Companies

Khmelnytskoblenergo (HMON)

Business Profile

Khmelnytskoblenergo is a mid-sized energy distributor in Khmelnytskiy region (area: 21,000 km2; population: 1.4 million). It owns a 35,123 km low-voltage transmission grid with 3,127 MVA of transformer capacity. The oblenergo’s customer base is quite diversified, with 550,000 residential consumers and 10,000 other customers, mostly agricultural. Households account for 37% of Khmelnytskoblenergo’s energy sales, followed by industrial (26%) and commercial consumers (10%).

Financial Summary

Indicator200920102011E2012E2013F
Sales ($m)78107************
EBITDA ($m)810************
Net Income ($m)24************
Net Debt ($m)22************

Valuation Summary

Indicator200920102011E2012E2013F
P/E18.77.7************
P/Sales0.380.28************
EV/EBITDA4.13.1************
P/Book0.830.72************
Prices are quoted in UAH.


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