“Naftogaz” will pay to the state budget of 60 billion

“Naftogaz of Ukraine” on results of activity in 2016 will pay to the state budget about 60 billion UAH of taxes, said the head of the company Andrey Kobelev.

“Our strategic plan is to “Naftogaz” never received support from the budget, but rather paid to the budget the amount of taxes that have to pay large oil and gas company. This year, for example, 60 billion UAH”, – he said on air “channel 5” on Wednesday evening.

According to him, “Naftogaz” and, after separation of the gas business in a separate structure plans to be a profitable company, without receiving subsidies from the state budget, as it was in recent years.

“Due to the fact that from April 2017 should be unregulated, that is, “Naftogaz” will work in a fully open market, we expect that we will be able to earn a profit, which may not be as big as the income from gas transit, but he still (NAC]) to be a profitable business,” – said A. KOBOLEV.

As reported, the NJSC “Naftogaz of Ukraine” in January-September, 2016 net profit of 109 times (25 billion 287,114 million) to 25 billion 520,784 million.

In the financial result for the first nine months of 2015 includes 8 billion UAH of income from equity in earnings of subsidiaries and associates under separate financial statements. Beginning in 2016, Naftogaz displays such income only in annual financial statements. Thus, if you take NAC as a separate legal entity for the first nine months of last year, the company posted a net loss of $ 7.8 billion against UAH 25.5 billion UAH of net profit in January-September this year.

Revenue generated from the profits from the transit of gas (19.8 billion UAH, 78% of the total profit), wholesale gas (UAH 4.7 billion, 18%) and other revenues (UAH 1 bn, 4%).

At the end of the reporting period, the net income of the NAC from product sales increased by 28.9% (to 21 billion 445,056 million) – up to 95 billion 574,303 million, gross profit – by 2.5 times (20 billion 15,545 million), to 33 billion 694,924 million.

Approved by the Cabinet of Ministers the financial plan of “Naftogaz” for 2016. provides for an increase in the company’s net income in 2016 35.6% to 152,95 billion, gross profit by 3.3 times – up to 41,23 billion and EBITDA of 5.3 times – to 36.82 billion.

It is assumed that “Naftogaz” concluded in 2016 with net profit 21,13 billion after a net loss of 25.1 billion UAH last year.