The unaudited results for the first quarter of 2011 of Limarko laivininkystes kompanija AB (LLK) were prepared in accordance with the International Financial Reporting Standards.
The revenue of LLK for the first quarter of 2011 amounted to LTL 28.6 million (EUR 8.3 million) and decreased by 14% when compared to the revenue of LTL 33.3 million (EUR 9.6 million) during the first quarter of 2010.
During the first quarter of 2011 LLK achieved the EBITDA of LTL 7.4 million (EUR 2.1 million) and the EBITDA margin was 26%. The EBITDA for the first quarter of 2010 was LTL 5.9 million (EUR 1.7 million) and the EBITDA margin was 18%.
The pre-tax profit of LLK for the first quarter of 2011 was LTL 9.6 million (EUR 2.8 million). The loss of LLK for the first quarter of 2010 was LTL 12.1 million (EUR 3.5 million).
The main reasons affecting the results of the first quarter of 2011 were:
- LTL 0.8 million (EUR 0.2 million) profit from the main activity after seven consecutive unprofitable quarters;
- the fall of the exchange rate of the US Dollar, which resulted in the currency exchange rate change gain of LTL 10.0 million (EUR 2.9 million).
ENCL.:
- Interim Financial Statements for the first three months of 2011
Vytautas Lygnugaris
CEO
Tel. +370 46 340001 (ext. 713)
