Energy, Lithuania
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Friday, 29.03.2024, 07:44
Lithuanian LESTO posts EUR 27.6 mln net profit in Q1
This was resulted due to significantly lower depreciation and amortisation expenses. They are calculated on the basis of a new assessment of the company's tangible assets.
During the first quarter of 2015 the company's EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) amounted to EUR 40.996 million, while in the same period of 2014 was equal to EUR 39.725 million. EBITDA margin increased by 3.45%age points and amounted to 26.31%.
"Consistent operational efficiency continued to improve our results. Increased EBITDA margin demonstrates better efficiency. In the first quarter we introduced 10-year investment plan – scheduled investments in a reliable, safe and modern network will contribute in further growth of efficiency in our activities. Moreover, in the beginning of the year we offered customers more convenient service – now in seven major cities electricity and gas consumers are being served in one place," says Aidas Ignatavicius, CEO of LESTO.
LESTO revenue in the first quarter of 2015 amounted to EUR 155.804 million and, compared with the same period of 2014, declined by 10.32%.