Companies

Centrenergo (CEEN)

Business Profile

Centrenergo is Ukraine’s second-largest thermal generator by capacity (7,550 MW), operating three power plants in the industrialized Kyiv, Kharkiv and Donetsk regions. Centrenergo has three 800 MW gas-fired blocks at its Vuhlehirska plant and two 300 MW gas-fired blocks at Trypilska plant, implying a total gas-fired capacity of 3,000 MW. The company’s generating units were built in the 1960s-70s.

Financial Summary

Indicator2014201520162017E2018F
Sales ($m)613314************
EBITDA ($m)2612************
Net Income ($m)61************
Net Debt ($m)(1)(14)************

Valuation Summary

Indicator2014201520162017E2018F
P/E25.9157.6************
P/Sales0.260.50************
EV/EBITDA6.112.4************
P/Book1.241.61************
Prices are quoted in UAH.


*Data available to Dragon Capital's institutional clients only.