2010

 

In Half 1 of 2010, consolidated unaudited sales revenue of AB Lietuvos Dujos increased by 34% compared with a year-ago period and amounted to LTL 959.2 million* (in H 1 of 2009: LTL 714.0 million).

 

Consolidated unaudited pre-tax profit of AB Lietuvos Dujos of Half 1 of 2010 amounted to LTL 101.7 million (in H 1 of 2009: LTL 65.9 million), and net profit of the period amounted to LTL 86.7 million (in H 1 of 2009: LTL 53.4 million).

 

EBITDA of Half 1 of 2010 also increased accordingly. Compared with the respective period of 2009, EBITDA of Half 1 of 2010 increased by LTL 36 million and amounted to LTL 148.9 million.

 

“The exceptionally cold weather prevailing in the beginning of 2010 and the increase in gas demand for electrical power production, following the decommissioning of the Ignalina Nuclear Power Plant, determined that the Company’s gas transmission volume of Half 1 of 2010, compared with Half 1 of 2009, increased by almost one-fifth and the Company’s natural gas sales volume increased by almost one-half. This had a respective effect on the revenue and profit growth. However, the result of Quarter 2 of 2010, compared with the respective result of the previous year, was significantly worse (net profit of Quarter 2 of 2010 stands at LTL 15.1 million, whereas in the respective period of the previous year, it stood at LTL 24.1 million). In the activity of natural gas supply to the household customers, in Half 1 of 2010, the Company incurred a loss (the actual natural gas imports price was higher than the price assumed in the tariff for the household customers). The result of Half 1 of 2010 was favorably impacted by the lower profit tax rate, as compared with the respective rate of the previous year, and by the continuation of the implementation of the stringent cost-saving and efficiency-raising policy measures”, said AB Lietuvos Dujos deputy general manager – CFO Giedre Glinskiene commenting on the results for Half 1 of 2010.

 

“In Half 1 of 2010, the investments of AB Lietuvos Dujos amounted to LTL 83.2 million, whereas in Half 1 of 2009 they amounted to LTL 78.2 million. The lion’s share of the investment amount was allocated to the implementation of the National Energy Strategy project – the construction of a gas compressor station in Jauniunai, Sirvintos District (LTL 72.2 million)”, said deputy general manager – director of commerce Dr Joachim Hockertz.

 

In Half 1 of 2010, natural gas transmission volumes to customers of Lithuania amounted to 1,653.1 MCM, which represents a 19% rise in year-on-year terms. Transit volumes to the Kaliningrad Region of RF showed an increase and hit 714.5 MCM, which represents a 23% rise compared to a year ago. In Half 1 of 2010, the Company’s gas volume sales amounted to 892.1 MCM. In the household sector, the Company’s volume sales were 116.4 MCM (a 9% rise compared to Half 1 of 2009) whereas in the non-household sector the Company’s volume sales amounted to 775.7 MCM (a 54% rise compared to Half 1 of 2009).

 

The Company, as a natural gas supplier, has been selected by almost 100% of Lithuania’s household natural gas customers.

 

The number of the Company’s customers amounts to over 550 thousand. They are energy and industrial companies, other companies and organizations as well as households.

 

AB Lietuvos Dujos shares are listed on Main List of the stock exchange NASDAQ OMX Vilnius. The consolidated financial results cover the results of the Group comprising AB Lietuvos Dujos and its subsidiary UAB Palangos Perlas.

 

 

* LTL 3.45 = EUR 1