01 Mar 2021

State owned Khmelnytskoblenergo increased net profit 70,3%, salaries grew 40% in 2020 YoY

JSC Khmelnytskoblenergo today reported financial results for the full year ended December 31, 2020. KHmOE's net profit grew 70,3%, to 146 mln UAH, wages rose 40%, to 16 837 UAH in 2020, compared to the 2019.

Net income of Khmelnytskoblenergo amounted to 1.731 billion UAH in 2020, 25,1% increase from the net income of 1.383 billion UAH generated in the previous year.

For the very challenging 2020 Khmelnytskoblenergo earnings increased at staggering 70,3% stride, totalling 146 mln UAH. State owned regional electricity distribution service operator (DSO), situated in Khmelnytsk region, accelerated the pace to profitability in the 2H2020, though its 1H2020 results were also solid – 48,7 mln UAH, compared to 24,6 mln UAH for the 1H2019.

Oleg Kozachuk, acting CEO of Khmelnytskoblenergo, praised for the 2020 results business processes automation, impact of innovations and his whole team hard work.

Press office