Energy, Energy Market, Lithuania

International Internet Magazine. Baltic States news & analytics Tuesday, 11.02.2025, 08:58

Lithuanian provider of electricity Lietuvos Elektrine has considerable increase in profit in H1

Danuta Pavilenene, BC, Vilnius, 25.08.2009.Print version
Lithuanian electricity producing company Lietuvos Elektrine earned the pre-audited profit before taxes in amount of 22.25 million litas in the first half of this year, compared to 2.80 million litas of the profit in equivalent period of the previous year, Lietuvos Elektrine reported to NASDAQ OMX Vilnius, writes LETA.

Sales of the enterprise during the first six months of the year totaled 233.33 million litas, up on 159.15 million litas registered in the corresponding period of the previous year.

 

Net profit amounted to 18.24 million litas in January-June, 2009, while in the first six months of the previous year net profit of Lietuvos Elektrine amounted to 1.44 million litas.

 

As representatives of the company stated, during the first half-year, the plant's earnings were exceeded the planned sum. The profit was made on production and recalculating of reserve. The increase of profit was determined by the growth of production, optimization of the expenditures on activities and the considerably decreased prices of natural gas.

 

Financial statements of the Lietuvos Elektrine have been prepared in accordance with the International Financial Reporting Standards.





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