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 ($) 0.323
Market Cap ($m) 119
Enterprise Value ($m) 117
Shares Outstanding 369,407,108
Code CEEN

Recommendations

FV ($) ****
Upside (%) ****
Recommendation ****
Indicator 2017 2018 2019 2020E 2021E
Sales ($m) 410 533 *** *** ***
EBITDA ($m) 102 38 *** *** ***
Net Income ($m) 71 18 *** *** ***
Net Debt ($m) (38) (17) *** *** ***
Indicator 2017 2018 2019 2020E 2021E
P/E 1.68 6.51 *** *** ***
P/Sales 0.29 0.22 *** *** ***
EV/EBITDA 0.8 2.7 *** *** ***
P/Book 0.49 0.56 *** *** ***

Latest news about Centrenergo

Mar 31, 2021
| Electricity Generation

Centrenergo — Reports marginal profitability for 2020, strong cash position

Centrenergo reported 2020 sales of $764m (+30% y-o-y), EBITDA of $17m (vs. -$68m in 2019) and net income of $2.3m (vs. $77m loss in 2019), implying an EBITDA margin of 2.2% (+14pp y-o-y) and a net margin of 0.3% (+13pp).
Mar 01, 2021
| Electricity Generation

Centrenergo — Management reshuffle; marginally profitable in 4Q20 and 2020

The State Property Fund announced it replaced the CEO and management board at thermal power generator Centrenergo. Separately, the company has reportedly earned UAH 50m ($1.9m) of net income in 2020.
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