Kauno Energija - Interim information

CORRECTION: Activity results of 9 months of the year 2017

Correction: We hereby present a corrected Financial Statements of the I-III quarters of the year 2017 (attached). The result of the III quarter of the Group and The Company is corrected due to the technical mistake. The results of 9 months of the year 2017 of the Group and the Company remain the same.

The Board of AB Kauno Energija (hereinafter – the Company) (code – 235014830) assessed results of Company’s business activity of 9 months of the year 2017 and financial state as at 30 September 2017 and approved AB Kauno Energija consolidated and Company’s non-audited results of 9 months of the year 2017.

The result of Company’s activities of 9 months of the year 2017 according to the International Financial Reporting Standards as adopted by the European Union is profit in amount of EUR 3,180 thousand (the result of 9 months of the year 2016 was amounted to EUR 3,584 thousand), turnover from sales is EUR 39,322 thousand (in 9 months of the year 2016 it was amounted to EUR 39,889 thousand). The result of activities of the Group which consists of AB Kauno Energija and its’ subsidiaries UAB Kauno Energija NT (code – 303042623) and UAB Petrašiūnų katilinė (code – 304217723) of 9 months of the year 2017 is profit in amount of EUR 2,923 thousand (the result of 9 months of the year 2016 is EUR 3,752 thousand), turnover from sales is amounted to EUR 39,314 thousand (turnover from sales of 9 months of the year 2016 is amounted to EUR 39,884 thousand).

As at the end of the reporting period (30 September 2017) the rate of critical liquidity of the Company that makes comparison between short-term assets and short-term liabilities, increased from 1.48 to 1.49 during the period from the end of the year 2016 (the same rate of the Group decreased from 1.18 to 1.05). The EBITDA of the Company of 9 months of the year 2017 is EUR 8,494 thousand (EBITDA of 9 months of the year 2016 was EUR 8,830 thousand), and EBITDA of the Group is EUR 8,775 thousand (EBITDA of 9 months of the year 2016 was EUR 8,980 thousand.

The main Company’s revenue and profit is generated in 1 and 4 quarters of the year. Company’s turnover from sales of 9 months of the year 2017 in comparison with the turnover from sales of the same period of the year 2016 is at 1.40 per cent less due to the decrease in average heat price at 7.49 per cent (in January – September of the year 2017 it was 4.82 ct/kWh and in January – September of the year 2016 it was 5.21 ct/kWh). Chargeable amount of heat in 9 months of the year 2017 was at 6,15 per cent more than in the year 2016 (in 9 months of the year 2017 790,5 thousand MWh of heat charged, and in 9 months of the year 2016 – 744,7 thousand MWh).

We hereby present an interim unaudited Financial Statements of the I-III quarters of the year 2017 together with confirmation of responsible persons.

Gintautas Muznikas, Head of the Finance Department, tel. +370 37 305 662.

Priedai:

IFRS KE ENG 2017 I-III.pdf