Lietuvos Juru Laivininkyste AB - Interim information

PC "Lithuanian shipping company" activity results and interim financial statements for the nine month 2013

Klaipeda, Lithuania, 2013-11-25 15:57 CET (GLOBE NEWSWIRE) -- <span style="font-size:10pt;"><strong style="font-size: 11pt;"><span
style="font-family:Times New Roman, Times, serif;">Activity results for the
nine  months of 2013</span><span style="font-family:Times New Roman, Times,
serif;">.</span></span><span style="font-family:Times New Roman, Times, serif;">On 22 November, 2013
the Board of PC “Lithuanian Shipping Company” (LSC) has confirmed unaudited
interim financial reports prepared according to the International Financial
Reporting Standards for the period of six months of year 2013, ended on 30
September, 2013.</span><span style="font-family:Times New Roman, Times, serif;">The income during
January- September, 2013 was LTL 72,1 million (EUR 20,9 million) and, if
compared to the same months of 2012 income of LTL 60,3 million (EUR 17,5
million), has increased by 19,6%.</span><span style="font-family:Times New Roman, Times, serif;">EBITDA during
January- September, 2013 was LTL 2,7 million (EUR 0.8 million), EBITDA during
the nine  months of  2012 was LTL 10,4 million (EUR 3,0 million).</span><span style="font-family:Times New Roman, Times, serif;">The loss during
January-September, 2013 was LTL 11,2 million (EUR 3,2 million), of which LTL
1,0 million (EUR 0.3 million) is related to positive  impact of currency
exchange. The loss of the same months of 2012 was LTL6,3 million (EUR 1,8
million).</span><span style="font-family:Times New Roman, Times, serif;">LSC long-term
investments (ships' repairs) during January-September, 2013 were LTL 5,1
million (EUR 1,8 million). Long-term investments during the same months of 2012
were LTL 7,1 million (EUR 2,1 million).</span><span style="font-family:Times New Roman, Times, serif;">Due to protracted
economic hardship in the global shipping market the interim results for the
nine months of 2013 did not meet management's expectations. Considering that
during the period January-September, 2013 all planned ship's repairs for the
year 2013 were fully performed LSC expects to stable and more cost-effective
performance in the  4 quarter  of 2013.</span><span style="font-family:Times New Roman, Times, serif;">Attachment:</span><span style="font-family:Times New Roman, Times, serif;">LSC interim financial
reports for the period of  nine months ended on 30th  September, 2013.</span><span style="font-family:Times New Roman, Times, serif;">Arvydas Stropus</span><span style="font-family:Times New Roman, Times, serif;">Chief Accountant</span><span style="font-family:Times New Roman, Times, serif;">Ph.: (+370 46)
393126</span>

Attachments:

LSC confirmation respons. persons and Financial statements of nine month 2013.pdf