GlobeNewswire by notified

AB Klaipėdos nafta unaudited financial information regarding the nine months of 2021

Share

AB Klaipėdos nafta (hereinafter – KN, the Company) announces the unaudited consolidated (hereinafter – the Group) and separate financial results for nine months ended 30 September 2021.

Main financial indicators of the Group comparing 9 months of 2021 and 2020:

Financial results for 9 months of 2021Change, compared to 9 months of 2020Adjusted* results for 9 months of 2021 Change, compared to 9 months of 2020
Revenue46.3 million EUR- 23.8%46.3 million EUR- 23.8%
Net profit (loss)- 54.8 million EUR- 79.0 million EUR- 44.2 million EUR- 56.1 million EUR
EBITDA20.3 million EUR- 46.6%20.3 million EUR- 46.6%

Main financial indicators of the Company comparing 9 months of 2021 and 2020:

Financial results for 9 months of 2021Change, compared to 9 months of 2020Adjusted* results for 9 months of 2021Change, compared to 9 months of 2020
Revenue44.0 million EUR- 24.8%44.0 million EUR- 24.8%
Net profit (loss)- 55.5 million EUR- 79.1 million EUR-44.8 million EUR- 56.1 million EUR
EBITDA19.3 million EUR- 48.1%19.3 million EUR- 48.1%

* Adjusted financial figures are recalculated and presented by eliminating from net profit (loss) the following amounts: (1) the impact of unrealised foreign currency exchange rates arising from IFRS 16 requirements, (2) respective impact of deferred income tax arising from unrealised foreign currency exchange rates gains/losses and (3) impact of financial derivatives. As the Group and the Company changed adjusted figures calculation method in 2020, comparative figures were adjusted accordingly.

Management comment:

During nine months of 2021, the same as during 2020, the Group‘s and the Company‘s net profit was significantly affected by fluctuations of unrealized currency exchange rates. The unrealized impact of exchange rates arose from the 1st January of 2019 under the requirements of IFRS 16 “Lease”, which indicated the Company to capitalise finance lease obligations and the major part of them is denominated in US dollars. Whereas all US dollar denominated lease liabilities relate to LNG terminal, the effect of unrealized exchange rate is reflected in the regulated segment.

Regulated LNG activities revenue for nine months of 2021 is EUR 26.6 million and is lower by EUR 6.1 million or 18.7% compared to the same period of 2020 (EUR 32.7 million). The main reasons: (1) the reduction of LNG security supplement income in 2021 due to proportionally recognised repayment of the excess returns (surplus) from regulated activities during the period 2014-2019 and repayment related to LNG reloading revenue for 2019, which together amount to EUR 1.9 million for January - September 2021 (2) LNG security supplement level set by NERC for nine months of 2021 is lower in EUR 1.1 million compared to the same period of 2020; (3) regasification revenue lower in EUR 2.0 million during nine months of 2021 vs 2020; (4) lower fixed part amount in EUR 1.5 million has been collected during 9 months of 2021 due to lower consumption capacities compared to the same period of 2020; (5) fines for unused capacity in amount of EUR 0.4 million received in 2021 (no such in 2020).

Revenue from commercial LNG activities for nine months of 2021 is EUR 4.2 million and is EUR 0.1 million lower compared to the same period in 2020 (EUR 4.3 million). Commercial LNG activities consist of business development projects including LNG terminal operator services provided at the Port of Açu terminal in Brazil and LNG reloading station in Klaipėda.

Revenue from oil terminals for nine months of 2021 is EUR 8.3 million lower compared to the same period in 2020. KN has recognized an impairment for the assets of Klaipėda’s oil terminal in amount of 51 MEUR as at 31 August 2021 and a respective deferred income tax asset impact of 7.6 MEUR. Overall, the total impact (including deferred income tax asset and impact to depreciation expenses) from recognition of this impairment loss on net profit (loss) for the 9 months period ended 30 September 2021 amounts to 43.1 MEUR. The volume of biofuels transshipped at KN continued to grow successfully – during 9 months of 2021 handling increased by 38% compared to the same period last year. KN has extended the existing fuel oil storage contracts and concluded new ones for the storage of ethanol. The testing of bitumen transshipment has been successfully performed in Klaipėda oil terminal. The first bitumen cargo is planned to be loaded to ship during last quarter of 2021.

