OREANDA-NEWS. Preliminary ESO results for three months of 2016: revenue up by 3% to EUR 182 million. 

"Energijos Skirstymo Operatorius" AB, identification code 304151376, registered office placed at Aguonu str. 24, Vilnius, Republic of Lithuania. The total number of registered ordinary shares issued by company is 894 630 333; ISIN code LT0000130023.

Electricity and natural gas distribution company “Energijos Skirstymo Operatorius” AB (hereinafter - ESO), which started it operations since January 1, 2016 after a reorganization merging LESTO AB (hereinafter - LESTO) and joint-stock company “Lietuvos Dujos” (hereinafter – “Lietuvos Dujos”), during the first quarter of 2016, based on preliminary unaudited financial statements, earned EUR 30.798 million net profit.

Compared with first quarter of 2015 LESTO and „Lietuvos Dujos“ consolidated net profit, which amounted to EUR 35.859 million, this is 14 % less. ESO net profit declined due to 14 percent decline in 2016 regulated services determined electricity purchase prices compared to 2015.

In January-March 2016 ESO EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) amounted to EUR 48.865 million – 7.8 % less compared to the same period of 2015, when LESTO and „Lietuvos Dujos“ consolidated EBITDA was equal to EUR 52.971million.

ESO revenue during January-March of 2016 amounted to EUR 182.451 million and, compared to the same period of 2015, increased by 3.3 %, when LESTO and „Lietuvos Dujos“ consolidated revenue was EUR 176.541 million. Revenue increased due to higher electricity and natural gas distribution volumes.

"Successful merger of LESTO and “Lietuvos Dujos” to ESO has opened up new opportunities for the company and customers. During the first three months of operation, we improved our service quality and reliability indicators, mapped out strategic directions for further improvement and development. Due to colder weather we distributed more electricity and gas; as a result our revenue increased by 3 percent. We hope that gas consumption volumes will continue to grow gradually, because we already noticing a rapid interest among residents and business due to cheaper natural gas, "- commenting on the 2016 first quarter preliminary results ESO said Chairman of the Board and CEO Liudas Liutkevicius.

ESO interim report for the three months of 2016 is due to be published on 31 May.