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About unaudited financial data of JSC “Ventspils nafta” for the first quarter

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About unaudited financial data of JSC “Ventspils nafta” for the first quarter

may 29, 2015 / Ventspils nafta

Ventspils nafta and its subsidiaries (Group)

The financial results of Ventspils nafta and its subsidiaries (the Group) for Q1 2015 were as follows:

  • Net profit was 12.04 million EUR;
  • Consolidated income rose by 2.6% to 48.59 million;
  • Gross profit increased by 24.5% to 14.5 million EUR;
  • Consolidated administrative costs fell by 0.57 million EUR to 2.88 million EUR.


Key figures 

 

Q1/2013

Q1/2014

Q1/2015

Turnover (million EUR)

48.15

47.38

48.59

Net profit (million EUR)

7.06

10.81

12.04

Gross profit before depreciation (million EUR)

% of turnover

19.82

41.2%

17.10

36.1%

19.90

41.0%

EBITDA (million EUR)

% of turnover

19.32

40.1%

12.94

27.3%

17.23

35.4%

EBIT (million EUR)

 % of turnover

10.96

22.8%

7.49

15.8%

11.82

24.3%

Return on Assets (%)

0.8%

1.5%

1.7%

Return on Equity (%)

1.19%

2.12%

2.53%

EPS attributable to owners of the parent (EUR)

0.04

0.06

0.07

Liquidity ratio

3.74

3.47

2.49

 

Ventspils nafta terminals (VNT): 

  • Income fell insignificantly by 0.84 million EUR to 24.1 million EUR;
  • Gross profit rose to 0.19 million EUR to 4.43 million EUR;
  • Net profit was 3.59 million EUR;
  • In Q1 2015, 47% or 1.6 million tonnes of the transhipped amount came by rail or sea, 53% or 1.8 million tonnes through pipeline.

 

LatRosTrans (LRT):

  • Revenue was 5.23 million EUR;
  • Gross profits rose 0.15 million EUR to 2.54 million EUR;
  • Net result in the reporting period was 6.12 million EUR;
  • Volumes of transported petroleum products rose by 2.3% to 1.80 million tonnes;
  • Net result was influenced by the net profit from exchange rate fluctuations – 7.4 million EUR.

 

Latvian Shipping Company and its subsidiaries (LSC Group):

  • Revenue was 21.98 million USD with a stable net voyage result for the period of 19.93 million USD;
  • Net profit was 2.98 million USD;
  • Fleet operating profit - 13.03 million USD.

 Unaudited condensed interim consolidated financial statements for 3 month period ended 31 March 2015

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 and storage, as well as 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; 49.94% in JSC “Latvijas kuģniecība”, which is among the leading ship owners in the world in the medium-sized and handy tankers category. 

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

 

Further information:

Elīna Dobulāne, Communications Consultant

JSC “Ventspils nafta”

Telephone: +371-25959447

E-mail: elina.dobulane@vnafta.lv