JSC ”Latvijas Gaze”: Unaudited financial results of Latvijas Gaze group for the first half of 2020

The first half of 2020 has brought even more dynamic and challenging environment for the world and the energy industry. Mild temperatures, the lockdown measures connected to the spread of the coronavirus and low Natural Gas price levels were the key factors shaping the operating environment of the JSC "Latvijas Gaze”.

The Group’s net turnover in the first half of 2020 was 98.9 million EUR, EBITDA* amounted to 25.2 million EUR and net profit was 16.6 million EUR.

The sales & trading segment’s net turnover in the first half of 2020 was 73.6 million EUR, EBITDA for the segment amounted to 13.0 million EUR and profit before taxes reached 12.3 million EUR. JSC "Latvijas Gaze” during the first half of 2020 managed to sell 5 392 GWh of natural gas to its customers in Latvia and abroad.

Although the state of emergency in Latvia ended on June 9, 2020, JSC ”Latvijas Gaze” decided to continue providing customer service remotely in order not to pose risks to the health of customers. Currently the customer service centre of JSC "Latvijas Gaze” remains closed for visitors until further notice.

In recent months, JSC "Latvijas Gaze” has worked diligently to improve remote customer service, providing ample opportunities to communicate with the Company and receive services remotely. Some of the improvements include a new helpline telephone number, replacing previous premium rate number, as well as expansion of remote payment options. Also submission of meter readings is possible remotely.

Latvijas Gaze group will publish its unaudited consolidated financial statements for 9 months of 2020 on November 25, 2020.

*More detailed information on the alternative performance measures can be found on page 10 of the financial statements.

Additional information:
Madara Ventere
Head of Finance and accounting division
Phone: + (371) 67 369 281
E-mail: investor.relations@lg.lv

www.lg.lv

Attachment

• IFRS_Latvijas Gaze Consolidated_Unaudited_6_months 2020