Naftogaz Group's profit in the first half of 2023 amounted to UAH 6.6 billion

Naftogaz Group's consolidated profit for the first half of 2023 amounted to UAH 6.6 billion, the company's press service reports. At the same time, the consolidated operating profit for the same period reached UAH 14 billion.

According to the company, this is a significant result, considering that during the same period last year, the Group had a consolidated operating loss of UAH 55.3 billion.

The consolidated loss for the first half of last year amounted to UAH 57.2 billion, and therefore the Group managed to significantly improve these indicators, increasing them to UAH 6.6 billion in profit.

"Achieved financial results made it possible to ensure the fulfillment of the company's Eurobond requirements and obligations under other credit agreements of the Group," Naftogaz noted.

The main activity of the Group, which did not show a profit, is the segment of gas sales. The company notes that the negative result is a consequence of the supply of natural gas to consumers within the scope of the performance of special obligations (PSO) at prices set by the state.

Naftogaz notes that significant improvements in the Group's financial results were achieved thanks to effective work with receivables and the settlement of the issue of unauthorized gas withdrawals.

During January-June 2023, Naftogaz Group enterprises paid taxes in the amount of UAH 48.4 billion to the consolidated budget of Ukraine, which is more than 8% of all state tax revenues for the corresponding period.