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2017-11-17 17:10:13 CET 2017-11-17 17:11:19 CET REGULATED INFORMATION Lietuvos Energija UAB - Interim informationSuccessful Results of Lietuvos Energija were ensured by cutting costs and diversified activitiesThe state-owned group of energy companies Lietuvos Energija maintained moderate growth of financial results in the first three quarters of the current year. The decrease of energy and gas transmission and distribution prices to the clients has caused a 2.5 per cent decline in the revenue of the group. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), however, grew by 5 per cent (to EUR 166 million) thanks to the further decrease of operation costs, enhanced efficiency and diversification of the operating revenues of the group. The Return on Equity (ROE) rate of Lietuvos energija has remained high and amounted to 9.3 per cent in this period. “Lietuvos Energija continues to demonstrate balanced growth. The decision to diversify and expand business activities already gave results – the adjusted EBITDA grew regardless of the decreased power and gas transmission and distribution prices. This was compensated from other activities, i.e. generation from renewable energy sources and enhanced gas and power trade portfolio. The refinement of value chain continued to create conditions for cost reduction and efficiency improvement by diverting resources to the higher quality services, the reduction of duration of grid connection and the development of new services. All this allows us to create more value to our customers and ensure return to the state at the same time”, says Mindaugas Keizeris, CEO and Chairman of the Board of Lietuvos Energija. Key indicators of Lietuvos Energija Group for Q I-III of 2017:
Director of Corporate Communications Division at Lietuvos energija, UAB, Laura Šebekienė, +370 63399940, laura.sebekiene@le.lt |
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