AB Klaipėdos Nafta preliminary activity and revenue results for the July 2019


In July 2019 AB Klaipėdos nafta (hereinafter – the Company or KN) has reloaded 575 thousand tons of petroleum products in Klaipėda and Subačius oil terminals. During the first seven months of 2019 the Company in total reloaded 3,501 thousand tons of petroleum products into its storage tanks.   

The preliminary sales revenue of the Company’s oil terminals for July 2019 reached EUR 2.7 million. The preliminary sales revenue for January – July 2019 of the Company’s oil terminals comprise EUR 18.3 million.                                                                                                                      

In July 2019 the Company’s Liquefied Natural Gas (LNG) terminals have re-gasified and reloaded 2,256 thousand MWh of natural gas. During the first seven months of 2019 the Company in total re-gasified and reloaded 8,675 thousand MWh of the natural gas. Compared to the first seven months of 2018, during the same period in 2019 handling increased by 61.9 per cent, or by 5,357 thousand MWh.  

The preliminary sales revenue of the Company’s LNG terminals for July 2019 comprised EUR 5.9 (during the same month of 2018 – EUR 5.3 million). LNG terminal’s revenue consists of the re-gasification tariff fixed part (for booked annual capacities) and variable part for amount of re-gasified LNG, reloading revenues and additional income related to impact of currency exchange for lease liabilities. The LNG terminal revenue level (for booked annual capacities) does not depend on re-gasification volume. Revenue is confirmed by the National Energy Regulatory Council (NERC (NCECP before July 1st)) based on the approved methodology of State regulated prices in the natural gas sector and is calculated for the whole upcoming year. The preliminary revenue of the LNG terminals for the seven months of 2019 comprise EUR 41.5 million and are higher by 9,8 per cent compared to the same period of 2018 (EUR 37.8 million).

Total preliminary sales revenue of the Company in January - July of 2019 amount to EUR 59.9 million, or lower by 1.0 per cent compared to the same period of 2018 - EUR 60.5 million.   

Comment by the Company management:

In July, as expected, customers are slowly returning to the planned activity volumes, but the impact of the incident of contaminated oil in Druzhba oil pipeline is still being felt by our main customers and it is visible in the overall result for January-July. Nonetheless, we managed to maintain higher petroleum products handling volumes at the KN Oil Terminals, compared to the result for July, 2018, it is also reflected in the revenue for July 2019. Our main goal for the second half year of 2019 is to efficiently employ our infrastructure, actively competing with other neighboring terminals for the transshipment volumes and provided services for the clients. 
Klaipėda LNG terminal continues maintaining high activity volumes and the demand for Klaipėda LNG terminal capacity was further increased by the favourable situation in international markets. 

Petroleum products transshipment and LNG re-gasification and reloading:

  July January – July
  2019 2018 Change, % 2019 2018 Change, %
Petroleum products reloaded, thousand tons 575 514 11.9% 3 501 4 109 -14.8%
LNG re-gasification and reloading, thousand MWh 2,256 838 169.1% 8,675 5,357 61.9%

Petroleum products transshipment, LNG re-gasification and reloading volumes in 2019:

  January February March April May June July
Petroleum products reloaded, thousand tons 626 454 461 433 446 506 575
LNG re-gasification and reloading, thousand MWh 471 173 96 1,475 1,774 2,430 2,256

Preliminary revenue of the Company, EUR million:

  July January – July
201 9 201 8 Change, % 201 9 201 8 Change, %
Oil terminals activity 2.7 2.6 3.8% 18.4 22.7 -18.9%
LNG terminals activity 5.9 5.3 11.3% 41.5 37.8 9.8%
Total: 8.6 7.9 8.9% 59.9 60.5 -1.0%

   Jonas Lenkšas, Chief Financial Officer, +370 694 80594

About GlobeNewswire

One Liberty Plaza - 165 Broadway
NY 10006 New York

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire

Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire

Ress Life Investments A/S: Ress Life Investments A/S publishes Net Asset Value (NAV)29.5.2020 20:50:00 CESTPress release

