Activity results of the 1 quarter of the year 2020

The Management Board of PLLC Kauno Energija (hereinafter – the Company) (code – 235014830) assessed the results of Company’s business activity of the 1 quarter of the year 2020 and financial state as at March 31, 2020 and approved PLLC Kauno Energija consolidated and Company’s non-audited results of the 1 quarter of the year 2020.

The result of Company’s business activities of the 1 quarter of the year 2020 according to the International Financial Reporting Standards is profit (before taxes) in amount of EUR 1,901 thousand (the profit of the 1 quarter of the year 2019 was EUR 4,631 thousand), turnover from sales is EUR 20,214 thousand (in the 1 quarter of the year 2019 it was EUR 28,372 thousand). The profit of the Group which consists of PLLC Kauno Energija and its’ subsidiaries LLC Kauno Energija NT (code – 303042623) and LLC Petrašiūnų katilinė (code – 304217723), amounts to EUR 2,228 thousand (before taxes) (the profit of the 1 quarter of the year 2019 amounts to EUR 5,086 thousand), turnover from sales amounts to EUR 20,210 thousand (turnover from sales of the 1 quarter of the year 2019 amounted to EUR 28,366 thousand).

The rate of critical liquidity of the Company that makes comparison between short term assets without stocks and short term liabilities as at the end of reporting period (March 31, 2020), increased from 0.95 to 1.29 during the period from the end of 2019 (the rate of the Group increased from 0.92 to 1.28). The EBITDA of the Company of the 1 quarter of the year 2020 is EUR 3,758 thousand (EBITDA of the 1 quarter of the year 2019 was EUR 6,423 thousand), and EBITDA of the Group is EUR 4,239 thousand (EBITDA of the 1 quarter of the year 2019 was EUR 7,032 thousand).

Company’s turnover from sales of the 1 quarter of the year 2020 decreased by 28.8 per cent in comparison with the same period of the year 2019 due to the 11.7 per cent less amount of heat sold and due to 18.6 per cent decreased average heat selling price.

We hereby present an Interim Non-Audited Financial Statements of the 1 quarter of the year 2020 together with confirmation of responsible persons.

Loreta Miliauskienė, Senior Economist of Technology and Economic Analysis Department, tel.  855

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