OREANDA-NEWS. May 29, 2012. LITGRID AB Group reported revenue of LTL 124.5 million for January-March 2012, which is an increase of 14.7% versus January-March 2011 when it was LTL 108.5 million. Revenue from electricity energy transmission accounted for 48% of the total income posted by the group.

In the first quarter of 2012, the amount of electricity transmitted by the transmission system operator LITGRID AB for domestic needs via high-voltage electricity grids totalled 2.47 billion kWh, or 0.2% more compared to the first quarter of 2011. Distribution networks operator Lesto AB received 2.29 billion kWh (plus3.1% versus Q1 2011), and electricity transmission to other consumers reached 0.19 billion kWh (-25.6%).

In this same period, LITGRID AB Group EBITDA stood at LTL 48.9 million and was 46.5% higher than the EBITDA of the first quarter of 2011 (LTL 33.4 million). EBITDA margin was 37.5% (30.7% in 2011).

LITGRID AB Group net profit for the first quarter of 2012 reached LTL 15.3 million compared to the LTL 5 million loss suffered in the first quarter of 2011. The Group's profitable activity is mostly attributed to the LTL 14.2 million increase in revenue from electricity and associated services.

Within Q1 2012, the investments made by the transmission system operator LITGRID AB reached LTL 31.8 million. Most of the investments (78%) were earmarked for the implementation of strategic projects, while the remaining part was allocated to the reconstruction and development of the transmission network.

LITGRID AB is implementing strategic Lithuanian electricity energy projects, including the international electricity interconnections NordBalt (Lithuania-Sweden) and LitPol Link (Lithuania-Poland), and is responsible for the full-fledged integration of the Lithuanian electricity energy system into the European Continental Network and the common European electricity market.