OREANDA-NEWS. August 17, 2015.  LESTO AB, identification code 302577612, registered office placed at Aguonu str. 26, Vilnius, Republic of Lithuania. The total number of registered ordinary shares issued by company is 603 944 593; ISIN code LT0000128449.

During the first six months of 2015 the net profit of LESTO, based on preliminary unaudited financial statements of the Company, amounted to EUR 43.039 million – 2.9 times more compared to the same period of 2015 when it was equal to EUR 14.693 million.

The increase of net profit was resulted by significantly lower depreciation and amortization expenses. They are calculated on the basis of a new assessment of the Company’s tangible assets of the beginning of the year.

In January-June 2015 the company’s EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) amounted to EUR 71.024 million – 2 % more that in 2014 during the same period, when EBITDA was equal to EUR 69.775 million. EBITDA margin increased by 2.75 per cent points and amounted to 24.27 %.

"During the first half of the year we have achieved the goals that we have set: our operational efficiency continued to improve, we have shortened the period of getting electricity for the customers and lowered its price, our distribution network improved by becoming more reliable, safe and modern. The number of our customers registered in electronic self-service has increased and already exceeded half a million. This encourages us to make even more efforts and to invest into those customer services, which are preferred by increasing number of our customers," – says Aidas Ignatavi?ius, CEO of LESTO.

LESTO revenue in the first six months of 2015 amounted to EUR 292.632 million and, compared with the same period of 2014, declined by 10 %. The revenue decreased as a result of lower electricity tariffs from the beginning of the 1st of January 2015.

AB LESTO group interim report for the six months of 2015 is due to be published on 31 August, 2015.