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2020-12-07 15:00:00 CET 2020-12-07 15:00:00 CET REGULATED INFORMATION Klaipedos Nafta - Notification on material eventAB Klaipėdos nafta preliminary revenue for the November 2020AB Klaipėdos nafta (further the Company) reviewed operating segments since the beginning of the second quarter of 2020 and presents revenue disclosures accordingly. The following operating segments of the Company are:
The preliminary sales revenue of the Company’s oil terminals for the November 2020 comprised EUR 2.3 million and is lower by EUR 0.7 million or by 23.3 % compared to November of 2019. The preliminary sales revenue of the Company’s oil terminals for the eleven months of 2020 comprised EUR 28.8 million and is lower by 2.7 % compared to the same period of 2019. The preliminary sales revenue of the Company’s Commercial LNG activity for the November 2020 comprised EUR 0.2 million. If compared to the respective period last year, the preliminary sales revenue is higher due to Business development projects consultation revenue and increase of small-scale LNG station revenue. The preliminary sales revenue of the Company’s Commercial LNG activity for the eleven months of 2020 comprised EUR 2.5 million. Total preliminary sales revenue of the Company for the January-November 2020 amount to EUR 71.2 million and is lower by 24.9 % compared to the same period of 2019 - EUR 94.8 million. Preliminary revenue of the Company, EUR million:
Comment by the Company management: The significant factor, which influenced the total Company‘s revenue result in January-November, 2020, was lower revenue of Klaipėda LNG terminal, following from the KN decisions, adopted in 2019, to optimize Klaipėda LNG terminal costs and reduce the cost of LNG terminal infrastructure for consumers, starting from 2020. Due to the implementation of this decision, KN revenue for the eleven months period was lower by 24,6 million EUR. KN’s oil business is affected this year by oil refining margins still at historic lows, geopolitical circumstances, as well as the global coronavirus pandemic, which has reduced demand for oil products worldwide and put restrictions on operation of oil refineries. Due to the mentioned circumstances, a decrease in oil products transhipment is observed, however it is compensated by the increased demand for the long-term storage of oil products. Despite unfavourable market conditions in eleven months of 2020 Company’s efforts in efficiency and flexibility to adapt to client needs helped ensuring preliminary revenues from the operation of oil terminals close to the corresponding period a year ago. Jonas Lenkšas, Chief Financial Officer, +370 694 80594. |
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