JSC ”Latvijas Gāze”: Unaudited financial results of Latvijas Gāze group for 9 months of 2020

Latvijas Gāze
Interim report (Q1 and Q3)

JSC 'Latvijas Gāze': Unaudited financial results of Latvijas Gāze group for 9 months of 2020

Until now 2020 was full of challenges for the world and the energy industry. Comparatively 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 group.

The group's net turnover in 9 months of 2020 was 132.3 million EUR, EBITDA* amounted to 29.7 million EUR and net profit was 17.7 million EUR.

The sales & trading segment's net turnover in 9 months of 2020 was 98.4 million EUR, EBITDA for the segment amounted to 15.7 million EUR and profit before taxes reached 14.7 million EUR. JSC 'Latvijas Gāze' during 9 months of 2020 sold 8 369 GWh of natural gas to its customers in Latvia and abroad.

Taking into account the development of the epidemiological situation, the Latvijas Gāze group decided to provide customer service only remotely in order not to pose risks to the health of customers and employees. JSC 'Latvijas Gāze' and JSC 'Gaso' customer service centres remain closed for visitors.

In 2020 JSC 'Latvijas Gāze' renewed its logo and visual identity. The new logo and visual identity present a modernized version of the current brand, with the aim of demonstrating company's current approach to its services and the dynamics of processes while maintaining the stability provided by the company's long-term experience. In addition to visual changes, the company's customers also can expect a new design and improved functionality of the customer portal, as well as other modernized services.

*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: [e-mail]

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