Kauno Energija: Activity results of 12 months of the year 2017

The Management Board of PLLC Kauno Energija (hereinafter - the Company) (code -
235014830) approved on 30 January 2018 a non-audited Set of Consolidated and
Company's Financial Statements of 12 months of the year 2017, prepared
according to International Financial Reporting Standards, as adopted by the
European Union. 

The result of Company's activities of 12 months of the year 2017 according to
International Accounting Standards is profit in amount of EUR 6,005 thousand
(12 months of the year 2016 is profit in amount of EUR 6,901 thousand),
turnover from sales is EUR 59,692 thousand (12 months of the year 2016 - EUR
61,188 thousand). The result of activities of the Group which as at 31 December
2017 consisted of PLLC Kauno Energija and of its subsidiaries - LLC Kauno
Energija NT (code - 303042623) and LLC Petrašiunu Katiline (code - 304217723)
is profit in amount of EUR 5,742 thousand (the result of 12 months of the year
2016 is profit in amount of EUR 6,957 thousand), turnover from sales is EUR
59,680 thousand (the result of 12 months of the year 2016 is EUR 61,178
thousand). 

EBITDA of the 12 months of the year 2017 is: Company's - EUR 14,312 thousand -
at 2.2 per cent less, than in the year 2016 (12 months of the year 2016 - EUR
14,631 thousand), Group's - EUR 14,705 thousand (12 months of the year 2016 -
EUR 14,787 thousand). 

Company's profit of 12 months of the year 2017 in comparison with the result of
the same period of the year 2016 decreased due to the EUR 1,594 thousand less
compensation, received from LLC Kauno Termofikacijos Elektrine under Peaceful
Agreement, concluded on 28 December 2015 by which a litigation in Arbitration
case regarding noncompliance of Investment Agreement of 30 June 2003 was
terminated. Company's profit increased by EUR 698 thousand in comparison with
the profit of the year 2016 if the impact of the received compensation would be
eliminated. 

Despite the amount of the heat sold increased by 1.2 per cent in comparison
with the year 2016, Company's turnover from sales decreased by 2.4 per cent due
to the 3.8 per cent decrease in the average price of heat. 

We hereby present the non-audited interim financial statements of 12 months of
the year 2017 together with Confirmation from responsible persons. 

         Loreta Miliauskiene, Head of the Economics and Planning Department,
tel. [phone]

Attachment:
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