Kauno Energija - Notification on material event

Activity results of the 9 months of the year 2014

The Management Board of AB Kauno Energija (hereinafter - the Company) (code -
235014830) approved on 30 October 2014 a non-audited interim financial
statements of the 9 months period of the year 2014, which ended on 30 September
2014, prepared according to the International financial reporting standards
accredited to use in European Union. 

The result of Company's activities of the 9 months period of the year 2014
according to International accounting standards due to the particularity and
seasonality of activity is loss (before taxes) in amount of LTL 4,866 thousand
(EUR 1,409 thousand), turnover from sales is LTL 175,097 thousand (EUR 50,712
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 the 9 months period
of the year 2014 is loss (before taxes) in amount of LTL 4,834 thousand (EUR
1,400 thousand), turnover from sales is LTL 175,079 thousand (EUR 50,706
thousand). 

EBITDA of the 9 months period of the year 2014 is: Company's - LTL 10,642
thousand (EUR 3,082 thousand), Group's - LTL 10,720 thousand (EUR 3,105
thousand). 

Main turnover and profit of the Company is being generated in the 1st and 4th
quarters of the year. Company's profit of the 9 months period of the year 2014
before income taxes, compared to the same period of the year 2013 decreased due
to the decreased heat sales price and turnover, as well as due to the
difference in income of financial and investment activities. Company's turnover
from sales of the 9 months period of the year 2014, as compared to the same
period of the year 2013 are lower at 23.9 percent due to the 12.8 percent lower
amount of heat sold (useful supplies of the heat into network in the 9 months
period of the year 2014 was 717.9 thousand MWh and in the 9 months period of
the year 2013 - 823.3 thousand MWh) and due to the 13.3 percent decreased
average heat sales price (the average heat sales price in January - September
of the year 2014 was 23.89 ct/kWh, and in January - September of the year 2013
- 27.57 ct/kWh). 

We now present not audited interim financial statements of the 9 months of the
year 2014 and Confirmation from responsible persons. 




         Loreta Miliauskienė, Head of the Economics and Planning Department,
tel. +370 37 305 855

Attachments:

IFRS KE ENG.pdf