Naftogaz suffered UAH 1.65B of net loss in H1 2021

NJSC Naftogaz of Ukraine has suffered a net loss of UAH 1.65 billion in January-June 2021.

According to Ukrinform, this is evidenced by the data of the company's condensed consolidated financial statements for the first sixth months of 2021, which have not been yet audited.

It is noted that compared to the first half of 2020, the company's net loss decreased sevenfold.

However, the total income of Naftogaz for the first six months of 2021 came to UAH 6.45 billion due to the profit following the revaluation of fixed assets (including income tax) in the amount of UAH 8.342 billion. In the first half of 2020, the total loss of Naftogaz amounted to UAH 12.61 billion.

In the first half of 2021, the company's sales revenue rose by 47.8% to UAH 105.56 billion compared to the same period last year. In the second quarter of 2021, Naftogaz received UAH 8.5 billion in net profit compared to a loss of UAH 14.721 billion for the same period in 2020. The company's total revenue for the second quarter reached UAH 16.72 billion.

In the second quarter of 2021, the company's net sales revenue increased by 33.5% to UAH 35.818 billion compared to the same period last year.

As reported, Naftogaz’s consolidated loss, confirmed by the international company Deloitte, exceeded UAH 19 billion in 2020, and became the first loss since 2015.

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