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2021-04-30 17:00:00 CEST 2021-04-30 17:00:12 CEST REGULATED INFORMATION Klaipedos Nafta - Interim informationCorrection: AB Klaipėdos nafta unaudited financial information regarding the three months of 2021Correction: the number of shares held and part of ownership corrected in the financial statements. AB Klaipėdos nafta (hereinafter – KN, the Company) announces the unaudited consolidated (hereinafter – the Group) and separate financial results for the three months ended 31 March 2021.
Main financial indicators of the Group comparing 3 months of 2021 and 2020:
Management comment: During 3 months of 2021, the same as during 2020, the Group‘s and the Company‘s net profit was significantly affected by fluctuations of unrealized currency exchange rates. The unrealized impact of exchange rates arose from the 1st January of 2019 under the requirements of IFRS 16 “Lease”, which indicated the Company to capitalise finance lease obligations and the major part of them is denominated in US dollars. Whereas all US dollar denominated lease liabilities relate to LNG terminal, the effect of unrealized exchange rate is reflected in the regulated segment. Regulated LNG activities revenue for 3 months of 2021 is EUR 8.9 million and is lower by EUR 2.5 million or 21.9% compared to the same period of 2020 (EUR 11.4 million). The main reasons for the lower revenue are due to lower regasification volumes, compared to the same period in 2020, and because of proportionate reduction of security supplement in 2021, based on the surplus of LNG return from the period 2014-2019, which was established for the regulated activities of the Company, and is equal to EUR 1.9 million. Revenue from commercial LNG activities for the three months of 2021 is EUR 1.4 million and is higher by 40,0% compared to the same period in 2020 (EUR 1.0 million). Commercial LNG activities consist of business development projects including LNG terminal operator services provided at the Port of Açu terminal in Brazil and LNG reloading station in Klaipėda. Revenue from oil terminals for the three months of 2021 is lower by EUR 2.1 million compared to the same period in 2020. Ongoing restrictions in European countries due to COVID-19 pandemic continued to affect volumes of oil product handled via KN oil terminal during Q1 of 2021. In December 2020, the client of the company BNK (UK) Limited has informed about the temporary suspension of oil products sales through Klaipėda. In the first quarter, BNK completed the handling of oil products, which were loaded through the KN oil terminal based on sales contracts before transshipment suspension through the port of Klaipėda. During three months of 2021, KN offered to market participants spare terminal capacities for handling other products and services, the Company rented part of the available capacities for gasoline and ethanol storage as well as extended cooperation for biofuel handling in 2021. Enclosed:
Jonas Lenkšas, Chief Financial Officer, +370 694 80594. Attachments |
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