EBITDA and net profit In 2014, the Group‘s EBITDA amounted to EUR 216.9 million (LTL 748.8 million), i.e. a 10 % or EUR 19.8 million (LTL 68.3 million) increase compared to EBITDA for 2013, which was equal to EUR 197.1 million (LTL 680.6 million). EBITDA margin for the reporting period did not change significantly and was equal to 22.3 % (23.4 % in 2013). In 2014, the major portion of EBITDA (nearly 90 %) was earned from the activity of LESTO and Lietuvos Energijos Gamyba. The growth of the Group‘s EBITDA resulted from better profitability results of electricity production activity and a positive result of gas transmission and distribution activity.
The Group‘s net loss for 2014 amounted to EUR 280 million (LTL 966.6 million). In 2013, net profit earned by the Group amounted to EUR 40.8 million (LTL 140.8 million). In 2014, the Group‘s negative net result of operations was significantly affected by one-off negative impact of the revaluation of property, plant and equipment of LESTO, during which the value of property, plant and equipment of LESTO lower by EUR 618.4 million (LTL 2,135 million) was determined, on the Group‘s results.
Group‘s EBITDA sources in 2014
7%
4%
Group‘s EBITDA in 2013 and in 2014, in EUR million 30 % 250 200
197.1
+10 %
216.9 59 %
150 100 50 0
12 months of 2013
12 months of 2014
Lietuvos Dujos AB Lietuvos Energijos Gamyba, AB LESTO Other
2014 ANNUAL REPORT Analysis of the Group’s operational and financial results for 2014
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