Lietuvos Dujos - Notification on material event

Preliminary pre-audited financial indicators of Lietuvos Dujos for 9 months of 2015: net profit grew by 73 percent and EBITDA increased by one forth

Vilnius, Lithuania, 2015-11-16 15:00 CET (GLOBE NEWSWIRE) -- Net profit of the
Lithuanian natural gas distribution system operator Lietuvos Dujos generated
from gas distribution activities during 9 months of 2015 was 73 percent greater
compared to the same period of last year and totalled EUR 6 million. In January
- September of last year, net profit from the natural gas distribution activity
amounted to EUR 3.5 million. Having added up the results of the continued gas
distribution activity and terminated gas supply operations, net profit of the
company in January - September of 2014 totalled EUR 85.5 million, including
profit from discontinued natural gas supply activities of EUR 82.1 million. 


During 9 months of 2015, Lietuvos Dujos earned EUR 13.4 in profit before
interest, taxes, depreciation and amortization (EBITDA), which is 25 percent
more than in January - September of 2014 when its EBITDA was EUR 10.7 million.
This change was conditioned by better operating results determined by increased
revenues and decreased costs. 


The Company's sales revenues of 9 months of 2015 increased by 4 percent
compared to last year and amounted to EUR 36.8 million (in 2014: EUR 35.5
million), and costs of the Company decreased by 5 percent compared to the same
period of last year totalling EUR 31 million (in January - September of 2014
they were EUR 32.6 million, respectively). The total level of costs decreased
due to the reduction of repair and maintenance costs, salary expenses and other
costs. 


“The transformation having occurred in Lietuvos Dujos this year is obvious -
the achieved financial results reflect the readiness of the organization to
move to a new level of existence, to merge with the electricity distribution
company and to continue successful ensurance of quality natural gas
distribution operations. Decisions made by the company on the change of
accounting policy and consistently implemented efficiency measures have
impacted the reduction of costs and respectively contributed to improving
financial results” - said Liudas Liutkevičius, Chairman of the Board and CEO of
Lietuvos Dujos. 


In the implementation of provisions of the EU Third Energy Package for the
unbundling of natural gas sector activities, assets, rights and obligations of
the natural gas supply activity were sold to UAB Lietuvos Duju Tiekimas as at
31 October 2014 under the contract on the purchase - sale of a part of
enterprise of AB Lietuvos Dujos of 15 October 2014. For comparison purposes,
data of the continued natural gas distribution activity for nine months of 2014
are presented above. Moreover, the comparative data of 9 months of 2014 were
restated evaluating the impairment of fixed assets recorded in retrospect as at
31 December 2013. 



         Head of communications Laura Šebekienė, tel. +370 633 99940