LHV Institutional Baltic Insight, June 7th, 2021
* Klaipedos Nafta (KNF1L LH) recorded a significant decline in its total preliminary revenues to EUR 5.2m in May 2021 (-25.7% y-o-y). The revenues from oil terminals declined by 41.9% y-o-y to EUR 1.8m; however, it doubled compared to April 2021 revenues. The oil terminals segment’s revenues were sharply lower in April 2021 due to a loss of transhipment volumes from Belarus, a negative impact of the ongoing restrictions in European countries due to the COVID-19 pandemic, and planned repair works in the Mažeikiai refinery.* KNF’s revenues from LNG terminal activities declined by 13.5% y-o-y to EUR 3.2m, due to lower regasification volumes and a proportionate reduction of the security supplement in 2021. Preliminary revenues generated from commercial LNG activities stood at EUR 0.2m (flat y-o-y). Commercial LNG revenues comprise mostly of revenues from the small-scale LNG reloading station in Klaipeda and other consultancy fees.
* 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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