Ukrnafta

Ukrnafta is Ukraine’s top oil company, with a 68% production share in 2016, and second-largest gas producer. It also controls the largest network of filling stations in the country (537; selling 17% of total gasoline and diesel and 10% of LPG). Its 2P reserves are estimated at 0.8 billion boe. Privat Group, with a 40%-plus stake, has historically exercised heavy influence over Ukrnafta, though the state is formally a controlling shareholder.

Shareholders Structure

SUMMARY

Market Price ($) 5.850
Market Cap ($m) 317
Enterprise Value ($m) 1,528
Shares Outstanding 54,228,510
Code UNAF

Recommendations

FV ($) ****
Upside (%) ****
Recommendation ****
Indicator 2016 2017 2018 2019E 2020F
Sales ($m) 852 1,012 *** *** ***
EBITDA ($m) 116 150 *** *** ***
Net Income ($m) (330) 4 *** *** ***
Net Debt ($m) 546 1,172 *** *** ***
Indicator 2016 2017 2018 2019E 2020F
P/E neg. 82.92 *** *** ***
P/Sales 0.37 0.31 *** *** ***
EV/EBITDA 7.4 9.9 *** *** ***
P/Book 3.12 12.08 *** *** ***

Latest news about Ukrnafta

Nov 22, 2019
| Oil & Gas

Ukrnafta — Domestic crude oil averages $63/bbl

Ukrnafta sold 0.96 MMbbl of oil at the latest local auction, recording an average price of $63.0/bbl (+8.3% vs. October sales).
Oct 31, 2019
| Oil & Gas

Ukrnafta — Reports weak 9M19 results

Ukrnafta reported 9M19 net sales of $809m (-19% y-o-y), EBITDA of $37m (-85%) and net loss of $14m (vs. net income of $176m in 9M18), for an EBITDA margin of 4.6% (-20.6pp y-o-y) and net margin of -1.7% (-19.2pp y-o-y).
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