Vilnius, Lithuania, 2015-02-13 08:45 CET (GLOBE NEWSWIRE) -- Compared with the previous year, sales of the continued gas distribution activity of the Lithuanian gas distribution system operator AB Lietuvos Dujos in 12 months of 2014 increased by 16 percent and amounted to LTL 188.2 million (EUR 54.5 million) (in 2013: LTL 161.9 million (EUR 46.9 million)). The increase was determined by increased distribution service prices set upon the start of the 2014 - 2018 price regulatory period.
Net profit of AB Lietuvos Dujos for 12 months of 2014 totalled LTL 146.2 million (EUR 42.3 million) (compared to last year’s net loss of LTL 106.2 million (EUR 30.8 million)), including the profit of the continued gas distribution activity of LTL 20.3 million (EUR 5.9 million) (net loss of LTL 166.9 million (EUR (48.3 million) was incurred in the same period of last year). Financial results of the continued gas distribution activity for 12 months of 2104 changed essentially as compared to the results of 9 months of 2014, having reflected in retrospect impairment costs of non-current assets as of 31 December 2013, after evaluation of the recoverable amount of non-current tangible assets attributed to distribution activity. 2013 results were restated accordingly. Without considering the impairment of non-current assets, net profit of the continued gas distribution activity would account for LTL 38.7 million (EUR 11.2 million) in 2014 and, respectively, LTL 2.6 million (EUR 0.8 million) in 2013.
EBITDA of the continued gas distribution activity accounted for LTL 70.1 million (EUR 20.3 million) in 12 months of 2014. EBITDA for the last year accounted for LTL 38.1 million (EUR 11.0 million). EBITDA calculations do not assess the impact of the impairment of non-current assets. This change was mostly influenced by better distribution activity results determined by increased revenues.
Net profit of the discontinued gas supply activity carried out for 10 months of 2014, including the result of the sale of gas supply activity, amounted to LTL 126 million (EUR 36.5 million) (last year, net profit of the discontinued gas supply activity was LTL 50.7 million (EUR 14.7 million) and net profit of the discontinued gas transmission activity totalled LTL 10 million (EUR 2.9 million).
Laura Šebekienė
Head of Communications
Ph. +370 633 99940
Email: l.sebekiene@lietuvosdujos.lt