Centrenergo

Centrenergo is Ukraine’s second-largest thermal generator by capacity (7,665 MW), operating three power plants in the Kyiv, Kharkiv and Donetsk regions. In addition to coal-fired power units, Centrenergo has three 800 MW gas-fired blocks installed at its Vuhlehirska plant and two 300 MW units at Trypilska, yielding a total gas-fired capacity of 3,000 MW. The GenCo’s generating units were built in the 1960s-70s.

Shareholders Structure

SUMMARY

Market Price ($) 0.352
Market Cap ($m) 130
Enterprise Value ($m) 87
Shares Outstanding 369,407,108
Code CEEN

Recommendations

FV ($) ****
Upside (%) ****
Recommendation ****
Indicator 2017 2018 2019 2020 2021E
Sales ($m) 410 533 *** *** ***
EBITDA ($m) 102 38 *** *** ***
Net Income ($m) 71 18 *** *** ***
Net Debt ($m) (38) (17) *** *** ***
Indicator 2017 2018 2019 2020 2021E
P/E 1.83 7.09 *** *** ***
P/Sales 0.32 0.24 *** *** ***
EV/EBITDA 0.9 3.0 *** *** ***
P/Book 0.53 0.61 *** *** ***

Latest news about Centrenergo

Jul 02, 2021
| Electricity Generation

Government to decide on which coal mines to merge with Centrenergo [Suspended], expects privatization in 2Q22

The Deputy Head of the State Property Fund of Ukraine (SPFU) Kostyantyn Koshelenko expects the government to decide on which state owned coal mines to merge with the Centrenergo to create a vertically integrated company ahead of the privatization. The Centrenergo privatization auction is expected in 2Q22.
May 11, 2021
| Electricity Generation

Centrenergo — Reports heavy losses in 1Q21

Centrenergo reported 1Q21 sales of $107m (-47% q-o-q and -37% y-o-y), negative EBITDA of $26m (vs. -$4m in 1Q20 and +$15m in 4Q20) and net loss of $28m (vs. $6.4m loss in 1Q20 and net income of $8m in 4Q20).
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