The Board of AB Kauno Energija (hereinafter – the Company) (code – 235014830) assessed results of Company’s business activity of the I quarter of the year 2017 and financial state as at 31 March 2017 and approved AB Kauno Energija consolidated and Company’s non-audited results of the I quarter of the year 2017.
The result of Company’s activities of the 1 quarter of the year 2017 according to the International Financial Reporting Standards is profit (before taxes) in amount of EUR 7,593 thousand (the result of the 1 quarter of the year 2016 was EUR 9,403 thousand), turnover from sales is EUR 27,241 thousand (in the 1 quarter of the year 2016 it was EUR 30,394 thousand). The result of activities of the 1 quarter of the year 2017 of the Group which consists of AB Kauno Energija and its’ subsidiaries UAB Kauno Energija NT (code – 303042623) and UAB Petrašiūnų katilinė (code – 304217723), is profit (before taxes) in amount of EUR 7,758 thousand (the result of the 1 quarter of the year 2016 is EUR 9,395 thousand), turnover from sales amounted to EUR 27,235 thousand (turnover from sales of the 1 quarter of the year 2016 was EUR 30,390 thousand).
The rate of critical liquidity of the Company that makes comparison between short term assets without stocks and short term liabilities, increased from 1.44 to 2.56 during the period from the end of 2016 (the rate of the Group increased from 1.14 to 1.96) as at the end of reporting period (31 March 2017). The EBITDA of the Company of the 1 quarter of the year 2017 is EUR 9,431 thousand (EBITDA of the 1 quarter of the year 2016 was EUR 11,161 thousand), and EBITDA of the Group is EUR 9,812 thousand (EBITDA of the 1 quarter of the year 2016 was EUR 11,157 thousand.
The main Company’s revenue and profit is generated in 1 and 4 quarters of the year. Company’s turnover from sales of the 1 quarter of the year 2017 in comparison with the turnover from sales of the same period of the year 2016 is at 10.4 per cent less due to the 3.6 percent less amount of heat sold and 7.1 per cent less heat price (in January – March of the year 2017 it was 5.14 ct/kWh, and in January – March of the year 2016 it was 5.53 ct/kWh).
We hereby present an Interim Non-audited Financial Statements of the 1 quarter of the year 2017 together with confirmation of responsible persons.
Loreta Miliauskienė, Head of the Economics and Planning Department, tel. +370 37 305 855
