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DTEK net loss rises 4.2 times in H1 2015

DTEK net loss rises 4.2 times in H1 2015DTEK energy holding saw a loss of UAH 20.794 billion in January-June 2015, which is 4.2 times or UAH 15.869 billion more year-over-year, DTEK said in a press release on the London Stock Exchange.

The company said that its net revenue in H1 2015 rose by 4.6% or UAH 2.013 billion, to UAH 45.728 billion and earnings before interest, taxes, depreciation and amortization (EBITDA) fell by 57.9% or UAH 4.07 billion, to UAH 2.95 billion.

The figures do not include the performance of DTEK Oil&Gas and DTEK Renewables.

DTEK's revenue from sale of electricity to end consumers over the period grew by 5% or UAH 1.083 billion, to UAH 22.763 billion, including revenue from exports of electricity, which fell by 46% or UAH 1.234 billion, to UAH 1.447 billion.

Revenue from sales of electricity to Energomarket state enterprise grew by 7.6% in January-June 2015 or UAH 1.136 billion, to UAH 16.058 billion.

Revenue from sales of coal over the period fell by 40.3% or UAH 1.32 billion, to UAH 1.954 billion, including revenue from exports of coal which fell by 29.9% or UAH 709 million, to UAH 1.661 billion.

DTEK boosted revenue from sales of heating by 72.7% or UAH 1.253 billion, to UAH 2.976 billion.

DTEK was created in 2005 to run the energy assets of SCM Group (Donetsk) controlled by Rinat Akhmetov. DTEK runs the group's enterprises, which make up a vertically integrated coal extraction and enrichment chain and electrical power production and sale.

Source: Interfax-Ukraine
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