Kyivenergo Announces Net Income Estimates
22 February 2008
Kyivenergo’s (KIEN: HOLD) net income for 2007 is estimated at USD 1 mln, according to Borys Yaschenko, ex-CEO and advisor to the current CEO. According to the optimistic scenario considered by Serhii Titenko, Kyivenergo’s newly appointed CEO, the company’s 2008 net income may rise to USD 43.5 mln. The company plans to increase its electricity generation by 3.3% yoy (in 2007 production fell 11% yoy). Alexander Paraschiy: We are still waiting for official 2007 results. We stick to our forecasts for 2008: flat electricity production; net income of USD 32 mln.
