Preliminary unaudited 1Q 2015 LESTO AB results: net profit increased more than twice to EUR 27.6 million


LESTO AB, identification code 302577612, registered office placed at Aguonu str. 26, Vilnius, Republic of Lithuania. The total number of registered ordinary shares issued by company is 603 944 593; ISIN code LT0000128449.

During the first quarter of 2015 the net profit of LESTO, based on preliminary unaudited financial statements of the Company, amounted to EUR 27.619 million – 2.3 times more compared to the same period of 2014 when it was equal to EUR 11.782 million.  

This was resulted due to significantly lower depreciation and amortization expenses. They are calculated on the basis of a new assessment of the Company’s tangible assets.

During the first quarter of 2015 the company’s EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) amounted to EUR 40.996 million, while in the same period of 2014 was equal to EUR 39.725 million. EBITDA margin increased by 3.45 per cent points and amounted to 26.31 %.

"Consistent operational efficiency continued to improve our results. Increased EBITDA margin demonstrates better efficiency. In the first quarter we introduced 10-year investment plan scheduled investments in a reliable, safe and modern network will contribute in further growth of efficiency in our activities. Moreover, in the beginning of the year we offered customers more convenient service - now in seven major cities electricity and gas consumers are being served in one place," – says Aidas Ignatavičius, CEO of LESTO.

LESTO revenue in the first quarter of 2015 amounted to EUR 155.804 million and, compared with the same period of 2014, declined by 10.32 %.

AB LESTO interim report for the three months of 2015 is due to be published on 29 May, 2015.

This notice is deemed non-confidential.

         Representative for Public Relations Martynas Burba, Tel. No (8~5) 251 4516.