Volynoblenergo increases net income 2.5x yoy in 2008
25 February 2009
According to preliminary financial data from power distribution company Volynoblenergo (VOEN), the company raised sales 28% yoy in 2008 to UAH 394 mln (USD 76 mln), increased its EBITDA 2.4x to UAH 52 mln (USD 10 mln, 5% above our forecast), and boosted its net income 2.5x yoy to UAH 6.5 mln (USD 1.2 mln). In 2009, we expect a 3% decrease in VOEN’s EBITDA in local currency.
