Half Year financial report
Latvijas Gāze, JSC: Unaudited condensed financial statements for the first half of 2017
Latvijas Gāze has published its first interim statements as an integrated natural gas distribution system operator and natural gas trader.
In the first half of 2017, Latvijas Gāze has kept the sales volume at the previous year’s level by selling 7,668 MWh (730 million m3) of natural gas domestically and abroad. The company’s net turnover in the first six months was 177.3 million EUR, with a net profit of 14.1 million EUR. Turnover has seen a year-on-year decrease of 2.5% due to a lower natural gas sale price in early 2017, the period of active heating.
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 is in progress, with the planned completion date of January 1, 2018.
Latvijas Gāze intends to publish its unaudited condensed financial statements for the first 9 months of 2017 on November 28, 2017.
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