National Joint Stock Company “Naftogaz of Ukraine” paid UAH 3.9 bn of dividends to the state budget

Based on the results of 2021 performance, National Joint Stock Company “Naftogaz of Ukraine” received net profit amounting to UAH 12 bn that by 5.4 times exceeds planned indicators approved by the Government as the company’s shareholder.

This is evidenced by the consolidated financial statements of National Joint Stock Company “Naftogaz of Ukraine” drafted in compliance with the international standards and verified by independent auditors.

“Naftogaz became profit-making in 2021, and that allows us to help Ukraine withstand in extremely arduous conditions of the war now, in 2022”, – emphasised the CEO of National Joint Stock Company “Naftogaz of Ukraine” Yuriy Vitrenko.

In March, the company paid UAH 2.3 bn of dividends to the state budget that makes 95% of the amount of the net profit provided for in 2021 financial plan.

In June, the company published consolidated financial statements of National Joint Stock Company “Naftogaz of Ukraine” drafted in compliance with the international standards and verified by independent auditors, in which the profit exceeds the planned indicators by 5.4 times. That is why the company had to pay dividends additionally. At the same time, yesterday, on 01 July 2022, the Cabinet of Ministers of Ukraine approved the decision to reduce the basic rate of dividends from 95% to 30%. Therefore, Naftogaz has transferred another UAH 1.6 bn (additionally to UAH 2.3 bn paid in March) to the state budget.

Generally, the company paid UAH 3.9 bn of dividends to the state budget that makes 30% of net profit for 2021.

Following the decision of the Government, Naftogaz will use UAH 8.5 bn (65% of the profit) for natural gas import to prepare for the upcoming heating season.

Yuriy Vitrenko stressed that thanks to the reforms in 2021, Naftogaz has the resource to be a donor to the state budget and accumulate costs to purchase gas for the next winter.

“The company is a reliable support for the state even in the war-time conditions”, – accentuated the CEO of Naftogaz.

We remind that in 2020, the loss of National Joint Stock Company “Naftogaz of Ukraine” was equal to UAH 19 bn. In Q1 2021, the company demonstrated its loss-making at the level of UAH 10 bn. However, yet in Q2 2021, after changing the CEO of Naftogaz, the company has reversed the negative trend and showed UAH 8.5 bn of profit.

Last year, the company transferred UAH 116 bn to the state budget that is by 12.6% more compared to 2020. Now, Naftogaz provides one third of tax revenues to the budget of Ukraine. For 5 months of the current year in arduous war-time conditions, the company has transferred UAH 47 bn to the state budget (that is one third of tax revenues to the state treasury).

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