Referring to the unaudited preliminary data, in the year 2014 Panevėžio statybos trestas AB (PST) Group was on the income of 364.1 mln. Litas (105.45 mln. Euros), i.e. by 23.6 per cents more than in 2013 and had the loss before taxation in the amount of 12.63 mln. Litas (3.66 mln. Euros). Drop in the exchange rate of the Russian Rouble had a significant negative effect on the results and for this reason the loss incurred by the Group in financial operations amounted to 25.4 mln. Litas (7.4 mln. Euros). From the typical operations the Group had the profit in the amount of 13 mln. Litas (3.76 mln. Euros), i.e. 2.2 times more compared to 5.9 mln. Litas (1.7 mln. Euros) in 2013.
Based on the unaudited preliminary data, the PST Company had the profit before taxation in the amount of 5.28 mln. Litas (1.53 mln. Euros), i.e. 10 times more compared to 0.5 mln. Litas (0.15 mln. Euros) in 2013, and was on the income of 253 mln. Litas (73.3 mln. Euros), i.e. by 24.7 per cents more than in 2013. The Company had the profit in the amount of 12.5 mln. Litas (3.6 mln. Euros) from the typical (construction) operations, whereas in 2013 the profit from the construction operations amounted to only 0.065 mln. Litas (0.018 Euros). Valuation of financial assets (Russian company Baltevromarket ZAO ISK) – 6.6 mln. Litas (1.9 mln. Euros) and drop in the exchange rate of the Russian Rouble – 4 mln. Litas (1.15 mln. Euros) had a negative effect on the results of the Company. Furthermore, in the year 2014 the previously evaluated doubtful debt has been retrieved, thus significantly reducing the operating expenses and having a positive effect on the results of the year.
For more information contact:
Dalius Gesevičius
Managing Director
Phone: (+370 45) 505 503
