Activity results of 12 months of the year 2019

The Management Board of PLLC Kauno Energija (hereinafter – the Company) (code – 235014830) approved on January 30, 2020 a non-audited Set of Consolidated and Company’s Financial Statements of 12 months of the year 2019, prepared according to International Financial Reporting Standards, as adopted by the European Union.

The result of Company’s activities of 12 months of the year 2019 according to International Accounting Standards is profit in amount of EUR 278 thousand (profit of 12 months of the year 2018 is EUR 4,414 thousand), turnover from sales is EUR 54,659 thousand (turnover of 12 months of the year 2018 is EUR 61,328 thousand). The result of activities of the Group which as at December 31, 2019 consisted of PLLC Kauno Energija and of its subsidiaries – LLC Kauno Energija NT (code – 303042623) and LLC Petrašiūnų Katilinė (code – 304217723) is profit in amount of EUR 507 thousand (the result of 12 months of the year 2018 is profit in amount of EUR 3,963 thousand), turnover from sales is EUR 54,650 thousand (the result of 12 months of the year 2018 is EUR 61,316 thousand).

EBITDA of 12 months of the year 2019 is as follows: Company’s – EUR 7,600 thousand – it is at 37.8 per cent less, than in the year 2018 (in 12 months of the year 2018 it was EUR 12,227 thousand), Group’s – EUR 8,471 thousand – it is at 31.8 per cent less, than in the year 2018 (in 12 months of the year 2018 it was EUR 12,417 thousand).

Company’s profit of 12 months of the year 2019 decreased in comparison with the result of the same period of the year 2018 due to the new base heat price constituents, which became valid from December 1, 2018 and due to the applied additional heat price constituent decreasing heat price by 0.29 ct/kWh (excl. VAT), which emerged due to the Company’s additional income, earned on the difference between prices of fuel purchase and consumption, actual and included in the price of heat, and between prices of purchase of heat. A sum in amount of EUR 3323.3 refunded to consumers during the year 2019.

Company’s turnover from sales decreased by 10.9 per cent due to the 3.3 per cent decrease in the average heat selling price and due to the 5.3 per cent less amount of heat sold in comparison with the year 2018.

We hereby present the non-audited interim financial statements of 12 months of the year 2019 together with Confirmation from responsible persons.

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

Attachment