Operational results for the first half of 2013 T

The unaudited results for the first half of 2013 of Limarko laivininkystes kompanija AB (LLK) were prepared in accordance with the International Financial Reporting Standards.

The revenue of LLK for the first six months of 2013 amounted to LTL 23.9 million (EUR 6.9 million) and decreased by 20% when compared to the revenue of LTL 29.9 million (EUR 8.7 million) during the first six months of 2012.

EBITDA for the first half of 2013 was LTL 8.9 million (EUR 2.6 million). EBITDA for the first six months of 2012 was LTL 8.7 million (EUR 2.5 million).

The profit of LLK for the first six months of 2013 was LTL 1.0 million (EUR 0.3 million). The loss of LLK for the first six months of 2012 was LTL 21.8 million (EUR 6.3 million).

At the beginning of the year the freight level in reefer cargo market was higher when compared to 2012. However, the freight rates decreased in mid-May due to seasonality in the market, which results in lower freight rates during summer-autumn season. It is forecasted that the off-seasonal correction will be deeper this year due to declining banana trade (due to political and weather conditions in Latin America, which is world’s largest banana supplier), as well as continuing sharp competition with container lines.

Dry-docking of two vessels is planned for the third quarter of 2013.

         Mindaugas Petrauskas          Executive Director          Tel. +370 (46) 340001 ext. 713