Kauno Energija - Notification on material event

The activity results of the 1 half of the year 2014

The Management Board of AB Kauno Energija (hereinafter - the Company) (code -
235014830) approved on 31 July, 2014 non audited interim financial statements
of the 1 half of the year 2014, which ended on 30 June, 2014, prepared
according to the International financial reporting standards accredited to use
in European Union. 

The result of Company's activities of the 1 half of the year 2014 according to
International accounting standards is profit (before taxes) in amount of LTL
6,243 thousand (EUR 1,808 thousand), turnover from sales is LTL 160,170
thousand (EUR 46,388 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 1 half of the year 2014 is profit (before taxes) in amount of LTL 6,267
thousand (EUR 1,815 thousand), turnover from sales is LTL 160,151 thousand (EUR
46,383 thousand). 

EBITDA of the 1 half of the year 2014 is: Company's - LTL 16,596 thousand (EUR
4,807 thousand), Group's - LTL 16,650 thousand, (EUR 4,822 thousand). 

Company's profit of the 1 half 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. Company's turnover from sales of the 1 half of the year
2014, as compared to the same period of the year 2013 are lower at 22.9 percent
due to the 14.07 percent lower amount of heat sold (useful supplies of the heat
into heat network in the 1 half of the year 2014 was 635.9 thousand MWh and in
the 1 half of the year 2013 - 740.1 thousand MWh) and due to the 10,8 percent
decreased average heat sales price (the average heat sales price in January -
June of the year 2014 was 24.80 ct/kWh, and in January - June of the year 2013
- 27.80 ct/kWh). 

The management comment on the results of the 1 half of the year 2014:

In the year 2014 the Company further successfully continues to implement main
investment projects and seeks for these goals: to reduce heat production
expenditures in existing heat production sources, to increase part of cheaper
sort of fuel (biofuel) in fuel balance, to increase capacities of own
production sources up to fulfilling of needs of power assurance, to assure
reliable heat supplies, to decrease supply losses, and to increase
effectiveness of the system of heat supplies. 


         Head of Asset Management Department Jovita Sereikienė, +370 37 305664

Attachments:

Fin.stattmens_I halt of 2014.pdf