Akhmetov`s Kyivenergo increases loss by almost 15%

Kyivenergo energy generating company, which supplies electricity and heat to consumers in the Ukrainian capital, reported a net loss of UAH 51.4 million in January-March 2016, which is 14.7% more than in the same period of 2015, according to the company`s press service.
”Such financial result of Kyivenergo in the first quarter of 2016 is mainly due to the growth of reserves for doubtful receivables. In January-March, the consumer debt of the company for the consumed electric energy increased by 12.7%, while for heat energy – by 54.1%,” the company said.
It is also reported that Kyivenergo`s revenue from product sales amounted to UAH 7.436 billion. In comparison with January-March 2015, it increased by 21.2%, whereas the increase in the cost of production amounted to 32.5%.
As UNIAN reported earlier, Kyivenergo received a net loss of UAH 1.6 billion in 2015, while in 2014 the company reported a net profit of UAH 83.7 million.
UNIAN memo. Kyivenergo generates electricity at two combined heat and power plants – CHPP-5 and CHPP-6. It also operates three thermal plants and 183 boiler rooms to produce thermal power.
It services households located in Kyiv.
It is part of Akhmetov`s DTEK, which owns 72.39% of Kyivenergo`s shares, while the state has a 25% stake in the company.

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