The Board of AB Kauno Energija (hereinafter – the Company) (code – 235014830) assessed results of Company’s business activity and financial state of I quarter of the year 2015 as at 31 March 2015 and approved AB Kauno Energija consolidated and Company’s non-audited results of the I quarter of the year 2015.
The result of Company’s activities of I quarter of the year 2015 according to International Financial Reporting Standards is profit (before taxes) in amount of EUR 4,948 thousand (result of I quarter of the year 2014 was amounted to EUR 3,100 thousand), turnover from sales is EUR 29,732 thousand (in I quarter of the year 2014 it was EUR 37,765 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 I quarter of the year 2015 is profit (before taxes) in amount of EUR 4,942 thousand (of the I quarter of the year – EUR 3,110 thousand), turnover from sales is EUR 29,727 thousand (of I quarter of the year – EUR 37,760 thousand).
As at the end of reporting period (on 31 March 2015) critical liquidity rate of the Company that makes comparison between short term assets without stocks and short term liabilities increased from 0.68 to 0.96 during the period from the end of 2014 (rate of the Group increased from 0.68 to 0.96). Company’s EBITDA of I quarter of the year 2015 is EUR 6,489 thousand (of I quarter of the year 2014 it was EUR 4,588 thousand), Group’s EBITDA – EUR 6,487 thousand (of I quarter of the year 2014 it was EUR 4,603 thousand. The Company invested EUR 2,125 thousand in long term assets during the year 2015. Company’s long term assets increased by EUR 532 thousand and now constitutes to EUR 122,393 thousand.
The main Company’s revenue and profit is generated in I and IV quarters. Company’s result of the I quarter of the year 2015 before income taxes as compared to profit of the same period of the year 2014 increased due to the effective Company’s activities and implemented measures of debts management. Company’s turnover from sales of I quarter of the year 2015 as compared to the same period of the year 2014 is at 21.27 per cent lower due to the 8.67 percent lower quantity of the heat sold (useful supplies of the heat into network in the I quarter of the year 2015 were MWh 541.5 thousand and in the I quarter of the year 2014 they were MWh 592.9 thousand) and due to at the 15.72 per cent reduced average heat price (January – March of the year 2015 – 6.22 euro ct/kWh, January – March of the year 2014 – 7.38 euro ct/kWh).
We hereby present an Interim non-audited Financial Statements of I quarter of the year 2015 along with confirmation of responsible persons.
Jovita Sereikienė, Head of Asset Management Department, +370 37 305 664
