AB KN Energies (hereinafter - KN, the Company) announces the unaudited consolidated (hereinafter - the Group) and separate financial results for the nine months ended 30 September 2024.
Key financial indicators for the 1- 9 months of 2024:
| EUR millions | Group | Company | ||
| 1- 9 months of 2024 | 1- 9 months of 2023 | 1- 9 months of 2024 | 1- 9 months of 2023 | |
| Revenue | 68.0 | 63.6 | 65.0 | 61.1 |
| EBITDA | 36.9 | 28.0 | 35.3 | 27.0 |
| Net profit (loss) | 11.9 | 5.5 | 10.7 | 4.8 |
| Adjusted net profit (loss) | 12.4 | 6.2 | 11.2 | 5.5 |
Management comment:
Revenue from liquid energy terminals for 1-9 months of 2024 amounts to EUR 21.1 million and remained nearly the same compared to the same period in 2023 (EUR 21.12 million). The stability in revenue was ensured by higher income from tank rentals and liquid energy product storage services, which offset a roughly 10% decrease in handling volumes.
The regulated LNG segment's revenue for 1-9 months of 2024 are higher by EUR 1.1 million compared to the same period in 2023 and amounts EUR 38.4 million. The main reason for this increase was increased regasification tariff from 1.41 EUR/MWh to 1.83 EUR/MWh set by the NERC.
Revenue from commercial LNG activities for the 1-9 months of 2024 amounts to EUR 8.5 million compared to the same period in 2023 (EUR 5.2 million). New projects secured abroad, operations in Brazil and the development of the Klaipeda LNG value chain led to an increase in the segment's revenues.
Enclosed:
- Consolidated and Separate Financial Statements of AB KN Energies for 9 months period ended 30 September 2024.
Tomas Tumenas, Chief Financial Officer, +370 46 391772
