AB KN Energies unaudited financial information for the twelve months of 2023

AB KN Energies (hereinafter – KN, the Company) announces the unaudited consolidated (hereinafter – the Group) and separate financial results for the twelve months ended 31 December 2023.

Key financial indicators for the 12 months of 2023:

Management comment:

Regulated LNG activities revenue for the 12 months of 2023 reached EUR 48.7 million and is higher by EUR 4.1 million or 9.3% compared to the same period of 2022 (EUR 44.6 million). The main reasons: (1) higher regasification revenue by EUR 11.5 million due to increased demand and regasification tariff from 0.41 EUR/MWh (from May 2022 – 1.19 EUR/MWh) in 2022 to 1.41 EUR/MWh in 2023; (2) higher LNG reloading revenue by EUR 0.9 million; (3) other LNGT revenue is higher by EUR 2.4 million mainly due to payments from the clients for the unused allocated capacity; (4) lower revenue from the fixed part of LNG regasification service fee by EUR 10.7 million due to implemented LNG terminal capacity allocation and tariffication model when KN part in security supplement from May 2022 was decreased to 0 EUR/(MWh/day/year).

Revenue from commercial LNG activities for the twelve months of 2023 amounts to EUR 6.9 million and is higher by 27.4% compared to the same period in 2022 (EUR 5.4 million). Commercial LNG activities consist of business development projects including LNG terminal operator services provided in Brazil and Germany and LNG reloading station in Klaipeda.

Revenue from liquid energy terminals for the twelve months of 2023 amounts to EUR 27.9 million and is higher by 0.4% compared to the same period in 2022 (EUR 27.8 million). For the 12 months of 2023 Klaipeda liquid energy terminal transshipment volumes remained nearly the same as in the 12 months of 2022.

Enclosed:

1. Consolidated and Separate Financial Statements of AB KN Energies for 12 months period ended 31 December 2023.
2. Presentation of the unaudited financial results of the Group for the 12 months period of 2023.

Tomas Tumenas, Chief Financial Officer, +370 46 391772

Attachments

• AB KN Energies IFRS Q4 2023
• KN_activity results for_2023_Q4