Lietuvos Energija AB - Interim information

Unaudited consolidated business results of Lietuvos Energija AB group for H1 2010

Unaudited consolidated business results of Lietuvos Energija AB group for H1
2010: 
- income - LTL 838.86 million  (EUR 242.95 million (income in H1 2009 totaled
LTL 827.36 million (EUR 239.62 million)); 
- pre-tax profit - LTL 88,58 million (EUR 25.65 million (in H1 2009 a pre-tax
loss of LTL 31.35 million was incurred  (EUR 9.08 million)); 
- net profit - LTL 71.14 million (EUR 20.6 million (in H1 2009 a net loss of
LTL 26.4 million was incurred (EUR 7.65 million)). 
During H1 2010 acting as the transmission system operator, LITGRID AB, a
daughter company of Lietuvos Energija AB, transmitted 4.53 billion
kilowatt-hours (kWh) of electricity for domestic needs. The volume of
transmitted electricity was lower by 2.1 per cent than in H1 2009. Following
the closure of Ignalina nuclear power plant, generation in Kaunas HPP and
Kruonis PSP, subsidiaries of Lietuvos Energija AB, rose to 676 million kWh (by
31.8 per cent more than in H1 2009). 
The results of Lietuvos Energija AB group of companies for H1 2010, compared to
H1 2009, were positively influenced by the increased generation in Kaunas HPP
and Kruonis PSP, decreased expenses in generation equipment, decreased
operational expenses and decreased depreciation due to the impairment of asset
value after its reappraisal at the end of 2009, according to the index of
construction prices. Moreover, the improved results of H1 2010, compared with
H1 2009, were influenced by asset value reappraised in H1 2009, due to which
the decrease in asset value was accounted. 
A positive influence on the results was made by the decreased expenses of loan
interest, after Lietuvos Energija AB paid back its all loans. 

Attachment: 
Consolidated and company's Interim financial statements for 6 month period
(unaudited)

Attachments:

first half 2010 business results.pdf