Elektrėnai, Lithuania, 2011-05-27 10:13 CEST (GLOBE NEWSWIRE) -- Financial statements are drawn up in accordance with the International Financial Reporting Standards.
Unaudited performance results of AB Lietuvos elektrinė for 2011 Q1:
- income – 95.3 mln. Litas (27.6 mln. euros), in 2010 Q1 – 224.4 mln. Litas (65 mln. euros);
- net profit – 8.1 mln. Litas (2.3 mln. euros), in 2010 Q1 – 0.3 mln. Litas (0.1 mln. euros) of loss
The decrease in the Company's income resulted from the decreased electricity production and decreased PIS (Public Interest Services) income due to the amendment of PIS description (PIS is paid only from the amount of electricity produced).
The Company’s net profit increased as in January this year PIS was received in accordance with the PIS description valid until February (i.e. from the approved eligible electricity production quota and not from the amount of electricity produced). The electricity production decreased due to the increased gas price.
The Company’s costs were also decreasing as the increased gas price resulted in the more expensive electricity production and the company’s production decreased as compared against the last year.
We additionally inform that the set of 2011 Q1 financial statements with confirmations of responsible persons is published on the company’s website in accordance with the procedure laid down by legal acts.
Appended:
Set of 2011 Q1 Financial Statements, Confirmation of Responsible Persons
Jūratė Kavaliauskaitė
Head of Communications, AB Lietuvos Energija
Tel. +370 619 62019
E-mail: jurate.kavaliauskaite@lpc.lt
