Energy, Lithuania

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 07:44

Lithuanian LESTO posts EUR 27.6 mln net profit in Q1

BC, Vilnius, 18.05.2015.Print version
During the first quarter of 2015 the net profit of LESTO, based on preliminary unaudited financial statements of the company, amounted to EUR 27.619 million – 2.3 times more compared to the same period of 2014 when it was equal to EUR 11.782 million, the company reported LETA/ELTA.

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%.






Search site