Головна сторінка
/
Новини
/

Donbasenergo ups revenue 8% yoy, losses 24% yoy in 1Q12

Donbasenergo ups revenue 8% yoy, losses 24% yoy in 1Q12

27 April 2012

Donbasenergo (DOEN UK), the Ukrainian power generator, reported expectedly weak financials for 1Q12 yesterday. Net revenue increased 8% yoy to USD 136 mln, mainly on a 10% increase in power tariffs. Electricity output was down 2% yoy to 2.57 TWh. Coal input costs grew faster than achieved power tariffs, which resulted in deepened operating losses (negative EBITDA increased 1.2x yoy to USD 8 mln) and net losses (up 24% yoy to USD 13 mln).

Alexander Paraschiy: While weak results for the quarter were broadly expected (all the other GenCos’ extremely poor financials were released a day before), Donbasenergo’s financials look much better than its peers. The company showed just a minor decline in its EBITDA margin (0.7 pp yoy) vs. its peers’ 5–14 pp drop. We explain the relatively small growth in operating losses by a much more moderate increase in coal costs for the company. Unlike Dniproenergo and Zakhidenergo, the company is not integrated into DTEK’s coal-power chain and buys coal at the market price. We therefore expect Donbasenergo will improve its financials in the next quarters, when the regulator will traditionally allow for better power pricing. On the flipside, we do not expect any improvement in the company’s financials for the full-year compared to 2011.

Останні новини

News

23

02/2022

Separatists may claim entire territories of two Ukrainian regions

Russia has recognized “all fundamental documents” of the self-proclaimed Donetsk and Luhansk People’s Republics (DNR...

News

23

02/2022

U.K. to provide USD 500 mln loan guarantee for Ukraine as IMF mission starts

The British government is going to provide up to USD 500 mln in loan guarantees...

News

23

02/2022

MinFin bond auction receipts jump to UAH 3.5 bln

Ukraine’s Finance Ministry raised UAH 3.3 bln and EUR 7.2 mln (the total equivalent of...