Energy, Gas, Lithuania

During the reporting period, the Company earned EUR 13.4 million in profit before interest, taxes, depreciation and amortization (EBITDA), or 12% more than in January – June of 2014 when its EBITDA was EUR 12 million. This change was conditioned by better operating results determined by increased revenues and decreased costs.

Net profit of Lietuvos Dujos earned from natural gas distribution activity was 28% bigger compared to the same period last year and totalled EUR 7.7 million (net profit from natural gas distribution activity totalled EUR 6 million in H1 of 2014). Costs of the company decreased by 1% in H1 of 2015 and totalled EUR 21.8 million (compared to EUR 22 million in H1 of 2014).

According to Liudas Liutkevicius, CEO of Lietuvos Dujos, increasing confidence of customers in natural gas has contributed to positive operating results of the company, which allows assuming that the captured growth in the number of new gas customers creates a positive prospect for greater gas consumption in the future.

"We plan on building about one hundred kilometres of gas distribution pipeline and connecting more than 3,000 new customers this year. The number of those interested in the possibility of using natural gas for heating houses has increased. We have observed that builders of real estate objects constructing blocks of residential houses in suburbs of major cities have been choosing natural gas for the heating of houses more and more often. Also, the number of individual home owners connecting to the gas network has increased. Such a shift in consumer choice is likely to have been determined by an emerged possibility to choose the source of natural gas supply by themselves, and, of course, by a competitive price of gas," said Liutkevicius.