Half-year Net Profit of JSC “Ventspils nafta” Group - 4.35 million euro

Half-year net profit of JSC “Ventspils Nafta” and its subsidiaries (the Group) in 2014 reached 4.35 million euro. Revenue of the Group is made of income from the shipping business - 34.5 million euro and income from transhipment, storage and transportation of petroleum products - 54.5 million euro.

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Ventspils nafta terminals

Revenue of Ventspils nafta terminals grew by 4.25 million euro up to 44.72 million euro, which was caused by a slight increase in the amount of transhipped petroleum products up to 6.4 million tons. Net profit was 6.76 million euro.

LatRosTrans

The amount of petroleum products transhipped by LatRosTrans in the first half of this year was 3.34 million tons. Revenue was 9.66 million euro, but net profit increased by 0.6 million euro up to 3.47 million euro.

Latvian Shipping Company

In the first six months of this year total revenue of the Latvian Shipping Company Group was 47.35 million USD. The Latvian Shipping Company Group closed the reporting period with a loss of 8.32 million USD.  

About JSC “Ventspils nafta”

JSC “Ventspils nafta” is one of the largest groups of companies in Latvia and it operates in the petroleum product transport, transhipment, storage and shipping sector. JSC “Ventspils nafta” is Group’s parent company, which manages investments in subsidiary companies by promoting Group’s joint values and growth in the value of each individual company.

JSC “Ventspils nafta” owns 51 % in “”Ventspils nafta” terminals” Ltd, which is the largest crude oil and petroleum product terminal in the Baltic States; 66 % in “LatRosTrans” Ltd, which is the largest Latvian-Russian joint venture in the Baltic States; 49.94% in JSC “Latvian Shipping Company”, which is among the largest vessel owners in the world in the segment of medium and handy size tankers.

Shares of JSC “Ventspils nafta” (NASDAQ OMX RIGA: VNF1R) are quoted in the Baltic Official List of the stock exchange NASDAQ OMX Riga since October 20, 1998.

Additional information:

Elīna Dobulāne, Communication Consultant

JSC “Ventspils nafta”

Phone: +371-25959447

E-mail: elina.dobulane@vnafta.lv

www.vnafta.lv