Kyivenergo to invest UAH 800mn (USD 100mn) in development in 2013.

By bne IntelliNews May 22, 2013

Kyivenergo company intends to invest UAH 800mn (USD 100mn) into its development in 2013, director general of the company Oleksandr Fomenko told. According to him, the development of the heating networks will account for UAH 240mn and the rest of the funds will be channeled for the development of power facilities. The amount of external loans will be UAH 200mn and the rest will be attracted at the expense of the investment markup to the tariff and thanks to the financing of the major investor of the company.

In 2012, Kyivenergo posted net profit of UAH 2.3bn (USD 0.3bn) under the IFRS, the company has announced. The company increased net revenues by 42.71% y/y to UAH 16.4bn in 2012. In Q4, Kyivenergo has reported a net profit of UAH 1.6bn, having raised its revenues by 28.44% y/y to UAH 5.3bn. DTEK energy holding company (Donetsk) owns 71.82% in Kyivenergo. The government, represented by the Energy Company of Ukraine national joint-stock company, owns 25% in Kyivenergo.

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