Kiev, 29 July 2008. – DTEK, the leader in the fuel and energy sector of Ukraine, has summed up its preliminary financial performance in the first half of 2008 on the basis of management reports. Consolidated sales proceeds of DTEK from January-June 2008 amounted to UAH 6.034m., and EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) hit approx. UAH 1.6bn.

 

All the financial indicators of DTEK demonstrate positive growth dynamics. The company boosted proceeds by 47.8% and EBITDA by over 60% year on year, while EBITDA margin totalled around 26.5%. Financial performance went up due to output growth in all industrial sectors of DTEK and favourable market conditions.

 

The first six months of the year saw a number of landmarks with DTEK entering international financial markets. The Company continued development of its credit portfolio through international borrowings. DTEK raised the first external credit to the amount of $100m from Deutsche Bank in 2007, while this year it added new financial instruments to its list. In particular, DTEK raised a syndicated $150 loan (lead-managers - Barclays Capital PLC and Standard Bank Plc.), as well as a stand-by loan from Erste Bank to the amount of €50m. The company also prepared to issue its initial internal bonds for the amount of UAH 500m with trading at PFTS started on 28 July.
 

Donbass Fuel-Energy Company (DTEK) is the first private vertically integrated energy company of Ukraine. It is a part of the financial and industrial group System Capital Management (SCM). The enterprises of DTEK build up an efficient operational chain of coal production (Pavlogradugol OJSC, Komsomolets Donbassa Mine OJSC) and enrichment (five enrichment plants), electricity generation (Vostokenergo Ltd.) and distribution (Service-Invest Ltd., PES-Energougol OJSC).