Interim results for the year 2020
AB „K2 LT“ unaudited revenue for 2020 reached €2.04 million, an increase of 43% compared to 2019. The company achieved EBITDA of €1.29 million and, compared to 2019 (€0.7million) was 84% higher, while the net profit amounted to €0.95 million.
„Lietuvos krematoriumas“ controlled by AB „K2 LT“ has conducted 7,365 cremations during 2020, which is 50% more compared to 2019 (4,902 cremations) and almost double the cremation amount in 2018 (3,804 cremations).
Out of 7,365 cremations during the year of 2020, 571 are directly related to COVID-19 – the person was infected with the virus at the time of the death or the infection was suspected, even though, no COVID-19 test was done.
It is expected that the popularity of cremation service will grow in 2021, however the overall death rate is expected to decrease. Therefore the company sees cremation rates to remain over 7,000 and revenue above €2 million in 2021 - relatively similar to 2020 level.