Unaudited Consolidated Financial Performance Indicators of
DTEK Energy for six months of 2018
Key financial performance indicators for the reporting period:
Revenue – UAH 83,181 million
Capital investments – UAH 3,323 million
Tax paid – UAH 8,805 million
Kyiv, September 28, 2018
DTEK Energy disclosed unaudited consolidated financial statements for six months of 2018, which ended on 30 June 2018.
“The Ukrainian energy sector is getting ready for large-scale changes. The reform opens up an opportunity to create an electricity market based on the European model. To achieve this objective, major transformational changes are required on all levels, varying from manufacturers to consumers. Strengthening the economy in general and the sector in particular provides a strong basis for successful reforms,” noted DTEK Energy's CEO Dmitriy Sakharuk. “We fully support the ongoing reform and have always been ready to use all our efforts to develop the Ukrainian energy sector. The company has already started pulling together all its resources to boost the efficiency of its operations in the context of a competitive electricity market.”
The company maintains the pace of production of gas grades of coal – 11.4 million tons were produced in six months of 2018. This allowed increasing the supply of electricity to the United Energy System of Ukraine up to 17.5 billion kWh. At the same time, in the total volume of production, generation of electricity from the Ukrainian coal increased by 15.3% and amounted to 13.6 billion kWh. The conversion of power units No. 9 and No. 10 of DTEK Prydniprovska TPP from anthracite to the burning of G-grade coal will further increase the electricity production from domestic coal. This became possible due to capital investments, the volume of which for the reporting period amounted to UAH 3.3 billion. The implementation of the program for updating production capacity will strengthen DTEK Energy's efficiency in the context of a competitive electricity market.
During the reporting period, the absolute production costs increased by UAH 15.2 billion compared to the performance during the first six months of 2017. This is due to the increased imports of anthracite for thermal generation as Ukraine stopped producing this coal grade and increased costs in connection with the purchase of electricity supplied to end consumers.
During the reporting period, DTEK Energy paid state and local taxes of UAH 8.8 billion, which is UAH 0.6 billion higher than the indicator of the first six months of 2017.
1) The semi-annual Financial Report of DTEK ENERGY B.V. has been submitted to the National Storage Mechanism and available for inspection at: http://www.morningstar.co.uk/uk/nsm.aspx
2) The Financial report was also sent to FCA
DТEKis a strategic holding company that develops business in the energy sector. DTEK’s companies employ 73 thousand people. DTEK CEO is Maksym Timchenko.
DTEK companies produce coal and natural gas, generate electric power at the thermal power plants and renewable energy power plants, supply thermal and electric power to end consumers, and provide energy services. The operating companies directly manage production companies in each of the business streams.
DTEK’s production indicators for 2017: the company has produced 27.7 mn tonnes of coal, 1 655 million cubic meters of natural gas, generated (supplied) 37.1 bn kWh of electric power, of which 637.8 mn kWh have been provided by the renewable energy sources; and transmitted 43.2 bn kWh of electric power via the grid.
DTEK is a part of the financial and industrial group System Capital Management (SCM). The shareholder of the group is Rinat Akhmetov.
For more information, visit www.dtek.com
To learn about social partnership projects being implemented in the cities of DTEK activity and to get a detailed report on the status of their implementation, please visit http://spp-dtek.com.ua/
For more information, please contact:
Tel: +38 (044) 581 45 22
This press release may contain forward-looking statements related to the planned measures or future financial indicators of DTEK ENERGY. Words such as ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘forecast’, ‘intend’, ‘may’, ‘plan’, ‘project’, ‘predict’, ‘should’ and ‘will’ or the negatives of these terms or variations of them and similar expressions are intended to identify such forward-looking statements. Accordingly, actual results may differ materially from those expressed or implied by the forward-looking statements. We undertake no obligation and do not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. By their nature, forward-looking statements are subject to numerous assumptions, risks and uncertainties. Such risks include concerns over the general economic status, environment and risks associated with doing business in Ukraine, significant technological and environmental changes in our sector, as well as many other risks specifically applicable to DTEK ENERGY and its business.