Financial Statement Release
Unaudited Financial Report of 12 months of 2013
In 12 months of the year 2013, the JSC Latvijas Gāze sold to the consumers 1452 million m3 of natural gas. In comparison with the respective period of 2012, the natural gas sales decreased by 0.8 % due to the differences in outdoor air temperature and investments by heat supply companies in the use of renewable energy resources and a partial replacement of fossil fuels with woodchip.
The gas injection season at the Inčukalns UGS began on April 17, 2013 and was completed on October 14, 2013. 2 137 million m3 of natural gas was injected over the season, reaching 2 300 million m3 at the end of the season.
Over 12 months of 2013, the consumers were sold natural gas and provided services for LVL 403.4 million (EUR 574.0 million), which is by 5.6 % less than in the respective period of 2012.
The decrease of income year-on-year stems from the lower natural gas sales volume and fact that during 12 months of 2013, due to changes in oil product quotations and currency rates, the residential and industrial customers were applied differential natural gas sale end-user tariffs corresponding to a natural gas sale price 4.1% below that of the 12 months of 2012. The income saw decrease both in the industrial and household sector.
JSC Latvijas Gāze completed 12 months of 2013 with a profit of LVL 22.6 million (EUR 32.2 million), which is 1.3% lower than in the respective period 2012 when JSC Latvijas Gāze profited LVL 22.9 million (EUR 32.6 million).
Within the framework of the capital investment programme, LVL 19.8 million (EUR 28.2 million) of investment funds was spent over 12 months of 2013, mostly on the renovation of gas transmission and distribution pipelines, the modernization of technological equipment and the reconstruction of wells.
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