Shareholders approved AB Amber Grid operating results and distributed the earnings

In 2016, income of the Company amounted to EUR 66.7 million featuring a 19.6% increase compared to 2015. Income from natural gas transmission accounted for 89.7% of the total income.

The 2016 earnings before taxes reached EUR 24.3 million, compared to EUR 14.7 million in 2015. The EBITDA amounted to EUR 40.7 million featuring a 35.4% increase compared to 2015 (EUR 30.1 million). During the last year, the Company earned EUR 20.9 million of unaudited net profit, which is a 31% increase compared to EUR 16 million earned in 2015.

The General Meeting of Shareholders passed a resolution to appropriate dividends and decision of the Board was approved to pay out to shareholders  EUR 0.1173 per share. The dividend paid out for the year 2015 amounted to EUR 12.8 million or EUR 0.0716 per share. Dividend record date is May 10, 2017.

'We are happy about the strategy of the company that is implemented succesfully and the financial results achieved. This will guarantee our consumers services of the highest quality standards and let the prices to be reduced‘, Saulius Bilys, CEO of Amber Grid, noted.

In 2016, total 23.3 TWh of natural gas was transported to the Lithuanian consumers into the gas distribution systems or directly connected consumers’ systems. The amount of the transported gas featured a 10.9% reduction compared to 2015 (26.2 TWh). The smaller amount of gas transmission was mainly determined by reduced gas consumption for the production of fertilisers and generation of electricity.

Last year, the users of the system exploited 1.4 TWh of short-term capacities at the internal release point, i.e. 73.1% more than in 2015 (0.8 TWh). The records also show a significant increase in use of transmission capacities at the entry point with the Liquefied Natural Gas (LNG) Terminal in Klaipėda.

In 2016, total 14.6 TWh of gas was inlet through this point accounting for 60.3% of the total gas amount supplied from the Klaipėda LNG Terminal to the Lithuanian and other Baltic consumers, and 88.4 GWh/day of long-term capacities were booked leading to a more than threefold increase compared to 2015 (4.6 TWh) and meaning that the demand for the capacities increased by more than 5 times (16.2 GWh/day in 2015). In 2016, another 0.3 TWh of gas was supplied to the Lithuanian consumers through the interconnection point with Latvia.

UAB PricewaterhouseCoopers has made an audit of Amber Grid and presented the conclusions to the shareholders.

Amber Grid submited a separate Social responsibility Report for 2016 over NASDAQ Vilnius stock exchange. The previous report was released as a part of Annual report.

Bacground Information on AB Amber Grid

The natural gas transmission system operator, AB Amber Grid, ensures reliable and safe natural gas transmission (transportation through high-pressure gas pipelines) to system users and the operation, maintenance and development of the natural gas transmission infrastructure facilities. Shares of AB Amber Grid are listed on the Secondary List of the Stock Exchange NASDAQ OMX Vilnius. AB Amber Grid's control stake is held by the parent company, UAB EPSO-G, which also holds the controlling stakes of the electricity transmission system operator, AB LITGRID, and the energy exchange operator, UAB BALTPOOL. UAB EPSO-G, which is 100-percent controlled by the Ministry of Energy of the Republic of Lithuania, is in charge of the implementation of Lithuania's gas and electricity infrastructure strategic development goals, projects for the integration into the EU energy markets, and seeks to implement the EU Energy Union goals.

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