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

Indicator20132014201520162017E
Sales ($m)2,5862,345************
EBITDA ($m)286383************
Net Income ($m)23106************
Net Debt ($m)(18)10************

Valuation Summary

Indicator20132014201520162017E
P/E11.02.4************
P/Sales0.100.11************
EV/EBITDA0.80.7************
P/Book0.120.27************
Prices are quoted in UAH.


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