BDO LLC conducted an audit of the financial statements of PJSC “Ukrhydroenergo”, prepared in accordance with IFRS, as of December 31, 2022 and for the year then ended

BDO LLC announces the timely completion  of the audit of the financial statements of the PJSC “Ukrhydroenergo” prepared in accordance with International Financial Reporting Standards (hereinafter — IFRS)  as of December 31, 2022 and for the year ended, and expressing an audit opinion on it.

PJSC “Ukrhydroenergo”  is the leading hydrogenerating company in Ukraine, which is included in the list of 15 largest enterprises of the public sector of the economy. Over the long years of development, PJSC “Ukrhydroenergo” has become one of the key players in the energy market of the country, ensuring the development of a socially responsible, environmentally friendly and technologically developed energy sector, playing an important role in the development of the national economy.

During the planning and execution of the audit of financial statements of the PJSC “Ukrhydroenergo”, a full-scale military invasion on Ukraine by the russian federation started. All companies, including Ukrgadroenergo and BDO in Ukraine, faced issues of employee safety, a significant reduction in demand, migration, acceleration of inflation, bankruptcy of counterparties, reduction of the possibility of obtaining financing and other issues, including the status of companies located in the territories temporarily controlled by the aggressor. But despite this, the joint efforts of PJSC “Ukrhydroenergo” and LLC “BDO” managed to conduct a qualitative and timely audit and expressed an audit opinion on the financial statements of the PJSC “Ukrhydroenergo”, prepared in accordance with IFRS, as of December 31, 2022 and for the year then ended.

“Audit Firm BDO LLC, in spite of everything, continues to provide its clients with audit services of the highest quality”, — said Oleksandr Nikolayenko, key audit partner of BDO LLC.

On April 18, 2023, at a meeting of the Supervisory Board of the PJSC “Ukrhydroenergo”, the results of the audit of the financial statements of the PJSC “Ukrhydroenergo” prepared in accordance with IFRS as of December 31, 2022 and for the year then ended were considered and approved.

According to Valentyn Gvozdiy, Chairman of the Supervisory Board of the PJSC “Ukrhydroenergo”, at the meeting of the Supervisory Board of the Company, where the results of the audit of financial statements were considered: “Last year, the PJSC “Ukrhydroenergo” has repeatedly demonstrated that it operates stably and provides the energy system of Ukraine with balancing energy and mobilized emergency reserve. This was achieved thanks to the effective interaction of the entire staff, which has repeatedly demonstrated high-quality work in extremely difficult conditions, and especially during the past winter period. Being proud of the last year’s achievements, we recommend that the Shareholder approve the audit report on the company’s work.”

Ihor Syrota, General Director of PJSC “Ukrhydroenergo”, noted in the results of 2022: “The autumn-winter period 2022-2023 turned out to be the most difficult in the history of the Ukrainian state. However, all financial obligations that were planned in 2022 have been fulfilled. I am convinced that according to the results of 2022, PJSC“Ukrhydroenergo” became one of the companies that paid the largest amount of taxes to the budget. The funds that we had left, we directed to current and capital repairs of equipment, safety and reliability of operation of hydraulic structures”.

The timely completed audit of the financial statements of the PJSC “Ukrhydroenergo”, which conducted BDO in Ukraine, once again confirms the readiness to make every effort to fulfill its obligations to customers within the specified time frame and of appropriate quality. To learn more about audit services from BDO in Ukraine, WRITE US and we will be happy to continue the dialogue.