Energy, Lithuania

International Internet Magazine. Baltic States news & analytics Friday, 06.06.2025, 18:37

RST group loss at 6.5 mln litas, VST at 56.6 mln litas in 2010

Petras Vaida, BC, Vilnius, 02.05.2011.Print version
Last year, the group of Rytu Skirstomiejie Tinklai (RST – eastern distribution network) reached audited revenues of 1.267 billion litas (0.361 billion euros), an increase by 7.6% year-on-year. The 2010 revenues of the VST (Vakaru Skirstomieji Tinklai – Western Distribution Network) stood at 1.161 billion litas (0.331 billion euros), a growth by 1.6% compared to the previous year.

In 2010, the RST group loss amounted to 6.5 million litas (1.85 million euros), compared to 25.9 million litas (7.38 million euros) in 2009. The VST suffered a loss of 56.6 million litas (16.14 million euros) in 2010, after a profit of 12.1 million litas (3.45 million euros) in 2009. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) fell: EBITDA of the RST totalled 225.5 million litas (64.34 million euros), a decrease by 22% year-on-year; EBITDA of the VST dropped by 43.4% to 187.9 million litas (53.61 million euros), informs LETA/ELTA,

 

"Last year, the price of electricity generation went more than double, but the final rate for consumers fell less, which led to the negative performance of both companies. The VST 2010 results were mainly influenced by smaller average tariffs for business customers than those of the RST," said Ramute Ribinskiene, financial service head of LESTO. AB LESTO is Lithuanian distribution network operator.

 

The company was established through reorganisation of the public limited liability distribution network companies Rytø Skirstomieji Tinklai (RST) and VST by means of merger.





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