Published: 2017-05-30 15:31:00 CEST
Latvijas Gāze
Interim report (Q1 and Q3)

Latvijas Gāze, JSC: Unaudited condensed financial statements for Q1 2017

Latvijas Gāze has published its first interim statements as an integrated natural gas distribution system operator and natural gas trader.

In the 1st quarter of 2017, Latvijas Gāze has kept the sales volume at the previous year’s level by selling 510 million m3 of natural gas in Latvia and the neighbouring countries. The company’s net turnover in the first three months was 123.2 million EUR, with a net profit of 12.2 million EUR. Turnover has seen a year-on-year decrease of 8% due to a lower natural gas price in 2017.

The first months of the year saw active preparations for the opening of the Latvian natural gas market. The customers were notified of the forthcoming changes and the offers prepared by Latvijas Gāze.

Furthermore, in order to comply with the requirements of the Energy Law, the process of separation between the natural gas distribution system operator and the natural gas trader was launched, with the planned completion date of January 1, 2018.

Latvijas Gāze intends to publish its unaudited condensed financial statements for the first six months of 2017 on August 29, 2017.

         Vinsents Makaris
         Investor relations manager
         Phone: + (371) 67 369 144