Energy, Investments, Latvia

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 16:46

Latvenergo Group's audited profit reaches EUR 29.8 mln in 2014

BC, Riga, 16.04.2015.Print version
Latvenergo Group's revenue in 2014 reached EUR 1.01 billion, profit – EUR 29.8 million, reports LETA, according to the company's consolidated financial report for 2014.

LETA previously reported that in 2014, Latvenergo Group's profit decreased by 35.6%. Audited consolidated financial reports for 2014 do not differ much from unaudited reports Latvenergo released this past February.

 

Over the year, the Group contributed EUR 177.6 million to investments, while earnings before interest, taxes, depreciation, and amortization (EBITDA) reached EUR 236.8 million. EBITDA and revenue reduced by 5% and 8%, respectively, as compared with the previous year. The negative impact on the results was mainly determined by the uncommonly low water inflow in the Daugava River.

 

In 2014, Latvenergo Group successfully retained its leadership in the electricity supply in the Baltics – the market share of the Group was 35% of the total electricity market of the Baltic countries. The total amount of electricity sold to retail customers in the Baltic countries was 8,688 GWh, which is 9% more than in 2013.






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