Top 100 state-owned companies` 2015 losses fell threefold from 2014

First Deputy Minister of Economic Development and Trade Yuliya Kovaliv said losses among the top 100 state-owned companies in 2015 had fallen threefold compared to 2014.
”In 2014, the top 100 [state companies] posted a loss of UAH 119 billion, while in 2015 the amount of the loss decreased threefold to UAH 42.6 billion,” Kovaliv said at a briefing in Kyiv.
Of note, electrical energy and chemical industries were the most profitable public enterprises in 2015, while the oil and gas industry generated the largest losses, according to the first deputy minister.
”The biggest loss-making companies in 2015 were Naftogaz, posting a loss of UAH 25 billion, and Ukrzaliznytsia [Ukrainian Railways], which saw a loss of UAH 16.8 billion. The most profitable companies were State enterprise `Ukrainian Sea Ports Authority`, Turboatom, Energoatom,  Ukrhydroenergo and Ukrenergo,” Kovaliv added.
At the same time, Kovaliv noted that the best dynamics, in terms of improved financial position, was demonstrated by NJSC Naftogaz of Ukraine, which reduced its net loss in 2015 by UAH 65 billion.
Kovaliv also reported that the loan portfolios of the largest state-owned companies, which are held in state-owned banks, were estimated at UAH 70 billion in 2015. This year, the Economy Ministry will seek to reduce the debt load of state-companies by 20%.
As UNIAN reported earlier, losses recorded by the top 100 state-owned companies in Ukraine, excluding NJSC Naftogaz of Ukraine, in the January-June 2015 period decreased by 87% year-over-year to UAH 5.8 billion.

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