Naftogaz ends 2020 with net loss of UAH 19 bln, returns to profit-making in 2021 – company 2 min read
NJSC Naftogaz Ukrainy reported consolidated net loss was UAH 19.002 billion in 2020, compared with a net profit of UAH 63.294 billion in 2019, reflecting lower demand and gas prices, and material provisions for bad debts, the company said on Tuesday on its website.
Excluding the results of the discontinued operations, including the Gas Transit Arbitration award of UAH 55.7 billion, the net profit was UAH 2.6 billion, the company said in its press release. The company bottomed out and started generating profit, Executive Board Chairman Andriy Kobolev said at the presentation of the results.