OREANDA-NEWS. November 02, 2015.  Management Board of AB Kauno Energija (hereinafter – the Company) (code – 235014830) approved on 29 October, 2015 a non-audited set of consolidated and Company’s financial statements of the 9 months of the year 2015, prepared according to international financial reporting standards, as adopted by the European Union.

The result of Company’s activities of the 9 months of the year 2015 according to International accounting standards is profit (before taxes) in amount of EUR 2,280 thousand (9 months of the year 2014 is loss in amount of EUR 1,426 thousand), turnover from sales is EUR 41,856 thousand (9 months of the year 2014 – EUR 50,711 thousand). The result of activities of the Group which as at 30 September, 2015 consists of AB Kauno Energija and of its subsidiary – UAB Kauno Energija NT (code – 303042623) is profit (before taxes) in amount of EUR 2,269 thousand (9 months of the year 2014 is loss in amount of EUR 1,417 thousand), turnover from sales is EUR 41,851 thousand (9 months of the year 2014 – EUR 50,706 thousand). Up to 7 September, 2015 the subsidiary UAB Pastat? Prie?i?ros Paslaugos (code – 300580563) was a part of the Group and it was removed from the Register of Legal Entities on 7 September, 2015.

EBITDA of the 9 months of the year 2015 is: Company’s – EUR 7,415 thousand (9 months of the year 2014 – EUR 3,082 thousand), Group’s – EUR 7,417 thousand, (9 months of the year 2014 – EUR 3,105 thousand).

In the year 2015 the Company continues to implement current and plans to implement new investment projects in order to reduce heat production and acquisition expenditures, to assure reliable heat supplies, to decrease supply losses, and to increase effectiveness of the system of heat supplies. Therefore Company’s profit before taxes of 9 months of the year 2015 in comparison with the result of the same period of the year 2014 increased, notwithstanding Company’s turnover from sales of 9 months of the year 2015 in comparison with turnover of the same period of the year 2014 is lower at 17.5 per cent.

We hereby present non-audited interim financial statements of 9 months of the year 2015 along with Confirmation from responsible persons.