Energy, Gas, Latvia
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Thursday, 03.04.2025, 14:18
Itera Latvija turnover reduces, profit increases in 2013
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Itera Latvija turnover was EUR 164,456,750 in 2013, while in 2012, the company's turnover amounted to EUR 193,761,410.
The company's profit has grown from EUR 12,077,099 in 2012 to EUR 13,006,015 in 2013.
Itera Latvija management report indicates that in 2013, the company's main activity was natural gas supplies to Latvia.
In order to pay for natural gas supplies, the company took out several short-term loans from the leading banks in Latvia last year.
Itera Latvija delivers gas to Latvia in accordance with long-term contracts, while transactions are performed using euros, which significantly reduces the currency risk in regard to the company's obligations to Latvian banks.
In 2012, the company remained to be one of the shareholders of Latvijas Gaze, owning 16% of shares and represented by two members of Latvijas Gaze board.
Itera Latvija was founded in 1996. Its share capital is EUR 16,259,156. The company's shares belong to Denmark-registered Inter Energia Holding ApS (34%) and Cyprus-registered Davonte Holding Limited (66%).
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