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Uzbek energy operator reduces net income by almost a third

Business Materials 11 August 2015 18:35 (UTC +04:00)
The net income of Uzbekenergo State Joint Stock Company (SJSC), which unites the enterprises of electric power and coal industry of Uzbekistan, amounted to 111.275 billion soums in January-June 2015 compared to 153.923 billion soums in the previous year (a 27.7 percent decrease)

Tashkent, Uzbekistan, Aug. 11

By Demir Azizov- Trend:

The net income of Uzbekenergo State Joint Stock Company (SJSC), which unites the enterprises of electric power and coal industry of Uzbekistan, amounted to 111.275 billion soums in January-June 2015 compared to 153.923 billion soums in the previous year (a 27.7 percent decrease), said the company's balance sheet.

The official exchange rate on Aug.11 is 2,585,37 soums/$1.

The net income of Uzbekenergo from product sales in January-June increased by 19.9 percent - to 2.37 trillion soums, accounts receivable for six months increased by 9.37 percent - up to 3.862 trillion soums, as well as overdue increased by 6.5 percent - to 14.3 billion soums, according to the report.

Debt payments to the equity firm budget declined by 24.1 percent - up to 215 billion soums during the period, on payments to the state target funds - by 3.8 times - up to 821.16 million soums, wage arrears increased by 11, 5 percent - to 348 million soums.

The production volumes are not disclosed in the report.

Uzbekenergo includes 54 companies specializing in the electric power engineering and coal industry with different forms of ownership.

The capacity of Uzbek power stations is currently 12.4 million kW.

Up to 90 percent of electricity is produced by 10 thermal power plants of the company with a total installed capacity of 10.6 million kW. Some 29 hydropower stations with a capacity of 1.4 million kW are mainly united in the cascade systems of hydropower stations and work on hydro watercourse.

Edited by CN

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