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2011-08-31 15:58:27 CEST 2011-08-31 15:59:43 CEST REGULATED INFORMATION LITGRID AB - Interim informationInterim Financial Results of LITGRID AB Group for the First Half of the Year 2011Vilnius, Lithuania, 2011-08-31 15:58 CEST (GLOBE NEWSWIRE) -- LITGRID AB, the Lithuanian transmission system operator, during the first half of year 2011 transmitted 4.62 billion kWh of electricity for domestic needs through the high-voltage electricity grid, that is 2 per cent more than during the first half of 2010. The volume of electricity, transmitted to the distribution network operator LESTO AB totalled 4.08 billion kWh - 0.6 per cent more than during the first half of 2010, to other consumers - 0.54 billion kWh, or 13.6 per cent more. During the first half of 2011 the income of LITGRID group was LTL 209.1 million. The income from electricity transmission contributed 49 per cent of the total income of the group's total income. The EBITDA of LITGRID group for the first half of 2011 stood at LTL 61.2 million, while the EBITDA margin was 29.3 per cent. In the first half of 2011 the net loss of LITGRID group was LTL 4.6 million. The main cause for the loss of the group was the fact that depreciation and amortization expenses in the financial statements (in the first half of 2011 - LTL 66.4 million) are significantly higher than the expenses, calculated while adjusting the transmission tariff (LTL 26.9 million). During 2011 LITGRID AB invested LTL 113.1 million. The bulk part of the investments was allocated to implementation of strategic projects - LTL 88 million or 78 per cent of total investments. The investments into reconstruction and development of the transmission grid amounted to LTL 24 million (22 per cent of total investments). While implementing strategic electric power projects, the publicity procedures of the planning stage of the cross-border electricity interconnections LitPol Link and NordBalt were completed and NordBalt marine cable tests were commenced in the first half of 2011. This information is not confidential. Vilija Railaitė Head of Communications Phone +370 5278 2361 Mobile +370 613 19977 E-mail vilija.railaite@litgrid.eu |
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