2013-03-27 17:57:45 CET

2013-03-27 17:59:09 CET


LITGRID AB - Other information

Outstanding results in 2012 for Litgrid 


Vilnius, Lithuania, 2013-03-27 17:57 CET (GLOBE NEWSWIRE) -- The Litgrid
Group's revenue in 2012 was 508.4 million LTL, while profit before taxes was 31
million LTL. The electricity transmission system operator's primary operations
key performance indicator—electricity transmission reliability—compares
favourably to European electricity transmission companies' best results. 

“Litgrid's most important goals are reliable electricity transmission and the
implementation of strategic projects. When conducting work that carries so much
responsibility and has so much importance to the entire country, our team of
employees' professionalism, responsibility, and goal orientation are especially
important. Last year we worked effectively and with a great deal of drive,
which is why we finished the year profitably, and we made such a great progress
with our strategic electricity projects over the year that this year we are
already beginning their implementation,” said Litgrid managing director
Virgilijus Poderys. 

In 2012, planning work for the LitPol Link and NordBalt international
electricity connections continued, and compensation payments according to
easement establishment contracts were completed to land owners whose property
is found on the power connection construction routes. In Sweden, more than 100
miles of NordBalt sea cable were produced, and the production and installation
contractor for the most important LitPol Link connection unit, the HVDC
converter station, was selected by means of an international tender. 

“Last year we organized more than 50 meetings with various communities to
present our current and future projects. It is important to us that the
nationally important projects we are implementing are understandable and
acceptable to the people through whose neighbourhoods the new electricity
transmission lines will pass,” says Mr. Poderys. Residents were given
information about the progress of on-going infrastructure projects,
electromagnetic fields, and their effects; the Lithuanian electricity
transmission network development plan was presented; and public seminars on the
development of the electricity market in Lithuania and the region were
organized. 

As part of the implementation of the Baltic Energy Market Interconnection Plan
(BEMIP), the Lithuanian bidding area of the Nordic power exchange Nord Pool
Spot was established in June 2012. Results from the first half year of
operations have demonstrated changes in the electricity import structure—an
increasing amount of electricity is being imported from Estonia and Northern
European countries. 

Last year, a resolution of the Government of the Republic of Lithuania
authorized Litgrid to implement a plan for the interconnection of the
Lithuanian power system with the European continental network. While
implementing this strategic project, Litgrid, along with Latvia's and Estonia's
electricity transmission system operators, are preparing a technical
specifications and feasibility study on the interconnection of the energy
systems of the Baltic States with continental European networks, the results of
which will be presented at the end of 2013. 

Litgrid is continuing its Junior Specialists programme. Working with
universities, the smartest graduates are selected to be invited to begin their
careers with the country's main electricity company. “Young people have a
chance to not only learn from the experience of the best energy specialists but
also to prepare to manage the county's electricity system, which after 2015
will be optimally connected with other European electricity systems. This is a
challenge we are already preparing for,” said Mr. Poderys. 



Main Litgrid Group key performance indicators                2012        2011   
--------------------------------------------------------------------------------
Revenue                                                      508.4       434.8  
                                                           million     million  
                                                             LTL                
Pre-tax profit                                            31 million     -19.7  
                                                             LTL       million  
EBITDA margin                                                30.5%       25.6%  
Investments                                                  140.3       159.9  
                                                           million     million  
                                                             LTL         LTL    
Average return on equity                                     1.6%        -0.9%  
Average return on assets                                      1%         -0.7%  
END electrical transmission reliability index (amount of   7.36 MWh    7.55 MWh 
 energy not delivered due to system disconnections)                             
--------------------------------------------------------------------------------

The Litgrid Group's revenue grew 16.9% to 508.4 million LTL in 2012. EBITDA
(earnings before interest, taxes, depreciation, and amortization) was 30.5 %,
or 155.3 million LTL. 

The Litgrid Group's return on assets increased from -0.7% to 1 %, while return
on equity increased from -0.9% to 1.6%. 

The Group's investment for the year was 140.3 million LTL. The largest portion,
69%, was invested in transmission network renovation and development, while 31%
went to implementation of strategic projects. 

Litgrid transferred 9.239 billion kilowatt hours (kWh) of electricity by means
of high-voltage electricity transmission networks in 2012. That made up 43.2%
of the Litgrid Group's revenues. 

The Litgrid Group is made up of the Litgrid Lithuanian electricity transmission
system operator, the Baltpool Lithuanian energy exchange, and Tetas, a company
that conducts electricity equipment technical maintenance. 




         Laura Šebekienė
         Head of Communications
         Ph. + 370 693 65377,
         Email: laura.sebekiene@litgrid.eu