OREANDA-NEWS. LESTO AB, identification code 302577612, registered office placed at Zveju str. 14, Vilnius, Republic of Lithuania. The total number of registered ordinary shares issued by company is 603 944 593; ISIN code LT0000128449.

The net profit of LESTO in 2014, based on preliminary unaudited financial statements of the Company, amounted to LTL 81.518 million (EUR  23.609 million) – almost twice as much as in 2013 when it was equal to LTL 43.372 million (EUR 12.561 million). This was resulted due to continually improving the efficiency of the Company's operations, which helped to reduce the operating costs incurred by the Company.

LESTO EBITDA in 2014 (Earnings Before Interest, Taxes, Depreciation and Amortization) amounted to LTL 445.905 million (EUR 129.143 million), while in 2013 it was equal to LTL 446.905 million (EUR 129.433 million) EBITDA margin increased by 1.21 per cent points and amounted to 19.85 %.

LESTO revenue in 2014 amounted to LTL 2.247 billion (EUR 650.776 million) and, compared with the same period of 2013, declined by 6.6 %.

“Ensuring better prices for consumers, higher quality customer services and reliability of electricity supply and distribution, last year we reached our desired outcomes. Due to lower electricity prices, our revenues decreased slightly. However, efficient operations let EBITDA margin to increase by 1.21 per cent points. In 2014, Company invested to operational efficiency improvement measures, whose impact will be important in the future financial results of the Company. Generally speaking, results achieved in 2014 are a strong incentive to continue to maintain our strategic objectives, which will ensure a sustainable business activity" - said Andrius Bendikas, Director of Finance and Administration division of LESTO AB and Member of the Board.

We draw the attention, that the financial indicators are based on the preliminary unaudited financial statements of the Company for the year 2014. It also does not assess of the undergoing process of the valuation of the Company's tangible fixed assets, dated 31 December 2014, that could have a significant negative impact on Company’s financial results.  Investors will be informed on 18 February 2015, with a separate Notification on material event due to results of fixed assets valuation.