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

Indicator20142015201620172018E
Sales ($m)613314************
EBITDA ($m)2612************
Net Income ($m)61************
Net Debt ($m)(1)(14)************

Valuation Summary

Indicator20142015201620172018E
P/E52.3318.8************
P/Sales0.521.02************
EV/EBITDA12.426.2************
P/Book2.513.26************
Prices are quoted in UAH.


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