Utility companies brought Ukraine almost a billion hryvnias of losses for 2024
19 August 14:51
Almost a quarter of the country’s utility companies in 2024 worked unprofitable. This is reported by Ekonomicheskaya Pravda with reference to data from the analytical platform VKURSI Market BI, "Komersant Ukrainian" reports.
The study covered about 10 thousand registered public utilities, of which 24% showed negative financial performance. The leader in profitability was “Kyivteploenergo”, but “Kharkiv heating networks” suffered significant losses. In general, the capital’s municipal structures turned out to be the most successful.
The total revenues of 9,890 active utility organizations increased by 200 billion hryvnias compared to the previous year, reaching 423 billion hryvnias. However, this did not save the industry from an overall deficit.
Experts explain the sharp decline compared to 2023, when the sector earned 97 billion hryvnias in profit, by dramatic changes in the financial results of Kyiv Metro. If in 2023 the enterprise earned more than 101 billion hryvnias, last year its profit fell to 389 million.
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The structure of the industry is as follows: one third of the enterprises (33%) remained profitable, 24% recorded losses, and 43% showed no net profit. The latter category includes organizations that report only revenues or have no business purpose.
Leaders and losers
Among the profitability leaders are:
- “Kyivteploenergo” (UAH 4.7 billion);
- “Kyivpastrans (UAH 3 billion);
- “Lvivteploenergo (UAH 412 mln);
- Kyiv Metro (UAH 389 mln);
- kyiv Children’s Hospital No. 2 (UAH 266 mln).
It should be noted that Kyiv Metro is the biggest loser in this list, as UAH 389 mln of profit is nothing compared to UAH 301 bln the company earned a year earlier.
The biggest losses were incurred by:
- “Kharkiv heat networks” (1.7 billion UAH);
- dnipro “Teploenergo” (UAH 1 billion);
- “Dneprovodokanal (UAH 979 mln);
- medical center in Kakhovka (UAH 674 mln);
- Kharkiv Metro (UAH 478 mln).
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