DTEK earned a profit on production growth and changes in the global energy prices

DTEK earned a profit on production growth and changes in the global energy prices

DTEK06 December 2018

DTEK’s financial performance improved in 2018 due to increase in coal and gas prices on global exchanges, as well as due to billions of investments in boosting production.

Over the last 2 years, coal prices in the global market have more than doubled -- from $42 to $100 per tonne. The natural gas price has soared from $250 to $330 per cubic meter year to date.

Investments in production enable the company to boost its product sales. Over the 13-year time span in operation, the company has invested over $7.6 billion in development.

DTEK’s coal business alone saw almost $3 billion of investments, which allowed the company to nearly double its output between 2004 and 2017, bringing it to 24.8 million tonnes. This helped stabilising operation of Ukraine’s power grid facing a coal shortage.

Investments in gas extraction made it possible for the company to annually raise its production 3.3 times since 2013 to 1.65 billion cubic meters of natural gas. DTEK has become the largest private gas producer in Ukraine.

DTEK Group companies are major national taxpayers: in 2017, they paid UAH 22.5 billion of tax into budgets of different levels.

The company reported that its EBITDA (operating earnings before interest, tax, depreciation and amortisation) over the nine months of 2018 had reached UAH 19.0 billion. In January-September, DTEK Group earned a total of UAH 119.8 and made a net profit of UAH 3.4 billion.

See also
16/08
DTEK For the second time court fails to confirm validity of allegations made against DTEK employees
14/08
DTEK Court took into consideration arguments concerning groundlessness of suspicions to DTEK employee
13/08
DTEK DTEK employee took part in the NABU proceedings in advance on his own initiative

Reference

DTEK is a strategic holding company that develops business in the energy sector. DTEK’s companies employ 73 thousand people. Maxim Timchenko is the Chief Executive Officer of DTEK.
DTEK companies produce coal and natural gas, generate electric power at the fossil-fuel fired 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 bcm 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: https://dtek.com/en/
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 https://dtek.com/en/sustainable_development/

Corporate Communications Department
DTEK
Tel.: +38 (044) 581 45 35
+38 (044) 581 45 70
E-mail: pr@dtek.com
www.dtek.com

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