The activity results of the 1 half of the year 2014

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| Source: Kauno Energija
multilang-release

The Management Board of AB Kauno Energija (hereinafter – the Company) (code – 235014830) approved on 31 July, 2014 non audited interim financial statements of the 1 half of the year 2014, which ended on 30 June, 2014, prepared according to the International financial reporting standards accredited to use in European Union.

The result of Company’s activities of the 1 half of the year 2014 according to International accounting standards is profit (before taxes) in amount of LTL 6,243 thousand (EUR 1,808 thousand), turnover from sales is LTL 160,170 thousand (EUR 46,388 thousand). The result of activities of the Group which consists of AB Kauno Energija and of its subsidiaries UAB Pastatų Priežiūros Paslaugos (code – 300580563) and UAB Kauno Energija NT (code – 303042623) of the 1 half of the year 2014 is profit (before taxes) in amount of LTL 6,267 thousand (EUR 1,815 thousand), turnover from sales is LTL 160,151 thousand (EUR 46,383 thousand).

EBITDA of the 1 half of the year 2014 is: Company’s – LTL 16,596 thousand (EUR 4,807 thousand), Group’s – LTL 16,650 thousand, (EUR 4,822 thousand).

Company’s profit of the 1 half of the year 2014 before income taxes, compared to the same period of the year 2013 decreased due to the decreased heat sales price and turnover. Company’s turnover from sales of the 1 half of the year 2014, as compared to the same period of the year 2013 are lower at 22.9 percent due to the 14.07 percent lower amount of heat sold (useful supplies of the heat into heat network in the 1 half of the year 2014 was 635.9 thousand MWh and in the 1 half of the year 2013 – 740.1 thousand MWh) and due to the 10,8 percent decreased average heat sales price (the average heat sales price in January – June of the year 2014 was 24.80 ct/kWh, and in January – June of the year 2013 – 27.80 ct/kWh).

The management comment on the results of the 1 half of the year 2014:

In the year 2014 the Company further successfully continues to implement main investment projects and seeks for these goals: to reduce heat production expenditures in existing heat production sources, to increase part of cheaper sort of fuel (biofuel) in fuel balance, to increase capacities of own production sources up to fulfilling of needs of power assurance, to assure reliable heat supplies, to decrease supply losses, and to increase effectiveness of the system of heat supplies.

         Head of Asset Management Department Jovita Sereikienė, +370 37 305664