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VNF: Profit of VNT in 2012 was 10.44 million lats

Spekuliantai.lt | 2013-02-22 | NASDAQ OMX biržų naujienos | perskaitė: 878
Raktiniai žodžiai: Ventspils nafta, VNF
VNF: Profit of VNT in 2012 was 10.44 million lats

Ventspils nafta Company Announcement 22.02.2013

Profit of VNT in 2012 was 10.44 million lats

With forecast for 2013

The profit of “Ventspils nafta termināls” (VNT), “Ventspils nafta” Group’s
subsidiary, was 10.44 million lats in 2012 according to unaudited financial
statements of the company. It is by 23% higher than profit VNT made a year
before – in 2011 the company generated a profit of 8.5 million lats. „2012 was
good year – we over achieved our target”, explains the General Director of VNT
Lars Pantzlaff.

“The plan for 2013 is to remain at an average profit level seen over the last 3
years which is 8-9 million lats and thus remaining stable and predictable. The
target throughput for 2013 is at least 10 million tons though exact market
predictions are hard to make” forecasts the General Director of VNT Lars

The revenue of VNT was 60.4 million lats in 2012. The transhipment volume was
just over 12.0 million tons of oil products which amounts for a considerable
market share in liquid cargo transhipment. VNT has handled 48% of total liquid
cargo in Latvia in 2012 or 72% of total liquid cargo in the port of Ventspils.
”Due to the weight of VNT in the Latvian liquid transhipment market, the
company is a strong asset to the Latvian economy, that generates taxes and
creates jobs both directly and through supporting operations of other
businesses and organisations. As in the recent few years, with ongoing support
of shareholders and authorities this position can be further strengthened to
the benefit of the company, the city and port, as well as the country”,
stresses the General Director.

VNT is also the largest oil product terminal in the Baltic States and handles
about 20% of all liquid cargo transhipped through the ports of Latvia,
Lithuania and Estonia.

January has been a good start into 2013 with a transhipment volume of more than
1 million tons.

VNT’s investment programme envisages further investing into the development and
modernisation of infrastructure of the terminal in the amount of 10-15 million
lats over the next years. Investments are planned to be directed at building
vapour recovery system in coordination with AS Ventbunkers, replacing a railway
unloading rack, upgrading VNT’s waste water management, and renewal of
pipelines to the jetty. In 2013 it is planned to invest 3 million lats.

About VNT

VNT provides transit services − the receipt of crude oil and petroleum products
via pipelines, rail tank cars and tankers, as well as their storage and
transhipment. VNT is technologically the most advanced and largest crude oil
and petroleum product transhipment company in the Baltics with the total tank
storage capacity of 1.2 million cubic meters.

51% of VNT is owned by JSC Ventspils nafta (NASDAQ OMX RIGA: VNF1R), which is
one of the largest groups of companies in Latvia, and operates in the sector of
transit business. JSC Ventspils nafta is the Group's parent company, which
manages investments into the companies within the Group, thus facilitating the
growth in the overall value of the Group and its individual companies.

Ilze Nagla
Public Relations Manager
JSC Ventspils nafta
Tel.: 29267454, 67715914
E-mail: ilze.nagla@vnafta.lv
www.vnafta.lv, www.vnt.lv

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2013-05-27 | NASDAQ OMX biržų naujienos 2013-05-27 | NASDAQ OMX biržų naujienos 2013-05-27 | NASDAQ OMX biržų naujienos 2013-05-27 | NASDAQ OMX biržų naujienos


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