Business activity results of 9 months of the year 2019
The Board of AB Kauno Energija (hereinafter – the Company) (code – 235014830) assessed results of Company’s business activity of 9 months of the year 2019 and financial state as at 30 September 2019 and approved AB Kauno Energija consolidated and Company’s non-audited results of 9 months of the year 2019.
The main economic factors affecting the performance results are the growing prices of purchased heat from independent heat producers and 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 9 months of the year 2019 according to the International Financial Reporting Standards as adopted by the European Union is loss in amount of EUR 1,005 thousand (the result of 9 months of the year 2018 was profit amounted to EUR 1,862 thousand), turnover from sales is EUR 38,411 thousand (in 9 months of the year 2018 it was amounted to EUR 41,750 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 9 months of the year 2019 is loss in amount of EUR 866 thousand (the result of 9 months of the year 2018 was profit EUR 1,688 thousand), turnover from sales is amounted to EUR 38,405 thousand (turnover from sales of 9 months of the year 2018 is amounted to EUR 41,741 thousand).
The rate of critical liquidity as at the end of reporting period (30 September 2019) of the Company that makes comparison between short term assets without stocks and short term liabilities, decreased from 1.54 to 0.99 during the period from the end of the year 2018 (the rate of the Group decreased from 1.47 to 0.97). The EBITDA of the Company of the 9 month of the year 2019 is EUR 4,332 thousand (EBITDA of the 9 month of the year 2018 was EUR 7,347 thousand), and EBITDA of the Group is EUR 4,954 thousand (EBITDA of 9 month of the year 2018 was EUR 7,662 thousand).
We hereby present an Interim unaudited Financial Statements of the 9 month of the year 2019 together with confirmation of responsible persons.
Agnė Šermukšnienė, Project manager, tel. +370 37 305 602