Zakhidenergo reports net loss of UAH 246 mln in 1H09
27 July 2009
Zakhidenergo (ZAEN), the Western Ukrainian power generator, said that it had a net loss of UAH 245.5 mln in 1H09, vs. net income of UAH 37.7 mln in 1H08. The company also reported net revenue of UAH 2.2 bln, down 1% yoy, and a gross loss of UAH 106.1 mln, vs. gross profit of UAH 182.1 mln in 1H08. Yegor Samusenko: Zakhidenergo’s reported losses were expected: all GenCos are now suffering from the political mandate to electricity tariffs low and coal prices high until the presidential election scheduled for January 2010.
