OREANDA-NEWS. September 03, 2009. In Half 1 of 2009, consolidated pre-audited sales revenue of Lietuvos Dujos AB decreased by 8.6% year-on-year and amounted to LTL 714.0 million (in H 1 of 2008: LTL 780.8 million). The revenue decrease was mainly due to the drop in gas consumption caused by the recession of the national economy, reported the press-centre of Dujos AB.
 
Consolidated pre-audited profit before tax of Lietuvos Dujos AB of Half 1 of 2009 amounted to LTL 65.9 million (in H 1 of 2008: LTL 84.5 million), and the net profit of the period amounted to LTL 53.4 million (in H 1 of 2008: LTL 73.2 million). The profit of Half 1 of 2009 also reflects the partial compensation for the loss incurred in 2008 which has comprised in the activity of gas supply to household customers due to the natural gas imports price scissors. Due to the business specifics and the seasonal nature of gas business, the results for the first half of a year are usually much better than the ones of the remaining period of the year.
 
EBITDA of Half 1 of 2009 also decreased accordingly. Compared with the respective figure of Half 1 of 2008, EBITDA of Half 1 of 2009 decreased by LTL 15.9 million to LTL 112.9 million.
 
When commenting the financial results of the first half-year, Viktoras Valentukevicius, General Manager of Lietuvos Dujos AB, reminded that this year the Company was further pursuing its projects designed to enhance the Company’s productivity and save its costs. ‘Even before recession, within the period of fast economic and consumption growth, the number of employees was reduced by 22%, the financial debt was reduced to a minimum, structures with the total floor area about 30 thou m2 were sold, and maintenance expenses were optimized whereas the length of gas pipelines maintained, the number of gas consumers, and the volumes of gas transported and sold were rapidly increasing. With a view to raising the Company’s resource management efficiency, in 2009, the management structure of the Company’s branches is being optimized once again. As a result, by the end of the year 2009, the staff size of the Company will decrease by 4%’, - V.Valentukevicius said.
 
In Half 1 of 2009, the investments of Lietuvos Dujos AB Group hit record high and amounted to LTL 78.2 million (in H 1 of 2008: LTL 27.0 million). As it has been already announced, this year the Company is implementing two important Lithuanian National Energy Strategy projects. The construction of the gas transmission pipeline from Sakiai gas metering station to the border of Kaliningrad Region of the Russian Federation is approaching completion. An integral part of the project is enhancing the capacity of Sakiai gas metering station. The transit and the increase of the transit volumes is one of the aims of the National Energy Strategy of Lithuania.
 
The construction works of a new gas compressor station in Jauniunai, Sirvintos District are being continued. The construction of the new gas compressor station is scheduled for completion in Half 2 of 2010. This project is closely connected with the early decommissioning of Ignalina Nuclear Power Plant, enhancing gas supplies security and reliability as well as increasing gas transit volumes. When this project  is implemented, possibilities will open up to continue with the looping of the gas system, which will enhance gas transmission capacity, raise its supplies security and reliability for Klaipeda as well as other towns of western Lithuania.
 
In Half 1 of 2009, natural gas transportation and sales volumes decreased in year-on-year terms due to the recession of the national economy. In Half 1 of 2009, the Company’s gas sales volumes decreased by 13.5% year-on-year and amounted to 610.5 MCM. In the household sector, the Company’s sales volumes remained stable and amounted to 107.1 MCM, whereas in the non-household sector the Company’s sales volumes  amounted to 503.4 MCM.
 
In Half 1 of 2009, gas transportation volumes to all customers of Lithuania using the natural gas system operated and maintained by Lietuvos Dujos AB (including the customers buying gas from other suppliers) decreased by 22.4% year-on-year and amounted to 1,394.4 MCM. In Half 1 of 2009, transit volumes to the Kaliningrad Region decreased by 11.5% in year-on-year terms.
 
As of 30 June 2009, Lietuvos Dujos AB sold natural gas to 548 thou customers in the energy, industrial, small-and-medium business and household sectors.
 
Lietuvos Dujos AB shares are traded on the Main List of the Vilnius Stock Exchange, which belongs to the international stock exchange operator NASDAQ OMX. The consolidated financial results cover the results of the Group comprised by Lietuvos Dujos AB and its subsidiary Palangos Perlas UAB.