Operating results of electricity distribution network operator AB LESTO Group are improved due to reduced group‘s operating costs, efficient investments and increasing volume of network service – during the first half of the year LESTO consolidated net profit amounted to 22.85 million LTL, while during the same period of 2012 group‘s net loss made up 14.29 million LTL.
During the first half of 2013 LESTO group earned 1.22 billion LTL and comparing with the first half of 2012 sales revenue increased by 5.5%. Such revenue change was influenced by the increase of Public Service Obligations (PSO) fee and increase of other services, that are provided in the sector, prices. During the six months of 2013 electricity purchase costs declined by 4.1% comparing with the same period of 2012 and made up 843.65 million LTL. Volume of network service increased by 1.67% and reached 4.15 billion kWh.
The increase in effectiveness of LESTO group shows growing EBITDA margin (Earnings Before Interest, Taxes, Depreciation and Amortization) – in the first half of 2013 it was 19.65 % when in the same period of 2012 – 17.39%, 2011 – 16.44%. EBITDA of the group increased by 19.29 % comparing with the six months of 2012 and reached 239.85 million LTL.
LESTO Group’s operating costs for the first half of 2013 decreased by 4.79% comparing with the same period of 2012 and amounted to 150.87 million LTL. During the reporting period repair and maintenance expenses and transport expenses were among operating costs that declined the most, respectively 18.61% and 10.57%.
„Targeted LESTO investments during the first half of the year have led to extremely low index (7%) of technological losses in the distribution network – savings of kilowatt-hours have improved LESTO operating results as well as contributes to the efficiency of energetic sector. This year LESTO implements many European Union funded projects which are also directed to the modernization of the distribution network – in the long run this will further improve the quality of network service and reduce the volume of kilowatt-hours lost“ - states Virgilijus Žukauskas, temporary acting CEO of LESTO AB.
LESTO is part of “Lietuvos energija”, UAB group.
This notice is deemed non-confidential
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