Emitents | Ventspils nafta, AS |
Veids | Finanšu pārskati |
Valoda | EN |
Statuss | Publicēts |
Versija | |
Datums | 2011-08-31 19:54:12 |
Versijas komentārs | |
Teksts |
JSC Ventspils nafta, as a parent company’s (hereafter –
Group’s parent company) net profit reached LVL 4.9 million in the
first half-year of 2011. In 2011 the Group’s parent company
continued implementing the strict cost cutting policy that was
started in 2010 with the most substantial savings achieved in
administrative expenses. In the first six months of this year
administrative expenses have decreased by 100 thousand lats. JSC
Ventspils nafta as a parent company has achieved that
administrative expenses have decreased by half over a period of two
years, saving approximately 0.5 million lats for the 6 month period
vs the first half year of 2009.
Consolidated net turnover of JSC Ventspils nafta and its
subsidiaries (hereafter – JSC Ventspils nafta Group) in the first
half-year of 2011 has reached 35 million lats and the net profit
has reached 925 thousand lats.
The turnover of the JSC Ventspils nafta subsidiary Ventspils
nafta termināls Ltd has reached 29.1 million lats in the first six
months of 2011. Ventspils nafta terminals Ltd handled nearly 6
million tons of petroleum products in the first half-year of 2011,
which is 24% or 1.2 million tons more than in the same period in
2010.
JSC Ventspils nafta subsidiary, owner and operator of crude
oil and petroleum products pipeline in the territory of Latvia
LatRosTrans Ltd has reached the operating income of 5.9 million
lats in the first six months of 2011, which is 29% more than
budgeted. Increase of transportation volumes in comparison with the
budgeted volumes was the main reason for improvement of the
economic activity results of LatRosTrans Ltd.
Petroleum product transportation volumes of LatRosTrans Ltd in
the accounting period amounted to 3.25 million tons, which is 289
thousand tons (9.8%) more than in the first half-year of 2010. The
actual losses of LatRosTrans Ltd in the accounting period were 1.37
million lats. The main reason of financial losses in the half-year
is writing off the fixed assets that are not used in economic
activity in the amount of 1.4 million lats.
In the first half-year of 2011, the JSC Ventspils nafta
associated company JSC Latvian Shipping Company worked with losses
in the amount of 8.75 million US dollars, which was three times
less than in the same period in 2010. These losses have substantial
effect on the consolidated profit of the JSC Ventspils nafta Group
for the accounting period, however, positive trends are observed in
operation of JSC Latvijas kuģniecība in 2011 in comparison with
2010. The gross profit of JSC Latvian Shipping Company in the first
half-year of 2011 increased by 309% compared to the same period in
2010 reaching 7.02 million US dollars and was sufficient to fully
cover administrative costs. These administrative costs were reduced
by 34% compared to the first half-year of 2011.
JSC Ventspils nafta is the central holding company in a
transit-oriented Group whose task is to manage the investments in
subsidiaries by promoting the Group's joint values and growth in
the value of each subsidiary individually. JSC Ventspils nafta
Group is working in the following areas: transshipment of crude oil
and petroleum products; transport of crude oil and petroleum
products by pipelines; shipping.
JSC Ventspils nafta
Elīna Dobulane Press Secretary JSC “Ventspils nafta” Phone: 25959447 E-mail: elina.dobulane@vnafta.lv |
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