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

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.