5 billion in 2023.
At the same time, operating profit for 2024 amounted to UAH 51.1 billion, which is almost UAH 13.3 billion or 32% more than in the previous period.
"All key business areas of the Group have shown growth. This requires a lot of effort in peacetime, and in times of war, it is work on the verge of the impossible. I thank every employee of Naftogaz Group for this result. I thank the government for its support," said Roman Chumak, CEO of Naftogaz Group.
NJSC Naftogaz of Ukraine
The parent company, NJSC Naftogaz of Ukraine, ended the year with a profit of UAH 23.9 billion. In 2023, the company recorded a loss of UAH 0.8 billion.
Gas production
Ukrgasvydobuvannya made the largest contribution to the profit, increasing its financial result to UAH 20.9 billion, almost twice as much as in 2023. The company also increased the volume of commercial gas production – 13.9 bcm in 2024, compared to 13.2 bcm in 2023. In 2024, the company put 83 new wells into operation and reached the highest daily production volume in the last three years – 38.9 million cubic metres.
Production and transportation of oil and oil products
JSC Ukrtransnafta ended the year with a profit of UAH 3.7 billion, and PJSC Ukrnafta ended the year with a profit for the second year in a row, reaching UAH 16.4 billion in 2024.
Gas supply and sales
Gas supply companies also showed positive dynamics. For example, Naftogaz of Ukraine returned to profit after a UAH 2 billion loss in 2023. The level of payments increased by 10% to 98%. Naftogaz Trading Group reduced its loss by more than UAH 3 billion compared to the previous year.
Overall, for the first time in a long time, the natural gas trading segment ended 2024 with a profit. Thus, the net operating result for 2024 for the natural gas sales segment was UAH 2.3 billion. In 2023, the loss reached UAH 22.3 billion.
Gas distribution
Gas Distribution Networks of Ukraine LLC also demonstrated growth. The volume of gas distribution reached 12.3 bcm. In 2023, it was 3.8 bcm. The level of payments also increased significantly – up to 97% (an increase of 14%).
Gas storage
Ukrtransgaz also remained in the black in 2024 with a profit of UAH 277 million. This is an important result for the company, given the constant Russian attacks on Ukrainian UGS facilities during this period, which significantly affected the willingness of foreign traders to store gas in Ukraine.
Sales of electricity and heat
Naftogaz Group increased electricity sales by 24% and heat sales by 4%. Distributed generation projects have been launched: 16 Bergen Engines and 13 Caterpillar gas reciprocating units will provide 177 MW of additional generation.
Taxes
In 2024, Naftogaz Group paid UAH 104.3 billion to the budget, accounting for 7% of total revenues.