DTEK Energy ended the year with a net loss of UAH 19 billion

DTEK Energy ended 2020 with a net loss of UAH 19.13 billion on revenue of UAH 47.24 billion, reports Economichna Pravda.

The company's gross profit for the past year amounted to UAH 4.78 billion, and an operating loss – UAH 5.47 billion, including due to the write-off of UAH 7.61 billion in financial instruments.

"The systemic crisis in the energy sector, a significant reduction in electricity consumption in the first half of the year due to the coronavirus pandemic and the market debt to generating companies have a strong impact on the company's activities," the company commented on such results.

Besides, the negative contribution was made by a loss on exchange rate differences of UAH 7.13 billion due to the weakening of the hryvnia and financial expenses of UAH 7.22 billion, only partially offset by financial income of UAH 1.14 billion.

The company indicates that if at the beginning of 2020 its capital was UAH 7.18 billion, then at the end it became negative – UAH 16.16 billion, and liabilities increased by 13.2% to UAH 93.51 billion.

As a reminder, DTEK and Vestas signed an agreement for the construction of the first stage of the Tiligul wind farm.

As reported, NEURC had fined DTEK Kyiv Grids.

Tags: DTEK, NEURC, electricity market, debt, investments, price, power system

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