Ukrainian enterprises specializing in the extraction of oil, gas, ore and other minerals show positive development dynamics, even despite the war and the risks associated with it. The aggregate income of the ten largest companies in the industry increased by 13% last year and reached over 365 billion hryvnias.
Currently, mining enterprises are earning even 11% more than before the start of a full-scale war.
The state company “Ukrnafta” received the largest income (95.17 billion hryvnias) in 2023. The company’s share in the structure of the total income of the top 10 enterprises of the industry reached 26%. In general, Ukrnafta’s revenues increased 2.3 times over the year.
Last year’s leader, Ukrgazvydobuvannya, dropped to second place. Although the company managed to increase revenue by 9%, its net profit decreased 19 times to UAH 3.14 billion in 2023. The main direction of activity of “Ukrgazvydobuvannya” is the production of natural gas.
In general, these two state companies earned half of the total income of the leaders of the mining industry: UAH 189 billion.
“41% of the income of the leaders was divided between the six companies of Rinat Akhmetov’s SCM group: UAH 149.67 billion. Five of them received a net profit in the amount of UAH 32.35 billion. Only the Central GZK suffered losses in the amount of UAH 1.33 billion. Among the companies of the SCM group that increased their income in 2023, it is worth highlighting the Northern GZK (+44%), the Sviato-Varvarynska Enrichment Factory (+32%) and the Pokrovskoye SHU (+14%). At the same time, the revenues of Naftogazvybovanny and Central GZK decreased by 35% and 31%, respectively, and DTEK Pavlogradvugilia — by 6%,” – say analysts The opendatabase.
The Index also includes two FERREXPO AG companies related to Konstantin Zhevago. Their combined income for 2023 decreased by almost a third compared to 2022: Poltava GZK — by 33%, Yeristivskiy GZK — by 32%. At the same time, these two companies were able to obtain a total profit of UAH 970.7 million.
In total, nine out of ten companies included in the Index made profits of UAH 62.11 billion last year. For comparison, in 2022, only six out of ten companies were profitable.
