Lietuvos Dujos - Notification on material event

Preliminary pre-audited financial indicators of Lietuvos Dujos for 6 months of 2015: results of the company undergoing reorganization continue to improve

Vilnius, Lithuania, 2015-08-14 15:00 CEST (GLOBE NEWSWIRE) -- Net profit of the
Lithuanian natural gas distribution system operator Lietuvos Dujos generated
from gas distribution activities for 6 months of 2015 was 28 percent greater
compared to the same period of last year and totalled EUR 7.7 million. In
January - June of last year, the profit from the natural gas distribution
activity amounted to EUR 6 million. Having added up the results of the
continued gas distribution activity and terminated gas supply operations, net
profit of the company in Half 1 of 2014 totalled EUR 85.6 million, out of it
the profit from discontinued natural gas supply activities of EUR 79.6 million. 


In H1 of 2015, Lietuvos Dujos earned EUR 13.4 in profit before interest, taxes,
depreciation and amortization (EBITDA), or 12 percent more than in January -
June of 2014 when its EBITDA was EUR 12 million. This change was conditioned by
better operating results determined by increased revenues and decreased costs. 


The Company's sales revenues of 6 months of 2015 increased by 5 percent
compared to last year and amounted to EUR 29.9 million (in 2014: EUR 28.5
million) and the costs of the Company decreased by 1 percent compared to the
same period of last year totalling EUR 21.8 million (in Half 1 of 2014 they
were EUR 22 million, respectively). 


“Efficiency measures implemented in Lietuvos Dujos in the past half of the year
are contributing to improving performance results of the company. Regional
divisions of the company were restructured in a very short period of time,
administration functions were transferred to Lietuvos Energija Group companies,
the functions of public procurement procedures were cleared up and centralized.
We plan to continue increasing the company's operating efficiency until the end
of the year. The potential of benefit created in the company this year is
mostly to further unfold in the performance result of 2016” - said Liudas
Liutkevičius, Chairman of the Board and CEO of Lietuvos Dujos. 


In the implementation of the provisions of the EU Third Energy Package for the
unbundling of natural gas sector activities, assets, rights and obligations of
the natural gas supply activity were sold to UAB Lietuvos Duju Tiekimas as at
31 October 2014 under the contract on the purchase - sale of a part of
enterprise of AB Lietuvos Dujos of 15 October 2014. For comparison purposes,
data of the continued natural gas distribution activity for six months of 2014
are presented above. Moreover, the comparative data of Half 1 of 2014 were
rearranged evaluating the impairment of fixed assets recorded in retrospect as
at 31 December 2013. 



         Laura Šebekienė
         Head of Communications
         Ph. +370 633 99940
         Email: l.sebekiene@lietuvosdujos.lt