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DTEK Dniprooblenergo sees net profit drop 13.5-fold in 2017

Source : 112 Ukraine

Shareholders are going to leave the net profit for the previous year undistributed and to not pay out dividends.
13:45, 20 March 2018

Open source

PAO DTEK Dniprooblenergo experienced a 13.5-fold (or by $16.5 million) compared to the 2016 results – to $1.32 million, according to the information from the agenda of the meeting of the shareholders, assigned for 19 April, Interfax-Ukraine reports.

Related: DTEK orders 26 wind turbines from General Electric

According to the document, the shareholders are going to leave the net profit for the previous year undistributed and to not pay out dividends.

In 2016, DTEK Dniprooblenergo acquired a net profit amounting to $17.8 million against the net loss of $21.8 million sustained over 2015. The energy company’s net revenue grew by 25.6% (or by $215.8 million) – to $1.1 billion, whereas the company’s gross revenue climbed by 21.2% (or by $3.85 million), to $21.8 million.

Related: DTEK boosts coal production at remaining mines

76.66% of the enterprise’s shares are controlled by System Capital Management, a company that belongs to the Ukrainian businessman Rinat Akhmetov, while 15.89% are owned by the Cyprus-based Larva Investments Limited.

DTEK Dniprooblenergo is Ukraine’s largest utility company in terms of the power transported and delivered. DTEK Dniprooblenergo operates 49.7 thousand kilometers of distributing circuits across Dnipro region.

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