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DTEK made a profit thanks to growth of production and changes in world energy prices

coal mining

DTEK’s financial results in the year 2018 has improved thanks to the growth of world stock prices for coal and gas, as well as billions of dollars in investments to increase production, the company said, according to Ukrainian news.

The price of coal over the last 2 years on the world market rose more than doubled – from $42 to 100 per ton. Since the beginning of the year, the price of natural gas increased from $250 to 330 thousand cubic meters.

Investments in production allow the company to increase sales volumes. For 13 years the company has invested in the development of more than $7.6 billion.

In particular, in the coal industry, DTEK invested almost $3 billion, allowing the company from 2004 to 2017 to increase production by almost 2 times – up to 24.8 million tons. This ensured stable operation of the power system of Ukraine in conditions of shortage of coal.

Investment in gas production has allowed the company to increase production 3.3 times from 2013 to 1.65 billion cubic meters of natural gas annually. DTEK became the largest private gazodobychi in Ukraine.

The enterprises of the DTEK group among the largest taxpayers of the country: in 2017 they paid 22.5 billion UAH of taxes to the budgets of different levels.

As reported, according to the report of the company for the first nine months of 2018 EBITDA (operating profit before interest, taxes, depreciation and amortization) amounted to UAH 19.0 billion. The income of the DTEK group for January-September to UAH 119.8 billion, net profit of 3.4 billion UAH.

shaoran2010

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