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Energoatom strengthens positive development dynamics

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31.03.2021

SE NNEGC Energoatom increases incomes and improves financial results for the second consecutive quarter.

Following the results of the first quarter of 2021, SE NNEGC Energoatom got UAH 16 billion 438 million 251 thousand net sales revenue.

As compared to the fourth quarter of 2020, Energoatom's incomes increased by UAH 3 billion 664 million 523 thousand, or 29%, whereas compared to the first quarter of 2020 - by UAH 1 billion 834 million 151 thousand, or 13%.

The key factors of positive dynamics in increasing incomes in the first quarter are:

⁃ steady flow of funds for electricity sold at the auction on December 21, 2020;

⁃ repair campaigns shortening at power units by 37.4 days. It allowed to meet the needs of the population in cold periods in full, preventing rolling blackouts as well as to increase production output and to exceed Forecast balance in the first quarter of 2021 by 11%;

⁃ part discharge of debts by SE “Guaranteed Buyer” and NPC “Ukrenergo” for previously electricity supplied.

Furthermore, Energoatom keeps supplying more than half of the electricity generated to the population for 15 kopecks per kWh (given that the residential tariff is UAH 1.68 per kWh) having received from GarPok only UAH 358.8 million, or 19% of the total amount, which is UAH 1.9 billion.

According to the results of the first quarter, Energoatom looks forward to receiving a net profit along with paying several hundred million dividends to the State budget.