Energoatom is profitable for a second consecutive quarter
Energoatom has published its financial statement for the first quarter of 2021. According to reporting period results, the Company will pay UAH 1.39 billion to the State budget in dividends and income tax.
Following the results of the first quarter of the current year, Energoatom netted more than UAH 1 billion. As a comparison, in the first quarter of 2020, the state-owned enterprise had a net loss of UAH 1.6 billion.
The Company's gross profit on electricity and heat sales, provision of heat supply, centralized water supply and sewerage services amounted to almost UAH 2 billion.
Given operating, financial and other income and expenses before tax the Company's financial result is profitable and amounts to UAH 1.24 billion, while the first quarter of last year was loss-making (minus UAH 1.9 billion).
During the first quarter of this year, receivables for products sold (which as of March 31, 2021 amounted to UAH 22.4 billion) were reduced by UAH 1.8 billion. Furthermore, Energoatom's long-term liabilities also decreased by UAH 1.5 billion.
The amount of taxes and fees that the Company has already paid to the State budget in the first quarter of 2021 is over UAH 3.7 billion.
Subject to the national currency stable exchange rate, in the second quarter of 2021 further gross and net income growth of NNEGC «Energoatom» is expected.