OREANDA-NEWS. On February 27, 2008 Donbass Fuel-Energy Company (DTEK), the leader of the fuel and energy sector of Ukraine, announced the preliminary financial result of the Company’s performance in 2007 in line with IFRS: DTEK consolidated sales proceeds made UAH 8 983,7 million, EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) is UAH 2 408,6 million, reported the press-centre of DTEK.

All financial indicators of DTEK demonstrate positive growth dynamics. Compared to the previous year, the Company’s proceeds grew up by 77,9%, EBITDA – by 104,9%, and EBITDA margin made 26,8%.

Pavlogradugol Coal Company and Komsomolets Donbassa Coal Mine accounted for 17,9% of the sales proceeds. Significant influence on the change of this indicator in the Company’s coal production sector was caused by the growth of coal prices and increased coal sale level. The coal output by DTEK’s enterprises in 2007 grew up by 3% from 2006 and made 15,8 m tons.

The power generating line of the Company accounted for 50,1% of the sales proceeds. Growth of electricity generation is explained by 2,0% increased total electricity output in Ukraine and growth of the share of thermal generation in the total structure of generation by 5,5% compared to 2006. At the same time, the share of Vostokenergo Ltd. in the structure of electricity output by thermal power plants grew up from 25,7% in 2006 to 27,0% in 2007. The growth of DTEK’s share in thermal power generation is explained by high competitive capacity of the Company’s TPPs, technical availability of the equipment as well as stable coal supply to the Company’s power plants.

The power distribution business of DTEK accounted for 26,7% of 2007 sales proceeds. Growth of the electricity supply volume resulted from increased production capacities of large consumers in metallurgical sector and from connection of new consumers.

The net profit of the Company in 2007 reached UAH 952,4 m, which is 93,2% above the previous year. This growth has been achieved through increase of sales volumes and reduction of production cost per unit.

The total investment in 2007 made UAH 917,9 m, 60,7 % of which was allocated for maintenance and increase in the production capacities of the coal business assets.

The tax payments in 2007 made UAH 1 744,9 m, which is 8,5 % more than in 2006. Timely and full remittance of payments to the state budget is the result of the Company’s policy based on the principles of social responsibility, transparency and observance of the legislative requirements.

Company reference
Donbass Fuel-Energy Company (DTEK) is the first private vertically-integrated power company in Ukraine, incorporating the coal-producing (Pavlogradugol OJSC, Komsomolets Donbassa Mine OJSC), generation (Vostokenergo Ltd) and electricity supply (PES-Energougol OJSC, Service-Invest Ltd.) enterprises.