Energy, Lithuania

The company's preliminary unaudited earnings before interest, taxes, depreciation and amortization (EBITDA) in January-March 2015 was EUR 18.41 million and has increased by 14.5% in comparison to January-March 2014 (EUR 16.08 million).

The company's preliminary unaudited net profit in January-March 2015 has increased more than one and a half times and was EUR 14.82 million or 59.5% bigger than in January-March 2014 (EUR 9.29 million).

According to Egle Ciuzaite, director of the company's Finance and Administration Department, in the first quarter of 2015 the company's operations were stable, its operating efficiency was increasing, and its market operations were successful.

The decrease in the revenues of the company resulted from the fact that trading in power derivatives (mainly contracts for price difference) rather than trading in physical electricity has had an increasing share of the company's electricity trading portfolio. The revenues were also negatively affected by a nearly 15% decrease in the electricity generation volume (compared with the period of January-March 2014) at the Kaunas Algirdas Brazauskas' Hydroelectric Power Plant.