Companies

Ukrnafta (UNAF)

Business Profile

Ukrnafta is the largest oil producer and second-largest gas extraction company in Ukraine. It also controls the largest network of fueling stations in the country (563 or 9% of the market). In 2012, Ukrnafta produced 68% of Ukraine’s oil and gas condensate and 10% of natural gas. The company’s 2P reserves are estimated at 0.8 billion boe. Ukrnafta is managed by Privat Group despite the state being a controlling shareholder.

Financial Summary

Indicator2014201520162017E2018F
Sales ($m)2,3451,317************
EBITDA ($m)383278************
Net Income ($m)106(249)************
Net Debt ($m)10(12)************

Valuation Summary

Indicator2014201520162017E2018F
P/E2.7neg.************
P/Sales0.120.22************
EV/EBITDA0.81.0************
P/Book0.300.71************
Prices are quoted in UAH.


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