AB Klaipėdos nafta financial results for the 9 months of 2016
31st October 2016
AB Klaipėdos nafta (hereinafter – the Company) webinar– presentation of the financial results for the 9 months of 2016
Marius Pulkauninkas Finance and Administration Department Director
Mission, vision, values
Activities of the Company
LNG small scale
Global LNG import terminal projects
Highlights of Q3 2016
- AB Klaipėdos nafta and BNK (UK) Limited which is an affiliate of the leading exporter of Byelarussian oil products – ZAT Belaruskaja neftenaja kampanija , have signed a long term contract on provision of oil products transshipment services through AB Klaip ėdos nafta terminal . The terms of the Contract are valid until 31th October 2019 with an option to extend them .
- UAB SGD logistika, which is a wholly -owned subsidiary of AB Klaipėdos nafta , signed the amendments of a joint venture agreement with partner Bomin Linde LNG GmbH & Co . KG on joint performance of the activities of operating the LNG vessel . UAB SGD logistika will hold 10 % of the authorised share capital and Bomin Linde LNG GmbH & Co . KG will hold 90 % of the authorised share capital .
- On 3th October 2016 , the Company sold it's 33 .33 per cent shares of UAB LITGAS . The shares were acquired by Lietuvos energija , UAB which now owns 100 per cent of UAB LITGAS share capital . Transaction amount – EUR 4 350 000 .
*For the last 12 month period
EBITDA for the 9 months of 2015, MEUR
EBITDA for the 9 months of 2016, MEUR
-0.3
| MEUR |
9
months,
2016 |
9
months,
2015 |
|
| Revenue |
27.7 |
28.5 |
|
| Net profit |
9.1 |
10.8 |
|
| EBITDA |
14.9 |
17.9 |
|
Business factors:
- During 3rd quarter 2016 Orlen Lietuva achieved 98.1 per cent utilization capacity. Therefore Company reloaded 17 per cent more oil products in comparison to 3rd quarter 2015.
- In the second half of 2016 due to political reasons the crude oil supply to Byleorussia refineries has been reduced that affected the slow down in transit cargos transhipment.
Revenue & EBITDA, MEUR
Transshipment, thousand tons
| MEUR |
9
months,
2016 |
9
months,
2015 |
| Revenue |
2.1 |
1.8 |
| Net profit |
0.9 |
0.6 |
| EBITDA |
1.6 |
1.3 |
Business factors:
- In connection with the increased fuel consumption the amount of stored obligatory reserve of oil products has increased accordingly.
- During the 9 months of 2016 sales revenue from the commercial contract amounted to EUR 479 thousand.
Revenue & EBITDA, MEUR
Average storage volume, thousand tons
| MEUR |
9
months,
2016 |
9
months,
2015 |
|
| Revenue |
50.5 |
48.6 |
|
| Net profit* |
3.3 |
1.9 |
|
| EBITDA |
8.0 |
6.1 |
|
*The LNG terminal activity profit is regulated in terms as set by the laws. Actually foreseen the net profit for the LNG activities for the year 2016 should amount to EUR 4.5 million. Additionally collected amount will be dedicated to compensate the LNG terminal required expenses for the upcoming financial periods.
Revenue & EBITDA, MEUR
Facts:
- During the 9 months of 2016 13 LNG carriers have been accepted, which have delivered 812.9 thousand tons LNG;
- 12,218 thousand MWh natural gas have been re-gasified and supplied to the gas transmission system (+232%);
- In Q1-Q3 2016 there were 3 LNG terminal users: LITGAS UAB, Lietuvos dujų tiekimas UAB, Achema AB.
Re-gasification, thousand MWh
Investments of the Company, EUR thousand
Investment projects approved by the Board
As to the Company's Strategy for 2016 – 2020, EUR 200 millions of investments are planned, including EUR 100 million investments into Global LNG projects.
| MEUR |
9
months,
2016 |
9
months,
2015 |
Change
% |
| Sales Revenue |
80.3 |
78.9 |
1.8% |
| Gross profit |
18.4 |
18.9 |
-2.6% |
| EBITDA |
24.3 |
25.0 |
-2.8% |
|
|
|
|
Profit before taxation
(EBIT) |
14.3 |
15.3 |
-6.5% |
| Net profit |
13.0 |
13.1 |
-0.8% |
|
|
|
|
| Gross profit margin |
22.9% |
23.9% |
- |
| EBITDA margin |
30.3% |
31.8% |
- |
| Net profit margin |
16.2% |
16.6% |
- |
|
|
|
|
Return
on equity (ROE)* |
11.6% |
9.6% |
- |
| Return on assets (ROA)* |
9.1% |
7.8% |
- |
Profit per share (EPS),
EUR/share |
0.034 |
0.034 |
0% |
| Average number of shares |
380,606,184 |
380,606,184 |
- |
* Ratios are calculated for the last 12 months period.
Equity and liabilities, MEUR
Thank you for your attention
AB Klaipėdos nafta
Registered address - Burių str. 19, LT-91003; Klaipėda Lithuania
Mailing address - Baltijos ave. 40, LT-93239, Klaipėda, Lithuania
Tel. +370 46 391772
Fax +370 46 311399
www.oil.lt, www.sgd.lt