Zakhidenergo reports weak 2Q14 results
28 July 2014
Power GenCo Zakhidenergo (ZAEN UK) reported a 14% yoy decline in net revenue to UAH 4.70 bln in 1H14, according to its July 25 financial release. The company’s EBITDA fell 40% yoy to UAH 393 mln, while its bottom line was at negative UAH 174 mln in 1H14 (vs. positive UAH 315 mln in 1H13). In 2Q14 alone, the company reported a 24% yoy decline in net revenue, 2x yoy decline in EBITDA and 10x decline in net income.
