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About the unaudited financial data of JSC “Ventspils nafta” for the nine month period

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About the unaudited financial data of JSC “Ventspils nafta” for the nine month period

november 27, 2015 / Ventspils nafta

The financial results of Ventspils nafta and its subsidiaries (“the Group”) for 9M 2015 were as follows:

  • Net profit of 26.89 million EUR;
  • Consolidated income rose by 8.1% to 134.91 million EUR;
  • Gross profit increased by 18.8% to 39.77 million EUR.

Ventspils Nafta (the holding company)

  • VN, the holding company, made a net profit of 5.43 million EUR in 9M 2015 largely as a result of dividend income from VN’s investment in Ventspils nafta terminals Ltd, which amounted to 6.21 million EUR.

Ventspils nafta terminals (VNT)

  • Income rose by 2.14 million EUR to 62.09 million EUR;
  • Gross profit rose by 0.89 million EUR to 13.63 million EUR;
  • Net profit increased to 11.32 million EUR in 9M 2015;
  • In 9M 2015, the total throughput reached 7.4 million tons.

LatRosTrans (LRT)

  • Volumes of transported petroleum products fell by 18% to 3.85 million tons;
  • In 9M/2015 revenue was 11.15 million EUR;
  • Gross profits fell by 2.05 million EUR to 3.64 million EUR;
  • The net result for the reporting period was a profit of 6.16 million EUR.

Latvian Shipping Company (LSC)

  • Latvian Shipping Company (“LSC”) and its subsidiaries recorded a loss of 1.41 million USD for the first nine months of the year;
  • Revenues held up well at 68.93 million, with a net voyage result of 61.27 million USD.
  • Strong revenues, coupled with favourable foreign exchange movements, resulted in a net profit before exceptionals of 13.68 million USD;
  • The fleet operating profit for the nine months of 2015 reached 39.39 million.
 

About JSC “Ventspils nafta” 

JSC “Ventspils nafta” is one of the largest groups of companies in Latvia and works in the petroleum product transport, transhipment, storage and shipping sector. JSC “Ventspils” nafta is the Group’s parent company, which manages investments in subsidiary companies, by promoting the Group’s joint values and growth in value of each individual company. 

JSC “Ventspils nafta” owns 51% in “Ventspils nafta terminals” Ltd, which is the largest crude oil and petroleum product terminal in the Baltics; 66% in “LatRosTrans” Ltd, which is a Latvian-Russian joint venture in the Baltics; 49.94% in JSC “Latvijas kugnieciba”, which is among the largest ship owners in the world in the medium-sized and handy tankers category. 

Shares of JSC “Ventspils nafta” (NASDAQ RIGA: VNF1R) are quoted in the Baltic Main List of the stock exchange NASDAQ Riga since October 20, 1998.

 

Elīna Dobulāne, Communications Consultant

JSC “Ventspils nafta”

Phone: +371-25959447

E-mail: elina.dobulane@vnafta.lv

www.vnafta.lv