City Service SE
Interim information

City Service consolidated results for the six months of 2012

Vilnius, Lithuania, 2012-08-30 21:00 CEST -- AB City Service announces its unaudited Consolidated Interim Financial Statements for the six months of 2012, prepared according to International Financial Reporting Standards, and Consolidated Interim Report for the six months of 2012.

The total consolidated City Service revenue for the six months of 2012 was LTL 271 million (EUR 78.4 million), including LTL 166 million (EUR 48.7 million) in foreign markets compared to the total revenue of LTL 268 million (EUR 77.6 million) for the six months of 2011.

Net profit for the period amounted to LTL 10 million (EUR 2.9 million), a decrease by 9 % over LTL 11 million (EUR 3.2 million) a year ago. EBITDA for six months of 2012 was LTL 18.8 million (EUR 5.4 million), a decrease by 4 % over LTL 19.6 million (EUR 5.7 million) a year ago.

Non-recurring cost of reorganization amounting to LTL 1.5 million (EUR 0.4 million) had a negative impact on financial results of the first six months. During reorganization AB City Service transferred to direct control of 100% controlled subsidiary UAB City Service LT commercial real estate management and maintenance activities,  also shares of the subsidiaries that are registered in Lithuania and manage residential facilities in Lithuania or perform other activities related with the residential facility management. After reorganization AB City Service acts as holding enterprise, stated Žilvinas Lapinskas, Director General of AB City Service.

City Service group operates in Lithuania, Russia, Latvia, with 18.6 million square meters of facilities under management of Group’s companies.

* AB City Service market capitalization as of 30 August 2012 to 2011 sales, EBITDA, EBIT and net profit in each column accordingly.             

ENCLUDING: AB City Service Interim Consolidated Financial Statements for the six months of 2012 (in LTL) and AB City Service Interim Consolidated Report for the six months of 2012 (in LTL).

         Vilius Mackonis,
         Head of communication
         +370 5 239 4900