LHV Institutional Baltic Insight, December 8th, 2020
* Klaipedos Nafta (‘KNF’ or the ‘Group’) recorded a significant decline in its revenues, on a y-o-y basis; however, on a m-o-m basis, the Group recorded decent growth in its revenues. In total, KNF’s preliminary revenues amounted to EUR 6.1m in November 2020 (-31.5% y-o-y and +3.4% m-o-m).* Total preliminary revenues for 11M 2020 amounted to EUR 71.2m, down 24.9% y-o-y. Please also refer to the table in the attachment.
* Considering KNF’s expanding range of services, the potential for growing crude oil transit volumes, long-term contracts with partners, and plans to further explore opportunities for LNG services abroad, we maintain our positive stance towards the Group’s longer-term prospects.
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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