The company's revenues from the continuing operations of natural gas distribution over the nine months of 2014 have increased by 6 percent compared to the same period last year and amount to LTL 125.8 million (EUR 36.4 million) (the revenues received over the nine months of 2013 amounted to LTL 118.4 million or EUR 34.3 million accordingly). This growth was determined by the increased prices for distribution services which were established when the new price regulation period started (2014-2018).
In the January-September 2014 period, the company's distribution activity expenses increased and amounted to LTL 312.7 million (EUR 90.6 million) (the amount of the expenses in the same period last year was LTL 120.3 million or EUR 34.8 million). The increase was determined by the one-time impairment of property, plant and equipment used in the distribution activities amounting to LTL 196 million (EUR 56.8 million) which was formed on 30 June 2014. The costs of natural gas of distribution activity decreased due to the reduced price of imported natural gas, after the company retrospectively applied the corrected formula used to calculate the price of imported gas.
Net loss of Lietuvos Dujos AB of nine months of 2014 from the continuing gas distribution operations and the discontinued gas supply operations amounted to LTL 110.2 million in total (EUR 31.9 million). Net profit of the same period last year amounted to LTL 42.3 million (EUR 12.3 million). In the January-September period, loss from the distribution activities amounted to LTL 157.4 million (EUR 45.6 million) which was determined by the aforementioned one-time impairment of property, plant and equipment. Net profit of the previous year received from distribution activities amounted to LTL 1.6 million (EUR 0.46 million). Net profit of nine months of 2014 from distribution activities would amount to LTL 9.2 million (EUR 2.7 million), impairment of property, plant and equipment excluded.
EBITDA of nine months of 2014 of distribution activities amounted to LTL 37.6 million (EUR 10.9 million). In the calculations of EBITDA the impact of impairment of property, plant and equipment is excluded. EBITDA of the same period last year amounted to LTL 27.8 million (EUR 8.1 million).
