Half Year financial report
LATVIJAS GĀZE, JSC: FINANCIAL RESULTS FOR THE FIRST HALF OF 2018
The first half of 2018 was the first full half-year of business for the new structure of Latvijas Gāze group.
In the first six months of 2018 Latvijas Gāze group sold 499 million m3 (5,257 GWh) of natural gas and ensured its supply to over 400 thousand customers, reaching a turnover of 140.0 million EUR and a profit of 21.8 million EUR.
Despite increasing competition in the Latvian natural gas market, the JSC “Latvijas Gāze” prolonged the existing sales contracts with a number of key customers during the first half of the year, especially in May and June.
The Company not only delivers natural gas directly to its customers, but also sells natural gas at the Virtual Trading Point and at the Inčukalns Underground Gas Storage Facility.
In the second half of the year, the general market environment is likely to remain challenging. However, the progress in regional market integration and the growing trading activity at the Latvian Virtual Trading Point will also open up new sales and business opportunities.
Non-audited statements for 9 months of 2018 are due to be published on November 27, 2018.
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