City Service consolidated results for the year 2013

City Service announces its unaudited Consolidated Interim Financial Statements for the year 2013, prepared according to International Financial Reporting Standards.

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| Source: City Service
multilang-release

Consolidated revenue from continued operations of City Service for 2013 was LTL 530.4 million (EUR 153.6 million). In 2012 revenues were LTL 495 million (EUR 143.4 million).

The net profit from continued operations for 2013 reached LTL 19 million (EUR 5.5 million), and EBITDA from continued operations for 2013 comprised LTL 39.4 million (EUR 11.4 million), an increase by 38.6% and 18.7% accordingly over same activities in 2012. Consolidated net profit of City Service group has increased by 53% and reached LTL 24.8 million (EUR 7.18 million) in 2013. Net profit in 2012 was LTL 16.2 million (EUR 4.7 million).

After year end, on February 21, 2014, AB City Service has signed an agreement on sale of UAB Ecoservice shares. UAB Ecoservice is listed as assets held for sale in 2013 financial statements, accordingly UAB Ecoservice revenues and EBITDA are not included in City Service group results from continued operations for 2012 and 2013. Financial result from UAB Ecoservice sale will be accounted in financial statements for 2014.

City Service controls the largest group of integrated utility service companies in Europe. The Group acts in Lithuania, Latvia, Russia, Poland and Spain.                                                         

 

  Sales (mln. LTL)  EBITDA (mln. LTL)  EBIT (mln. LTL)  Net profit (mln. LTL) 
2012 (continued operations unaudited)     495 33.2 26.8 13.7
2013 (continued operations unaudited) 530.4 39.4 29 19
Comparative Capitalization Ratios* 0.4 5.32 7.23 11

* AB City Service market capitalization as of 28 February 2014 to unaudited 2013 sales, EBITDA, EBIT and net profit from continued operations in each column accordingly.             

ENCLUDING: AB City Service unaudited Interim Consolidated Financial Statements for the year 2013 (in LTL).

Vilius Mackonis

Director of Marketing and Communication Department

+370 5 2394900