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Naftogaz Ukrainy has paid record profit tax of $509 mln

The company paid a profit tax of hryvnia 13.3 bln or $509 mln.

Naftogaz Ukrainy has paid record profit tax of $509 mln Naftogaz Ukrainy has paid record profit tax of $509 mln


Naftogaz has paid a profit tax of hryvna 13.3 bln or $509 mln – the most that the government has received from a state company since Ukraine became independent of Russia, the company reported on June 27, 2017.

 

«This is the highest dividend payment ever made by a state-owned company in independent Ukraine,» Naftogaz said in an official statement.

 

The company's profit of UAH 26.5 billion, which is $1.019 billion, (non-consolidated) in 2016 was made possible by the 3 years of consistent reform efforts both in Naftogaz and Ukraine’s energy sector, Naftogaz CEO Andrey Kobolev said.

 

«Rejection of corruption, transparent business procedures compliant with the best international practices, active cooperation with international stakeholders and defending interests of Naftogaz in arbitration – all this has ensured quite positive financial performance,» he said.

 

 

Naftogaz posted UAH 26.5 billion in net profit in 2016 as a separate legal entity, while it was in the red in 2015 with UAH 27.7 billion in net loss.

The company's net revenue in 2016 grew 43.1%, to UAH 161.3 billion.

 

To read the article in Russian.

 

Source : Neftegaz.RU