Ress Life Investments Holbergsgade 14, 2 tv DK-1057 Copenhagen K Denmark CVR nr. 33593163 To: Nasdaq Copenhagen Date: 29 May 2020 Corporate Announcement 22/2020 Ress Life Investments A/S publishes Net Asset Value (NAV). Ress Life Investments A/S publishes the Net Asset Value (NAV) per share and performance data as of 15 May 2020. NAV per share in USD: 1955.92 NAV per share in EUR: 1811.38 The performance during the first half of May was 0.01% in USD. The year-to-date net performance is -0.15% in USD. Assets under management (AUM) was 184.6 million US dollars. Questions related to this announcement can be made to the company's AIF-manager, Resscapital AB. Contact person: Gustaf Hagerud Tel + 46 8 545 282 27 Note: The terms for subscription of shares, minimum subscription amount and redemption of shares are provided in the Articles of Association, Information Brochure and in the Key Investment Information Document (KIID) availabl

Eastern Property Holdings Limited (EPH):First quarter 2020 Financial Update29.5.2020 19:45:23 CESTPress release

29 May 2020, Road Town, Tortola, BVI KEY EVENTS In March 2020, the Company received EUR 204.7 million by issuance of subordinated notes to its two largest shareholders at an interest rate of 3.5% p.a. The management intends to use the funds for the acquisition of properties in Western Europe in order to further strengthen the Group’s business and follow its strategy to invest in premium quality income producing commercial property assets in Europe.Arbat sales have been continued: a few more apartments and parking lots were sold in Q1 2020.Leases with the Company’s top tenants (Chanel and Richemont Group) have been extended.As a subsequent event, in April 2020 the Company acquired 89.9% of interest in the Nhow Hotel in Berlin, Germany. The property had been completed in 2010 and comprises approximately 20,160 sqm, including 304 rooms, 86 underground & 39 surface parking spaces, a spa, restaurant and two music studios. FINANCIAL HIGHLIGHTS The Company’s rental properties demonstrate stab

AB Linas Agro Group performance and financial results for 9-month period of FY 2019/2029.5.2020 16:30:07 CESTPress release

Consolidated revenue was 9.6 % less and totaled EUR 476 million. Sales volume reached 1.67 million tons of various products and was 3.2% less as compared to previous year. The gross profit reached EUR 27.1 million and was 11,8 % higher than a year before. Consolidated EBITDA was 74 % higher and amounted to EUR 11.8 million. The operating profit was EUR 2.9 million (last year there was an operating loss of EUR 1.2 million). Profit before taxes amounted to EUR 0.67 million (compared to a loss of EUR 3.6 million in the previous year). Net profit attributable to the Group amounted to EUR 0.64 million (previous year there was a loss of EUR 3.5 million). A brief comment by Finance Director Mažvydas Šileika: Trade in grains, oilseeds and feedstuffs has been affected by the pandemic as the borders of the countries were closed, and the value of some stocks that haven’t been sold before quarantine has declined during the quarantine. Sales fell 16% to EUR 305 million. However, the operating profi

Conditions for Riksbank Bid Procedures SEK Municipal Bonds29.5.2020 16:20:00 CESTPress release

Bid procedure on 2 June 2020, Municipalities and Regions Bonds:Fixed-rate Bonds issued in SEK by Municipalities or Regions with maturity in 2023. The following issuers are accepted for delivery: Borås Kommun Göteborgs Kommun Jönköpings Kommun Nacka Kommun Norrköpings Kommun Skåne Läns Landsting Stockholms Kommun Stockholms Läns Landsting Sundsvalls Kommun Vellinge Kommun Delivery may not be made in Bonds purchased by the Counterparty from the issuer less than one week prior to the date for announcing the Specific terms, i.e. the purchase may not have been made after 22 May 2020.Bids:Bids are made to tel 08-696 69 70 and confirmed in writing by a filled-in Bid form by e-mail to date:Tuesday 2 June 2020Bid time:1000-1100 hours (CEST) on the Bid dateRequested volume: (corresponding nominal amount)SEK 750 +/- 750 millionHighest permitted bid volume: (corresponding nominal amount)The total bid volume from one Counterparty for the two Credit rating classes may not exceed