Good for Business, Lithuania, Oil, Port

Revenue for the six months edged up by 0.8% y-o-y to 52.739 mln euros, the company, which is quoted on the blue-chip Main List of the Nasdaq Vilnius stock exchange said in its first-half performance report.

EBITDA rose by 13.3% to 17.229 mln euros and the EBITDA margin was up by 3.6 percentage points to 32.7%.

Oil product loadings at the Klaipeda and Subacius oil terminals increased by 10.2% to 3.59 mln tons. The oil terminals' net profits surged by 46% to 7.5 mln euros as revenue went up by 15.2% to 20 mln euros. 

Klaipedos Nafta said the growth in loadings was mainly due to an increased flow of oil products from Belarus and an increased cargo turnover at its tank truck loading station. 

First-half LNG regasification and reloading volumes dropped by 7.2% to 4.5 mln megawatt-hours (MWh) of gas. The LNG terminals' revenue declined by 7.2% to 32.46 mln euros, but net profits were up by 6.5% to 3.3 mln euros. 

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 10.29% stake.