Enclosed:

  1. Condensed Consolidated and Separate Financial Statements of AB Klaipėdos nafta for 9 months period ended 30 September 2021.
  2. Presentation of the unaudited financial results of the Group for 9 months period of 2021.


Mindaugas Kvekšas, Chief Financial Officer, +370 46 391772


Attachments

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified 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 by notified

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

Latest releases from GlobeNewswire by notified

Nordic American Tankers Ltd (NYSE: NAT) – Further Purchase of NAT shares by Board Member Alexander Hansson21.1.2022 16:32:14 CET | Press release

Friday, January 21, 2022 Dear Shareholders and Investors, Alexander Hansson, Board Member in Nordic American Tankers Ltd (NAT) and son of Herbjorn Hansson, the NAT Founder, Chairman and CEO, has today bought 50,000 shares in NAT at $ 1.557 per share. Following the transaction, Alexander Hansson privately owns 1,185,000 shares in NAT. As in the past, the Hansson family is the largest private shareholder in the company. Alexander Hansson commented: "I strongly believe in the future of NAT" Sincerely, Herbjorn Hansson Founder, Chairman & CEO Nordic American Tankers Ltd. www.nat.bm CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, obje

CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK TREASURY BILLS21.1.2022 16:20:00 CET | Press release

Bid procedure, 2022-01-26BillsSWEDISH T-BILL: SE0017232689. 2022-04-20 Bid date2022-01-26Bid times10.00-11.00 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)SE0017232689: 2000 mln SEK +/-1000 mln SEK Highest permitted bid volume (corresponding nominal amount)SE0017232689: 2000 mln SEK per bid Lowest permitted bid volume (corresponding nominal amount)SEK 50 million per bidExpected allocation timeNot later than 11.15 (CET/CEST) on the Bid dateDelivery and payment date2022-01-28Delivery of billsTo the Riksbank's account in Euroclear Sweden AB's securities settlement system 1 4948 6383 Stockholm, 2022-01-21 This is a translation of the special terms and conditions published on www.riksbank.se. In the case of any inconsistency between the English translation and the Swedish language version, the Swedish language version shall prevail. Complete terms and conditions can be retrieved at www.riksbank.se.

CONDITIONS FOR RIKSBANK BID PROCEDURE KOMMUNINVEST BONDS21.1.2022 16:20:00 CET | Press release

Bid procedure, 2022-01-25BondsKOMMUNINVEST I SVERIGE: 2311. SE0010948240. 2023-11-13 KOMMUNINVEST I SVERIGE: 2611, SE0012569572, 2026-11-12 KOMMUNINVEST I SVERIGE: 2805, SE0015660139, 2028-05-12 BidsBids on interest and volume are entered via Bloomberg Bond Auction SystemBid date2022-01-25Bid times10.00-11.00Requested volume (corresponding nominal amount)2311: 500 mln SEK +/-250 mln SEK 2611: 500 mln SEK +/-250 mln SEK 2805: 500 mln SEK +/-250 mln SEK Highest permitted bid volume (corresponding nominal amount)2311: 500 mln SEK per bid 2611: 500 mln SEK per bid 2805: 500 mln SEK per bid Lowest permitted bid volume (corresponding nominal amount)SEK 50 million per bidExpected allocation timeNot later than 11.15 (CET/CEST) on the Bid dateDelivery and payment date2022-01-27Delivery of bondsTo the Riksbank's account in Euroclear Sweden AB's securities settlement system 1 4948 6383General Terms and ConditionsGeneral Terms and Conditions General Terms and Conditions för the Riksbank’s Purchase

CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK GOVERNMENT BONDS21.1.2022 16:20:00 CET | Press release

