The stable result of AB Amber Grid was determined by the increase in demand for gas transmission services and short-term capacity bookings

During the first three quarters of 2017, Lithuania‘s gas transmission system operator, AB Amber Grid, earned a revenue of EUR 46.8 million; the company’s EBITDA (earnings before tax, interest, depreciation and amortization) stood at EUR 27.9 million, and net profit stood at EUR 14.3 million.

During the first nine months of this year, AB Amber Grid's gas consumption, compared to the same period last year, increased by 10 percent.

"This year, we continue to notice a behaviour pattern change on the part of our system users, i.e. a more active self-management of their own needs: with the decrease in long-term system capacity bookings, at the same time, their demand for short-term capacities has shown a significant rise, the number of transactions on the gas exchange has been on the increase, and cross-border gas flows between the countries of the Region have shown an increase in activity. These changes call for additional efforts on our part in terms of our system management, but they also make for convenience and additional benefits to our system users, and help activate the market. That's exactly what we are aiming at“, said Saulius Bilys, CEO of AB Amber Grid.

Revenue and costs

During the three quarters of 2017, AB Amber Grid generated revenue in the amount of EUR 46.8 million, which is 0.5 percent down on the respective period of 2016. The revenue from natural gas transmission services decreased mainly due to the decrease in long-term capacities bookings and consumption capacities bookings in 2017.

The company‘s costs of the first three quarters of 2017 amounted to EUR 29.7 million, which represents a 2 percent decrease in comparison with the respective period of 2016.

Profit

AB Amber Grid's nine-month profit before tax amounted EUR 16.8 million (9 months of 2016: EUR 16.3 million), and EBITDA stood at EUR 27.9 million (9 months of 2016: EUR 28.6 million). 

During the past 9 months of this year, AB Amber Grid earned a net profit amounting to EUR 14.3 million (9 months of 2016: EUR 14.3 million).

Services

Transportation via the natural gas transmission system of the first three quarters of 2017 amounted to 37,294 GWh, which represents an increase of 15.2 percent on the respective period of 2016. Short-term capacity bookings of 9 months of 2017 amounted to 14,022 GWh, which is five times more than during the respective period of 2016 (2,876 GWh).

During the first 9 months of 2017, gas supplies entering the gas transmission system run by AB Amber Grid through Kotlovka Gas Metering Station (GMS) entry point from Belarus and destined for gas consumers of Lithuania and other Baltic States amounted to 8,990 GWh, and respective gas supplies entering the system from Klaipėda LNG Terminal amounted to 10,492 GWh, which covers 53.7 percent of the total demand of the aforesaid gas consumers. During the first three quarters of this year, natural gas transmission  from Lithuania's gas transmission system to the Baltic States via Kiemėnai Gas Metering Station amounted to 2,021 GWh (9 months 2016: 391 GWh), and natural gas transmission quantities coming from the Baltic States to Lithuania  amounted to  42 GWh (9 months of 2016: 9 GWh).

Nine-month natural gas transportation to Lithuanian customers amounted to 17,190 GWh. In comparison with the corresponding period of 2016, when gas transmission quantities stood at 15,675 GWh, this year’s gas transmission quantities show an increase of 9.7 percent. During the period under review, natural gas transportation to the Kaliningrad Region of the Russian Federation amounted to 18,083 GWh (9 months of 2016: 16,302 GWh).

As of 1 October 2017, AB Amber Grid was party to a total of 99 natural gas transmission service contracts with various natural gas transmission system users (natural gas consumers, natural gas distribution system operators, gas importers, natural gas supply companies delivering gas up to consumer systems).

 

Background information on AB Amber Grid:

AB Amber Grid, gas transmission system operator, ensures a reliable and secure transmission of natural gas through high-pressure pipe-systems to system users, as well as operation, maintenance, and development of the natural gas infrastructure. AB Amber Grid is listed on the supplementary trading list of the Baltics at NASDAQ Vilnius Stock Exchange. Controlling interest of AB Amber Grid is with UAB EPSO-G, a holding company which further holds controlling interests at AB Litgrid, electricity transmission system operator, and UAB BALTPOOL, energy resources exchange operator. 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 strategic tasks of the development of Lithuania’s gas and electricity infrastructure, it also manages projects dedicated to the integration into the EU energy markets, and seeks implementation of goals of the EU energy union.

 

For further information please contact:

Jolita Butkienė

Senior Officer of the Strategic Planning and Communication Division                                   

AB Amber Grid

Tel. +370 5  232 7737

e-mail: j.butkiene@ambergrid.lt

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