Vilnius, Lithuania, 2015-05-15 15:00 CEST (GLOBE NEWSWIRE) -- Implementing of the provisions of the Third Energy Package of the European Union for the unbundling of activities in natural gas sector, the natural gas supply activity with the assets, rights and obligations attributed thereto according to their state of 31 October 2014 were sold to UAB Lietuvos Dujų Tiekimas under the sale and purchase agreement of a part of AB Lietuvos Dujos of 15 October 2014. For comparability of information, below are provided data of the continued natural gas distribution activity for the three-month period of 2014.
Income from sales of the Lithuanian gas distribution system operator AB Lietuvos Dujos in three months of 2015, compared with the previous year, increased by 2 percent and amounted to EUR 20.5 million (in 2014: EUR 20.2 million respectively).
Net profit of AB Lietuvos Dujos for three months of 2015 totalled EUR 8.2 million (net profit for 3 months of 2014 totalled EUR 9.6 million, out of it the profit of the continued gas distribution activity of EUR 6.8 million; and of the discontinued supply activity - EUR 2.8 million). Comparing the net profit earned from the gas distribution activity, it was higher by 21.5 per cent this year than during the same period last year.
During the first three months of 2015, AB Lietuvos Dujos earned the profit of EUR 12 million before interest, taxes, depreciation and amortization (EBITDA), or 10.5 percent more than in January-March 2014 when EBITDA accounted for EUR 10.8 million. This change was due to improved operating results due to lower costs of purchase of natural gas for technological purposes.
‘Due to consistent increase of effectiveness of operations of AB Lietuvos Dujos, the financial results of the company in the first quarter of this year improved significantly. The net profit earned by the company increased by one fifth and EBITDA - increased by one tenth. Such results were achieved using the company's resources rationally and increasing the core activity more efficient,’- says Liudas Liutkevicius, Chairman of the Board and CEO of AB Lietuvos Dujos.
The pre-audited financial report for the three-month period of 2015 and the interim report of AB Lietuvos Dujos will be published on 29 May.
Laura Šebekienė
Head of Communications
Ph. +370 633 99940
Email: l.sebekiene@lietuvosdujos.lt