LHV Institutional Baltic Insight, December 7th, 2021
* Klaipedos Nafta (KNF1L LH) recorded a decline in its total preliminary revenues to EUR 4.8m in November 2021 (-20% y-o-y). Cumulative eleven-month revenues (Jan-Nov 2021) declined by 24.9% y-o-y to EUR 53.4m. The revenues from oil terminals decreased by 17.4% y-o-y to EUR 1.9m in November 2021.* KNF’s November revenues from LNG terminal activities declined by 22.9% y-o-y to EUR 2.7m, leading to 11M revenues of EUR 32.0m (-19.4% y-o-y), due to lower regasification volumes and a proportionate reduction of the security supplement in 2021, based on the surplus of LNG return from the period 2014-2019, which was established for the regulated activities of the Group, and is equal to EUR 1.9m for the entire 2021 year (or c.a. EUR 0.16m per month).
* Please also refer to the tables in the attachment.
Klaipedos Nafta AB. Klaipedos Nafta AB is a Lithuania-based company involved in the export and import of oil products and crude oil. The Company's activities include transhipment of crude oil and oil products, unloads crude oil and oil products from tankers into railway cars, temporary storage of crude oil and oil products, determination of quality parameters of oil product, injects chemical additives into oil products, accepts oily water from ships, supply of fuel and water to ships and provides moors tankers. As of December 31, 2011, the Company's major shareholder was Lithuanian Ministry of Energy with a stake of 70.63%. On December 17, 2012, the Company registered its new subsidiary, LitGas, which specializes in the distribution of gas.
LHV Bank is an independent pan-Baltic bank, based on Estonian capital. The company was founded in 1999 by two founders of Hansapank (today’s Swedbank in the Baltics) and has been offering a full range of investment services for 15 years. In May 2009, LHV received a credit institution licence allowing it to provide all banking services.
The head office is situated in Tallinn, Estonia. Cross-border services are offered in Vilnius, Lithuania and in Riga, Latvia. LHV provides brokerage (institutional and retail), asset management, banking and capital markets services. Compared to other banks, we are more innovative and have more solid experience in investment and entrepreneurship.
The Bank, together with the Group asset management company employs over 320 people. LHV Group shares are listed on Nasdaq Tallinn.
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