LITGRID AB - Interim information

Litgrid’s 2013 Q1 results keeps up with successful previous year

The pre-tax profit of Litgrid Group made up LTL 24.4 million in 2013 Q1,
compared with LTL 18.2 million in 2012 Q1. Litgrid in 2013 Q1 continues the
trend of successful operation since last year, as the profit of LTL 31 million
in 2012 was gained after having the loss of LTL 19.7 million in 2011. Positive
results were achieved without having to raise the electricity transmission
tariff, which, in fact, fell by 13 per cent from 2010 to 2012. 

“The most important indicator of the key activity of the electricity
transmission system operator, namely the security of electricity transmission,
has been improving for the three consecutive years. With such results we can
rank ourselves among the best performing European electricity transmission
system operators in Europe”, states Virgilijus Poderys, the CEO of the
electricity transmission system operator “Litgrid”. 

The electricity transmission outage indicator (amount of electricity not
transmitted due to system outages) has improved gradually since 2010 and stood
at 7.36 MWh last year. The sophisticated reconstruction of the electricity
transmission grid and the optimisation of dispatcher control in 2012 led to the
faultless operation of the system. 

Litgrid Group's investments in 2013 Q1 amounted to LTL 34.3 million, with 64
per cent invested in the implementation of strategic projects and 36 per cent
in the reconstruction and development of the electricity transmission grid. The
first half of 2013 saw a major breakthrough in the implementation of strategic
electric energy projects. 

All permits were obtained for building the Lithuania-Sweden NordBalt
interconnection facilities, the preparatory works for the construction itself
will begin this year. A temporary road will be built in the nearest future to
link the Curonian Lagoon with the Baltic Sea and horizontal drilling into the
Curonian Spit and the bottom of the Curonian Lagoon will be carried out. 

All permits required for the construction of the overhead electricity line for
the Lithuanian-Polish electricity interconnection LitPol Link are obtained. An
international agreement on the construction of a HVDC back-to-back converter
station, the key component of the project, was signed in February. 

As the implementation of major energy infrastructure projects may affect
people's interests, Litgrid continues a dialogue with society. The Company held
over 100 meetings with the owners of properties that have or are going to have
electricity transmission lines in the neighbourhood. 

The Lithuanian bidding area of the electricity exchange Nord Pool Spot has been
operating for almost a year now. In 2013 Q1, Lithuania bought 62 per cent of
the entire country's electricity demand in the Nord Pool Spot Lithuanian
bidding area. Next week Nord Pool Spot is going to open a bidding area in
Latvia. So the Baltic electricity market will become interconnected and
electricity surplus in one country could be used to reduce electricity prices
in other countries. 

Litgrid Group is comprised of Litgrid, the Lithuanian electricity transmission
system operator, Baltpool energy exchange and Tetas, the provider of technical
maintenance of electrical equipment. 


         Vilija Railaitė
         Director of the Department of Corporate Affairs
         Tel. 8 613 19977,
         E-mail: vilija.railaite@litgrid.eu

Attachments:

Consolidated and the companys condensed interim financial information for a three-month period ended 31 March 2013.pdf