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Profitable last year Ukrnaftareports UAH 10.1 mln in net loss in H1 2016

Profitable last year Ukrnaftareports UAH 10.1 mln in net loss in H1 2016Public joint-stock company Ukrnafta, Ukraine's largest oil producer, saw UAH 10.091 million of net loss in January-June 2016 compared to UAH 3.91 billion of net profit a year ago.

The company said in a report that its net revenue in H1 2016 decreased by 42.8% or UAH 6.648 billion, to UAH 8.894 billion, and gross profit – by 37.35 or UAH 2.84 billion, to UAH 4.774 billion.

Operating loss totaled UAH 612.531 million compared to UAH 4.552 billion of operating profit in H1 2015.

In January-June 2016, Ukrnafta sold 706,254 tonnes of oil worth UAH 4.76 billion, 538,500 tonnes of ammonia worth UAH 1.449 billion and fuel worth UAH 2.222 billion.

The share of oil was 54% of total sales (50.6% year-over-year), the share of fuel was 25% (22.8%) and ammonia's share was 16% (13.5%).

The company said that as of June 30, 2016, its unpaid tax liabilities amounted to UAH 11.128 billion.

Naftogaz Ukrainy owns 50% plus one share in Ukrnafta, a group of companies affiliated with Dnipro-based PrivatBank's shareholders owns about 42% of the company's shares.
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