The Gas Transmission System Operator of Ukraine transferred UAH 5.4 billion to the state budget as an advance payment of dividends based on the Company’s performance in 2023.

This is the first part of the payable amount. In total, based on the 2023 performance, GTSOU will pay to the state budget the largest amount in the entire history of the Company since its creation back in 2019. Such effective performance was achieved by the GTS Operator’s new management led by General Director Dmytro Lyppa.

“The reliability and stability of the GTS Operator’s work is a guarantee of energy security of not only Ukraine, but of entire Europe, too. In addition to that, successful financial results are also a contribution to the economic stability of the state,” – Ukraine’s Minister of Energy German Galushchenko noted.

According to GTSOU’s General Director Dmytro Lyppa, the rest of 2023 dividends will be paid within the period envisaged by Ukraine’s current legislation.

“We are aware of the critical importance of the efficient operation of the gas transportation system operator as a strategically important enterprise for Ukraine, as well as a large payer of taxes and dividends, which is a imperative in these very difficult times for Ukraine,” – GTSOU’s General Director Dmytro Lyppa emphasised.

It should be noted that in 2023, the GTS Operator of Ukraine reduced the use of fuel gas by 33%, as well as cut technological consumption of gas by 59%. This helped the Operator save over UAH 3 billion.

In addition to the advance payment of dividends, based on the last year’s performance, GTSOU paid UAH 10.7 billion to the state budget in taxes. Of these, VAT amounted to UAH 5.3 billion, income tax –  to UAH 3.6 billion, while other taxes and fees (including single social contribution and personal income tax) – to UAH 1.7 billion.