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GZE: Unaudited Financial Report of 6 months of 2012

Spekuliantai.lt | 2012-08-30 | NASDAQ OMX biržų naujienos | perskaitė: 721
Raktiniai žodžiai: Latvijas Gaze, GZE
GZE: Unaudited Financial Report of 6 months of 2012

Latvijas Gaze Half Year financial report 30.08.2012

Unaudited Financial Report of 6 months of 2012

In 6 months of 2012, the JSC Latvijas Gāze sold to the consumers 837 million m3
of natural gas. Compared to the respective period of 2011, natural gas sales
have decreased by 9.5 % and is 0.3% or 2.9 million m3 under the volume planned
in the budget of 2012.

The gas injection season at the Inčukalns UGS began on April 25, 2012. Upon
starting natural gas injection, the reserves of active gas at the Inčukalns UGS
were 145 million m3. It is planned that 2180 million m3 of natural gas would be
injected into the Inčukalns UGS in 2012.

Over 6 months of 2012, the consumers have been sold natural gas and provided
services for LVL 239.6 million, which is by 22.2 % more than in the respective
period of 2011 and by 0.9 % more than budgeted.

The rise of income over the respective period of 2011 has taken place because
in the 1st half year of 2012 the industrial and residential customers were
applied differential natural gas sale end-user tariffs corresponding to a
natural gas sale price, which was by 34 % higher than in the 1st half year of
2011 due to quotations of the heavy fuel oil prices and changes in currency
exchange rates. Compared to 2011, the income grew in both the industrial and
the household customers sector.

The Company completed 6 months of 2012 with a profit of LVL 5.8 million, which
is by 28.4 % less than in the respective period of 2011 when the profit
amounted to LVL 8.1 million.

Within the framework of the capital investment programme, LVL 6.43 million of
investment funds were spent over 6 months of 2012, mostly on the renovation of
gas transmission and distribution pipelines, the modernization of technological
equipment and wells.



Vinsents Makaris
Phone + (371) 67 369 144
E-mail: IR@lg.lv


1. 2012_6_Months.pdf
(https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=402547)

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