Energijos Skirstymo Operatorius AB - Interim information

Lietuvos dujos results 2015: revenue grew by 0.6 % up to EUR 54.9 million, EBITDA – 18.2 % up to EUR 24 million

Energijos Skirstymo Operatorius AB, identification code 304151376, registered
office placed at Aguonu str. 24, Vilnius, Republic of Lithuania. The total
number of registered ordinary shares issued by company is 894 630 333; ISIN
code LT0000130023. 

During 2015, the natural gas distribution company Lietuvos dujos significantly
improved its performance indicators, the company's EBITDA and net profit were
consistently increasing in view of decreasing operating costs. Furthermore, due
to its active measures and the favourable situation in the natural gas market
Lietuvos dujos increased the number of its customers and sales revenues. 

As compared to 2014, the sales revenues of Lietuvos dujos in 2015 increased by
0.6 % to EUR 54.9 million. An important contributor to the increase of the
corporate revenue were the reviewed distribution service prices that were
adjusted according to gas consumption forecasts. 

In 2015, Lietuvos dujos generated EUR 24 million in EBITDA (earnings before
interest, taxes, depreciation and amortisation), 18.2 % up since 2014 when
EBITDA was reported at EUR 20.3 million. 

The net profit generated by Lietuvos dujos in 2015 from the gas distribution
activity was 2.2 times larger than at the same time last year, and was recorded
at EUR 12.9 million (in 2014, net profit from gas distribution operations was
EUR 5.9 million). The performance indicators were improved mostly due to larger
revenues and a reduction in costs. 

In the course of the year the costs of Lietuvos dujos decreased by 17 % and
accounted for EUR 41.3 million (EUR 49.8 million in 2014). 

'The organisational and operational improvements implemented in Lietuvos dujos
during 2015 are reflected in the performance of the Company – the increasing
operational efficacy and the decreasing operational costs. Also, due to our
proactive measures and the favourable situation in the market we managed to
attract more new natural gas consumers who opt for natural gas due to its
attractive price, convenient and efficient usage. While continuing our
operations within the ESO we will continue improving our internal processes and
will be looking for possibilities to further enhance our efficiency', says
Liudas Liutkevičius, Chairman of the Board and the CEO of ESO. 

The total investment of Lietuvos dujos accounted for EUR 14 million, or EUR 1.9
million, or 15.7 % more than in 2014, when Lietuvos dujos invested EUR 12.1
million. During 2015, the total investment increased due to a number of new
customers accessing to the gas network, and, as a result, the growing volumes
of the construction of new gas systems. During the period Lietuvos dujos also
invested more in reliability projects, reconstruction and modernisation of the
gas systems. 

In 2015, nearly 4,100 new customers were connected to the distribution network
of Lietuvos dujos, which is by 13.5 % more than last year. 

During 2015, through its distribution pipelines Lietuvos dujos transported 6.8
TWh of natural gas, i.e. about 13.6 % less than last year. The gas distribution
volumes mostly decreased in energy and industry companies due to unusually warm
winter weather, and a decrease in the power production at heat and electricity
production companies. Volumes of gas distribution to private customers and
small businesses remained unchanged. 

A new company Energijos skirstymo operatorius (ESO) established on the basis of
a power supply and distribution company LESTO and natural gas distribution
company Lietuvos dujos started its operations on 1 January 2016. 


         Communication Unit Manager Lina Rimkutė-Žičkė, tel. (8~5) 2514503

Attachments:

LD en.pdf

SKAIDRES LD ENG.pdf