Lietuvos Dujos - Notification on material event

Preliminary pre-audited financial indicators of AB Lietuvos Dujos for 12 months of 2014

Vilnius, Lithuania, 2015-02-13 08:45 CET (GLOBE NEWSWIRE) -- Compared with the
previous year, sales of the continued gas distribution activity of the
Lithuanian gas distribution system operator AB Lietuvos Dujos in 12 months of
2014 increased by 16 percent and amounted to LTL 188.2 million (EUR 54.5
million) (in 2013: LTL 161.9 million (EUR 46.9 million)). The increase was
determined by increased distribution service prices set upon the start of the
2014 - 2018 price regulatory period. 

Net profit of AB Lietuvos Dujos for 12 months of 2014 totalled LTL 146.2
million (EUR 42.3 million) (compared to last year's net loss of LTL 106.2
million (EUR 30.8 million)), including the profit of the continued gas
distribution activity of LTL 20.3 million (EUR 5.9 million) (net loss of LTL
166.9 million (EUR (48.3 million) was incurred in the same period of last
year). Financial results of the continued gas distribution activity for 12
months of 2104 changed essentially as compared to the results of 9 months of
2014, having reflected in retrospect impairment costs of non-current assets as
of 31 December 2013, after evaluation of the recoverable amount of non-current
tangible assets attributed to distribution activity. 2013 results were restated
accordingly. Without considering the impairment of non-current assets, net
profit of the continued gas distribution activity would account for LTL 38.7
million (EUR 11.2 million) in 2014 and, respectively, LTL 2.6 million (EUR 0.8
million) in 2013. 

EBITDA of the continued gas distribution activity accounted for LTL 70.1
million (EUR 20.3 million) in 12 months of 2014. EBITDA for the last year
accounted for LTL 38.1 million (EUR 11.0 million). EBITDA calculations do not
assess the impact of the impairment of non-current assets. This change was
mostly influenced by better distribution activity results determined by
increased revenues. 

Net profit of the discontinued gas supply activity carried out for 10 months of
2014, including the result of the sale of gas supply activity, amounted to LTL
126 million (EUR 36.5 million) (last year, net profit of the discontinued gas
supply activity was LTL 50.7 million (EUR 14.7 million) and net profit of the
discontinued gas transmission activity totalled LTL 10 million (EUR 2.9
million). 


         Laura Šebekienė
         Head of Communications
         Ph. +370 633 99940
         Email: l.sebekiene@lietuvosdujos.lt