Companies

Kharkivoblenergo (HAON)

Business Profile

Kharkivoblenergo, one of the largest power distributors in Ukraine, serves the highly industrialized Kharkiv region (area: 31,400 km2; population: 2.8 million). It owns a 47,801 km grid with 7,799 MWA of transformer capacity. The oblenergo has a diversified customer base including 1.17 million households and 3,000 industrial customers (mostly machine-building plants). Those two groups account for 39% and 38% of the oblenergo’s energy sales, followed by commercial consumers (17%), transportation companies (3%) and agricultural farms (2%).

Financial Summary

Indicator200920102011E2012E2013F
Sales ($m)254326************
EBITDA ($m)2120************
Net Income ($m)34************
Net Debt ($m)(5)0************

Valuation Summary

Indicator200920102011E2012E2013F
P/E14.310.0************
P/Sales0.150.12************
EV/EBITDA1.61.8************
P/Book0.230.21************
Prices are quoted in UAH.


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