Electricity distribution network operator’s AB LESTO (further – LESTO) group earned profit for the three consecutive quarters – group‘s net profit amounted to 42.27 million LTL, while during the same period of 2012 group net loss made up 24.91 million LTL. The results are improved due to reduced operating costs, efficient investments of the group and increasing volume of network service.
During the three quarters of this year LESTO group earned 1.79 billion LTL, comparing with the same period of 2012 sales revenue increased by 6.67 %. Such change of revenue was influenced by the increased: Public Service Obligations (PSO) fee, increased prices of electricity transmission services, higher electricity purchase prices. During the nine months of 2013 electricity purchase costs increased by 5 % comparing with the same period of 2012 and made up 1.23 billion LTL. Volume of network service increased by 1.9 % and reached 6.07 billion kWh.
The increase in effectiveness of LESTO group determine growing EBITDA margin (Earnings Before Interest, Taxes, Depreciation and Amortization) – during the nine months of 2013 it was 19.86 % when in the same period of 2012 – 17.84 %. EBITDA of the group increased by 18.7 % comparing with the nine months of 2012 and reached 355.33 million LTL.
„More efficient activities of the company improved the financial results of the group. First of all, on time performed targeted investments have declined technological losses in the distribution network - totaled to 7 % in the reporting period. Optimized business processes and new technologies have allowed LESTO to reduce operating costs. The growing number of new customers and the increasing volume of network service have expanded the company‘s revenue and thus further improved the results“– states Aidas Ignatavičius, CEO of LESTO.
During the nine months of 2013, 32 % of electricity network service volume was allocated to residents. Industrial and service institutions consumed 28 % and 11 % of network service volume respectively.
The value of LESTO group assets at the end of the reporting period made up 5.07 billion LTL.
LESTO is one of the biggest companies by market capitalization in OMX Baltic securities exchange market.
LESTO is part of “Lietuvos energija”, UAB, group.
This notice is deemed non-confidential.
Representative for Public Relations Ernestas Naprys, Tel. No (+370~5) 251 4516.