Published: 2015-11-16 15:00:01 CET
LESTO
Notification on material event

Preliminary unaudited LESTO results for nine months of 2015: EBITDA reached EUR 99.2 million, EBITDA margin increased to 23 %

LESTO AB (hereinafter - LESTO, Company), identification code 302577612, registered office placed at Aguonų str. 26, Vilnius, Republic of Lithuania. The total number of registered ordinary shares issued by company is 603 944 593; ISIN code LT0000128449.  

During the nine months of 2015 the net profit of LESTO, electricity distribution company, based on preliminary unaudited financial statements of the Company, amounted to EUR 59.153 million – 2.9 times more compared to the same period of 2014 when it was equal to EUR 20.356 million.

The increase of net profit was resulted by significantly lower depreciation and amortization expenses of the tangible fixed assets. They are calculated on the basis of a new assessment of the Company’s tangible assets of the beginning of the year.

In January-September 2015 the company’s EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) amounted to EUR 99.212 million – 3.7 % less compared to the same period of 2014, when EBITDA was equal to EUR 102.973 million. EBITDA margin increased by 1.54 per cent points and amounted to 23.05 %.

LESTO revenue during the nine months of 2015 amounted to EUR 430.511 million and, compared to the same period of 2014, declined by 10.1 %. The revenue decreased as a result of lower electricity tariffs from the beginning of the 1st of January 2015.

"Our applied efficiency measures aimed to reduce operating costs and improve the quality of services, allowed us to increase the EBITDA margin indicator. During the third quarter we have finished large-scale investment projects which eventually will help to reduce our network maintenance and repair costs, and ensure reliable electricity supply and distribution of our clients”, - says Aidas Ignatavičius, CEO of LESTO.

AB LESTO group interim report for the nine months of 2015 is due to be published on 27 November, 2015.

         Representative for Public Relations Martynas Burba, Tel. No (8~5) 251 4516.