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2009-08-31 18:39:32 CEST 2009-08-31 18:40:34 CEST REGULATED INFORMATION City Service AB - Interim informationCity Service AB interim information for the six months and financial forecast for 2009Consolidated revenues of the Baltics largest facilities management group of companies City Service over the first six months of this year comprised LTL 140.8 million, whereas the consolidated net profit - LTL 6.17 million. Over the same period in 2008, the leader of facilities management market in Lithuania achieved the turnover of LTL 114 million and earned LTL 4.7 million. EBITDA for the first six months of 2009 comprised LTL 11.5 million. This constitutes an increase of 77% in comparison to the same period in 2008, when EBITDA was LTL 6.47 million. “We plan that the revenues of the group in 2009 will exceed those of the previous year by 44% and constitute LTL 382 million“, - said Director General of City Service Žilvinas Lapinskas. In 2008, revenues of the group comprised LTL 264 million. In 2009, City Service plans to earn LTL 13.5 million of net profit. This represents an increase of 56% compared to the last year, when profit comprised LTL 8.6 million. It is forecasted that EBITDA in 2009 will achieve LTL 25.3 million, representing an increase of 74% compared to 2008, when EBITDA was LTL 14.4 million. This year, operations of City Service Group in Russia will also become profitable. Such a result is the consequence of the decision to sell 3 out of 9 controlled communal utilities companies in Saint Petersburg. The companies were sold on August 28th and their sales price exceeded the acquisition cost by 3.5 million roubles (LTL 280 thousand). “After carrying out a comprehensive analysis of perspectives of Russian companies acquired in May this year and successfully selling the profitability-reducing companies in Saint Petersburg we will continue well-focused investments in the development of City Service and enhancement of performance effectiveness in Russia. We will also continue actively participate in privatization processes transpiring in the apartment building administration market in Saint Petersburg”, - said Ž. Lapinskas. Currently, in Saint Petersburg, City Service controls 6 successfully operating companies, maintaining more than 7 mill. sq. m. of apartment building area. In Lithuania, the group provides its services to apartment buildings in Vilnius, Kaunas, Klaipėda, Panevėžys, Šiauliai, Alytus, Palanga, Pagėgiai and Šilutė. The company's services are also used by residents of apartment houses in Riga (Latvia). In Lithuania, the Group of companies holds 34 % of the commercial building maintenance market. City Service owns 30 companies operating in Lithuania, Latvia, Russia and the Ukraine. The total area of facilities managed by the Group constitutes almost 18 mill. sq. m. Shares of City Service are listed in the Main List of Vilnius Stock Exchange. -------------------------------------------------------------------------------- | | Sales (mln. | EBITDA (mln. | EBIT (mln. | Net profit | | | LTL) | LTL) | LTL) | (mln. LTL) | -------------------------------------------------------------------------------- | 2008 | 263.8 | 14.6 | 12.4 | 8.7 | -------------------------------------------------------------------------------- | 2009 first | 140.8 | 11.5 | 9.9 | 6.2 | | half | | | | | -------------------------------------------------------------------------------- | 2009 | 382 .0 | 25.3 | 20.6 | 13.5 | | forecast | | | | | -------------------------------------------------------------------------------- | Comparativ | 0.32 | 4.8 | 5.9 | 8.9 | | e | | | | | | Capitaliza | | | | | | tion | | | | | | Ratios* | | | | | -------------------------------------------------------------------------------- * City service AB market capitalization as of 31 August 2009 to forecasted for 2009 sales, EBITDA, EBIT and net profit in each column accordingly ENCLUDING: City Service Interim Consolidated Financial Statements for the six months of 2009 (in LTL) and City Service AB Interim Consolidated Report for the six months of 2009 (in LTL). Vilius Mackonis, Public relations manager +370 5 239 4900 |
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