Half Year financial report
Unaudited financial results of “Latvijas Gāze” Group for the first half of 2019
“Latvijas Gāze” Group consists of two business segments:
- The natural gas sales & trading segment, operated by JSC “Latvijas Gāze”
- The natural gas distribution segment, operated by JSC “Gaso”
Due to strong deliveries into the Estonian natural gas markets and significantly higher gas demand in the power generation segment during May and June the JSC “Latvijas Gāze” during the first half 2019 in total sold 755 million m3 (7 952 GWh) of natural gas to more than 400 thousand customers. In comparison to the first 6 months in 2018 total sales increased by 54%. The Group’s net turnover for the first half of 2019 amounted to 190 million EUR and was 41% higher than during the same period in 2018. The Group’s operating activities for the first half of the year resulted in EBITDA* of 11.2 million EUR and a net profit of 2.7 million EUR.
Despite the difficult market environment, the JSC “Latvijas Gāze” remains fully committed to achieving the best possible financial performance and creating sustainable value for all stakeholders.
Latvijas Gāze Group will publish its unaudited financial statements for the third quarter of 2019 on November 27, 2019.
*More detailed information on the alternative performance measures can be found on page 10 of the financial statements.
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