The Board of AB Kauno Energija (hereinafter – the Company) (code – 235014830) assessed results of Company’s business activity of the 1 half of the year 2018 and financial state as at 30 June 2018 and approved AB Kauno Energija consolidated and Company’s non-audited results of the 1 half of the year 2018.

The main economic factors affecting the performance results are the growing prices of purchased biofuels and purchased heat from independent heat producers and also the start of application of additional heat price constituent, determined by the Management Board, which reduces the heat price for consumers and which emerged due to additional income received by the Company after reaching more effective performance indicators than those, determined in Company's base heat price.

The result of Company’s activities of the 1 half of the year 2018 according to the International Financial Reporting Standards is profit in amount of EUR 5,537 thousand (result of the 1 half of the year 2017 was amounted to EUR 6,177 thousand), turnover from sales is EUR 38,222 thousand (in the 1 half of the year 2017 it was amounted to EUR 35,321 thousand). The result of activities of the Group which consists of AB Kauno Energija and its’ subsidiaries UAB Kauno Energija NT (code – 303042623) and UAB Petrašiūnų Katilinė (code 304217723) of the 1 half of the year 2018 is profit in amount of EUR 5,514 thousand (the result of the 1 half of the year 2017 – EUR 6,160 thousand), turnover from sales is amounted to EUR 38,214 thousand (turnover from sales of the 1 half of the year 2017 is amounted to EUR 35,313 thousand).

As at the end of reporting period (30 June 2018) the rate of critical liquidity of the Company that makes comparison between short term assets without stocks and short term liabilities, increased from 1.38 to 2.67 during the period from the end of the year 2017 (the rate of the Group increased from 1.13 to 1.94). The EBITDA of the Company of the 1 half of the year 2018 is EUR 9,203 thousand (EBITDA of the 1 half of the year 2017 was EUR 9,723 thousand), and EBITDA of the Group is EUR 9,507 thousand (EBITDA of the 1 half of the year 2017 was EUR 10,089 thousand).

We hereby present an Interim unaudited Financial Statements of the 1 half of the year 2018 together with confirmation of responsible persons.

Loreta Miliauskienė, Head of the Economics Department, tel. +370 37 305 855

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