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Thursday, 25.04.2024, 10:28
Klaipedos Nafta boosts Q1 net profit by 40%, revenue up 2%
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First-quarter sales revenue rose by 1.8% to 27.8 million euros.
Klaipedos Nafta CEO Mindaugas Jusius attributed the good financial results to growth in oil product loadings in the first quarter.
"Assessing in general, the quarter was well performing. But when assessing the achieved results, it is important to note that the load growth was affected by certain one-off factors," Jusius said in a press release. "For example, freight flow from our main client -- Orlen Lietuva AB -- was bigger than planned, as the planned renovation of the plant was postponed till April", he said.
Revenue from oil product loadings jumped by 25% year-on-year to 11 million euros, but the LNG terminal's revenue dropped by 10.3% to 16.6 million euros.
EBITDA rose by 19.5% to 10.4 million euros and the EBITDA margin was up by 5.3%age points to 37.2%.
The state owns 72.32% of shares in Klaipedos Nafta, which is quoted on the blue-chip Main List of the Nasdaq Vilnius stock exchange, and Achemos Grupe holds a 10.28% stake.
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