Ukrgasvydobuvannya paid 60% of income in taxes and dividends in 2019

Ukrgasvydobuvannya JSC in 2019 received UAH 104.4 billion from the sale of gas and liquid hydrocarbons. 60% of this amount – UAH 62.7 billion – the company transferred to the state and local budgets in the form of taxes and dividends to the shareholder, the company reported.

According to the report, 22% of cash receipts, or UAH 22.9 billion, the company allocated to investments in the gas and liquid hydrocarbons’ production. During the mentioned period, the company produced 13.62 billion cubic meters of sales gas, which was sold for the needs of the population and the fuel and energy complex.

The First Deputy Director General of UGV Oleksandr Romanyuk: «The external environment limits the ability of Naftogaz’s production division to increase investment, or even keep it at the same level. This reflects in the UGV performance indicators.» He added that the Company is working on anti-crisis solutions that can minimize the impact of the adverse factors. These include the recently announced partnerships with international companies to intensify production from depleted fields and start developing new ones.»

According to the financial statements of Ukrgasvydobuvannya, the Company’s net income for 2019 is UAH 79.0 billion, which is at the level of the previous year. The Company’s net profit for 2019 was UAH 19.0 billion. The decrease was caused by an impairment loss on fixed assets, intangible assets and outstanding capital investments, an increase in expenses for pipeline transportation services due to the introduction of mandatory GTS entry fees at the legislative level.

16:25 / 30 April, 2020

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