The Latvian transmission system operator JSC Augstsprieguma tīkls has published unaudited interim financial statements for the period ended 31 December  2021.

AST's revenue in the 2021 was 126,85 million EUR, but the profit – 59,12 million EUR. AST Group's revenue totaled EUR 183,29 million EUR, out of which profit was 12,44 million EUR.

AST's high profit-to-income ratio is the result of the dividends received from JSC Conexus Baltic Grid amounting to 58 million EUR.

The amount of profit from the electricity transmission service in 2021 was negatively affected by the sharp increase in the price of electricity. However, according to the “Methodology for Calculating Tariffs for Electricity Transmission System Services”, the increase in costs caused by fluctuations in electricity prices will be shown in the next regular period.

In October 2021, the revaluation of the assets of the electricity transmission system (power lines and electrical equipment) was started, which may affect the financial results of AST in 2021. They will be included in the Company's 2021 audited financial statements.

All reports are available on the AST website https://www.ast.lv/en/content/financial-statements in the section Interim financial statements.

AST is Latvia's electricity transmission system operator, providing continued, reliable and sustainably efficient electricity transmission throughout Latvia. Its vision is to become the region's leading transmission system operator, operatively and successfully implementing development-aimed changes. AST owns 68.46% of the capital shares of the natural gas transmission and storage system operator JSC Conexus Baltic Grid