Lietuvos Energija AB Group Announced Nine-Month Financial Results
OREANDA-NEWS On 23 October was announced, that based on preliminary data, net income of Lietuvos Energija AB Group for a nine-month period of 2008 totalled LTL 69.1m. In the Q3 2008, the Group earned LTL 508.7m in income and LTL 7.9m in net profit.
“The drop in the Q3 net profit was caused by seasonality – lower electricity demand in summer along with the maintenance of Ignalina Nuclear Power Plant”, says Rimantas Sukys, Member of Lietuvos Energija AB Board, Director of Finance and ITT Department.
During a nine-month period of this year, acting as the transmission system operator, the company through its high-voltage grid transmitted 7.5 billion kWh of electricity for domestic needs. A seven-percent increase in the electricity transmission volumes, as compared to the respective period of 2007, can be accounted for by higher electricity demand at Mazeikiu Nafta AB. During the reported period, Lietuvos Energija AB sales abroad stood at 1.7 billion kWh.