Bid procedure, 2022-01-28BondsSWEDEN I/L BOND: 3109. SE0005703550. 2025-06-01 SWEDEN I/L BOND: 3114, SE0013748258, 2030-06-01 Bid date2022-01-28Bid times09.00-10.00 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)3109: 500 mln SEK +/-250 mln SEK 3114: 500 mln SEK +/-250 mln SEK Highest permitted bid volume (corresponding nominal amount)3109: 500 mln SEK per bid 3114: 500 mln SEK per bid Lowest permitted bid volume (corresponding nominal amount)SEK 50 million per bidExpected allocation timeNot later than 10.15 (CET/CEST) on the Bid dateDelivery and payment date2022-02-01Delivery of bondsTo the Riksbank's account in Euroclear Sweden AB's securities settlement system 1 4948 6383 Stockholm, 2022-01-21 This is a translation of the special terms and conditions published on www.riksbank.se. In the case of any inconsistency between the English translation and the Swedish language version, the Swedish language version shall prevail. Complete terms and conditions can be

Avance Gas Holding Ltd - Enter into Time Charter Agreement for Avance Capella21.1.2022 14:33:03 CET | Press release

Bermuda, 21 January 2022 - Avance Gas Holding Ltd ("AGAS" or the "Company") announce that we have entered into a Time Charter Agreement for a period of 2 years for our second dual fuel VLGC, Avance Capella, to LPG & Ethylene Shipowner and LPG trader, Petredec. The vessel will commence the time charter shortly after delivery ex-yard in South Korea end of February 2022 and the time charter hire has a mechanism which gives both parties exposure to the spot market rate. This transaction is another step in executing on our strategy to increase our time charter portfolio while also maintaining access to the market upside. For further queries, please contact: Kristian Sørensen, CEO Tel: +47 22 00 48 00 Randi Navdal Bekkelund, CFO Tel: +47 22 00 48 00 About Avance Gas: Avance Gas operates in the global market for transportation of liquefied petroleum gas (LPG). The Company is one of the world's leading owners and operators of very large gas carrier (VLGC) and operates a fleet of thirteen ships

Proposals by the Nomination Board to the Annual General Meeting 2022 of Suominen21.1.2022 13:00:00 CET | Press release

Suominen Corporation's stock exchange release on January 21, 2022 at 2:00 p.m. EET Proposal on the number of the members, on the composition, and on the Chair of the Board of Directors The Nomination Board of Suominen Corporation’s shareholders proposes to the Annual General Meeting that the number of Board members remains unchanged and would be six (6). The Nomination Board proposes to the Annual General Meeting that Andreas Ahlström, Björn Borgman, Jaakko Eskola, Nina Linander and Laura Raitio would be re-elected as members of Suominen Corporation’s Board of Directors. Out of the current Board members, Sari Pajari-Sederholm has informed that she is not available as a candidate for the Board of Directors. In addition, the Nomination Board proposes that Aaron Barsness would be elected as a new member of the Board of Directors. Mr. Aaron Barsness (born 1973, BA (Biology and Environmental Studies), U.S. and Swedish citizen) currently works as the CMO of Fazer Group. He has held a number

Auriant Mining AB (publ.) publishes 12m 2021 operational update21.1.2022 11:20:00 CET | Press release

Highlights: In 12m 2021, total gold production amounted to 910.8 kg (29,283 oz), compared to 964.7 kg (31,014 oz) in 12m 2020, a decrease of 6%, or 53.9 kg (1,731 oz), but in line with the 2021 production plan; Hard rock gold production was 893.3 kg (28,720 oz), compared to 952.7 kg (30,629 oz) in 12m 2020, a decrease of 6%, or 59.4 kg (1,909 oz);Alluvial gold production amounted to 17.5 kg (563 oz), compared to 12.0 kg (386 oz) in 2020, an increase of 46%, or 5,5 kg (178 oz);12m 2021, total gold sales were 818.5 kg (26,316 oz), compared to 946.4 kg (30,428 oz) in 12m 2020, a decrease of 127.9 kg (4,112 oz), or 14%;428,300 tonnes of ore were processed with an average grade of 2.30 g/t;In 12m of 2021, the CIL plant operated for 8,004 hours at an increased throughput rate of 53.5 tonnes per working hour (>50 t/hour) and at the targeted recovery rate of 91.2%;458,500 tonnes of ore were mined in 12m 2021, compared to 387,200 tonnes in 12m 2020, an increase of 71,300 tonnes or 18%. Strippin