OREANDA-NEWS. AB Amber Grid announces unaudited condensed financial statements for year 2014 prepared in accordance with International Financial Reporting Standards.

As a result of the appraisal of the recoverable value of the AB Amber Grid’s non-current assets by the value in use (discounted cash flows) method as at 31 December 2014, it was found that non-current assets impairment amounted to LTL 490 million (EUR 141.91 million), which was accounted at the end of year 2014 through the reduction by respective amounts of the values of assets accounted in the balance sheet.

The results of AB Amber Grid for the year 2014 prepared according to the International Financial Reporting Standards:

  • Revenue for the year 2014 - LTL 183.3 million (EUR 53.1 million);
  • Pre-tax loss for the year 2014 - LTL 469.6 million (EUR 136.0 million), before considering the impact on asset impairment profit before taxes amounted LTL 20.4 million (EUR 5.9 million);
  • Net loss for the year 2014 - LTL 391.6 million (EUR 113.4 million), before considering the impact on asset impairment net profit amounted LTL 24.9 million (EUR 7.2 million).

Enclosed:

1. AB Amber Grid condensed financial statements as of 31 December 2014.

2. AB Amber Grid press release on unaudited results of operations for the full year 2014.