The unaudited results for the year 2009 of Limarko laivininkystės kompanija AB
(LLK) were prepared in accordance with International Financial Reporting
Standards.
The revenue of LLK for the year 2009 amounted to LTL 130.0 million (EUR 37.6
million) and decreased by 14% when compared to the revenue of LTL 151.4 million
(EUR 43.8 million) for the year 2008.
During the twelve months of 2009 LLK achieved the EBITDA of LTL 18.5 million
(EUR 5.4 million) and the EBITDA margin was 14%. In 2008, the EBITDA was LTL
27.1 million (EUR 7.9 million) and the EBITDA margin was 18%.
The losses of LLK in 2009 amounted to LTL 12.4 million (EUR 3.6 million). The
losses of LLK for January - December of 2008 were LTL 13.0 million (EUR 3.8
million).
The results of LLK were mainly influenced by the decrease in freight revenue
because of the world's economic slowdown and increasing bunker prices. However,
even though 2009 was not a favorable year in shipping, the Company generated
positive cash flow.
Vytautas Lygnugaris
Chief Executive Officer
Tel.: +370 46 340001-713
