The Board of AB Kauno Energija (hereinafter – the Company) (code – 235014830) assessed results of Company’s business activity of 9 months of the year 2016 and financial state as at 30 September 2016 and approved AB Kauno Energija consolidated and Company’s non-audited results of 9 months of the year 2016.
The result of Company’s activities of 9 months of the year 2016 according to the International Financial Reporting Standards is profit (before taxes) in amount of EUR 3,584 thousand (result of 9 months of the year 2015 was amounted to EUR 2,280 thousand), turnover from sales is EUR 39,889 thousand (in 9 months of the year 2015 it was amounted to EUR 41,856 thousand). The result of activities of the Group which consists of AB Kauno Energija and its’ subsidiary UAB Kauno Energija NT (code – 303042623) of 9 months of the year 2016 is profit (before taxes) in amount of EUR 3,752 thousand (the result of 9 months of the year 2015 – EUR 2,269 thousand), turnover from sales is amounted to EUR 39,884 thousand (turnover from sales of 9 months of the year 2015 is amounted to EUR 41,851 thousand).
As at the end of reporting period (30 September 2016) the rate of critical liquidity of the Company that makes comparison between short term assets without stocks and short term liabilities, increased from 1.08 to 1.49 during the period from the end of 2015 (the rate of the Group increased from 1.07 to 2.39). The EBITDA of the Company of 9 months of the year 2016 is EUR 8,830 thousand (EBITDA of 9 months of the year 2015 was EUR 7,415 thousand), and EBITDA of the Group is EUR 8,980 thousand (EBITDA of 9 months of the year 2015 was EUR 7,417 thousand.
The main Company’s revenue and profit is generated in 1 and 4 quarters of the year. Company’s profit of 9 months of the year 2016 is being increased by the compensation in amount of EUR 1.8 million received from UAB Kauno Termofikacijos Elektrinė according to the peaceful agreement that has been signed on 28 December 2015 by which litigation in Arbitration case regarding noncompliance of Investment Agreement of 30 June 2003 was terminated.
Company’s turnover from sales of 9 months of the year 2016 in comparison with the turnover from sales of the same period of the year 2015 is at 4.70 per cent lower due to the decrease in average heat price at 8.27 per cent (in January – September of the year 2016 it was 5.21 ct/kWh and in January – September of the year 2015 it was 5.68 ct/kWh).
We hereby present an Interim unaudited Financial Statements of 9 months of the year 2016 together with confirmation of responsible persons.
