KIEV (Sputnik) — The company's press service said its audited financial statements as a separate non-consolidated legal entity indicated that "beginning in 2016, Naftogaz has turned from a recipient of budgetary assistance to a donor to the state budget."
"In 2016, Naftogaz received a net profit for the first time in five years. According to the results of 2016, Naftogaz received a net profit of 26.5 billion hryvnia ($984 million), which was mainly achieved through transit profit," the firm said.
Its plan to pay the Ukrainian government dividends of $492 million, or 50 percent of profits, is expected to be finalized by the Ukrainian cabinet by April 30.
Naftogaz posted losses of $929.5 million in 2015.
Natural gas transit proved to be the Ukrainian company's most profitable segment at over $1 billion, while wholesale gas sales delivered losses of $108 million.
