Latvijas Gaze

Earnings Release • Nov 25, 2016

Unaudited financial statements of 9 months of 2016

In 9 months of the year 2016, the Latvijas Gāze sold to the consumers 920 million cubic meters of natural gas. In comparison with respective period of previous year the amount of natural gas sales was 6.6% higher.

The year 2016 saw a substantial price drop in the global oil markets, with influence on both the average natural gas purchase price and the annual income of Latvijas Gāze. Although in 2016 there began an increase in the oil prices, the natural gas sale price for the Latvian consumers is decreasing further due to being linked to the average oil products price of previous 9 months. In 9 month of 2016, the consumers were sold natural gas and provided services for 251 million EUR (previously 308 million EUR).

Despite the decrease in income caused by the price drop, the EBITDA reached 47.2 million EUR and the EBITDA margin increased year-on-year reaching 18.8% (previously 16.0% million EUR).

Vinsents Makaris

Investor relations manager

Phone + (371) 67 369 144

E-mail: IR@lg.lv