Business activity results of the 1 half of the year 2020
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 2020 and financial state as at 30 June 2020 and approved AB Kauno Energija consolidated and Company’s non-audited results of the 1 half of the year 2020.
The main economic factors affecting the performance results are the growing prices of 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 2020 according to the International Financial Reporting Standards is profit in amount of EUR 77 thousand (result of the 1 half of the year 2019 was amounted to EUR 2,335 thousand), turnover from sales is EUR 25,251 thousand (in the 1 half of the year 2019 it was amounted to EUR 34,443 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 2020 is profit in amount of EUR 198 thousand (the result of the 1 half of the year 2019 – EUR 2,600 thousand), turnover from sales is amounted to EUR 25,247 thousand (turnover from sales of the 1 half of the year 2019 is amounted to EUR 34,437 thousand).
The rate of critical liquidity as at the end of reporting period (30 June 2020) of the Company that makes comparison between short term assets without stocks and short term liabilities, decreased from 0.95 to 0.77 during the period from the end of the year 2019 (the rate of the Group decreased from 0.92 to 0.76). The EBITDA of the Company of the 1 half of the year 2020 is EUR 3,776 thousand (EBITDA of the 1 half of the year 2019 was EUR 5,907 thousand), and EBITDA of the Group is EUR 4,323 thousand (EBITDA of the 1 half of the year 2019 was EUR 4,683 thousand).
We hereby present an Interim unaudited Financial Statements of the 1 half of the year 2020 together with confirmation of responsible persons.
Agnė Šermukšnienė, Project manager Project Management Department, tel. +370 37 305 602