Energy, EU – Baltic States, Lithuania, Markets and Companies

The company's pretax earnings this year are forecast to decline by a factor of five to 591,000 euros, according to its 2015 annual report filed with the Center of Registers.

ABB Lithuania's sales revenue rose by 10.9% in 2015 from 2014 to 25.068 million euros and its net profit soared by 140% to 2.527 million euros. The company attributed the strong profit growth to the sale of a building in Saltoniskiu Street in Vilnius.

According a draft profit distribution plan made available in the report, the company's distributable profits stood at 9.591 million euros at the end of 2015, of which 2.527 million euros was proposed to be distributed as dividends, with the remaining 6.949 million to be carried forward into the next financial year.

ABB Lithuania is 100% owned by Swedish-registered ABB Norden Holding.