2014 III Q Consolidated and Company's condensed interim financial information (unaudited)

Download 2014 III Q Consolidated and Company's condensed interim financial information (unaudited)

Post on 06-Apr-2016

212 views

Category:

Documents

0 download

Embed Size (px)

DESCRIPTION

 

TRANSCRIPT

<ul><li><p>LIETUVOS ENERGIJA UABCONSOLIDATED AND COMPANYS CONDENSED INTERIM FINANCIAL INFORMATION(unaudited)for a nine month periodended 30 September 2014</p><p> 2014</p></li><li><p>35</p><p>8</p><p>7</p><p>10</p><p>Condensed interim statement of financial position</p><p>Condensed interim statement of profit and loss and other comprehensive income</p><p>Condensed interim statement of changes in equity</p><p>Condensed interim statement of cash flows</p><p>Notes to the condensed interim financial information</p><p>TABLE OF CONTENTS</p><p>Translation note:</p><p>This condenced interim financial information is a translation from the original, which was prepared in Lithuanian. All possible care has been taken to ensure that the translation is an accurate representation of the original. However, in all matters of interpretation of information, views or opinions, the original language version of this document takes precedence over this translation.</p></li><li><p>3CONSOLIDATED AND COMPANYS CONDENSED INTERIM FINANCIAL INFORMATION (unaudited)for a nine-month period ended 30 September 2014</p><p>NotesGroup Company</p><p>30 Sep 2014 31 Dec 2013 30 Sep 2014 31 Dec 2013</p><p>ASSETS</p><p>Non-current assets</p><p>Intangible assets 4 334,349 336,017 - -</p><p>Property, plant, and equipment 5 7,700,131 7,318,650 22 33</p><p>Prepayments for non-current assets 7,836 132 - -</p><p>Investment property 126,874 121,626 - -</p><p>Subsidiaries and other investments 6 - - 3,539,795 2 763 355</p><p>Investments in associates 26,117 28,800 - -</p><p>Amounts receivable after one year 7 833,310 712,888 825,131 690 000</p><p>Long-term investments 8 16,657 57,302 16,657 57 302</p><p>Other non-current assets 21,101 17,850 - -</p><p>Deferred income tax assets 48,673 1,160 163 71</p><p>Total non-current assets 9,115,048 8,594,425 4,381,768 3,510,761</p><p>Current assets</p><p>Inventories 9 69,665 34,614 - -</p><p>Prepayments 10 160,966 16,292 56 8</p><p>Trade receivables 365,259 304,437 2 2</p><p>Other receivables 70,169 85,641 199,541 38,537</p><p>Other current assets 562 227 - -</p><p>Prepaid income tax 8,278 10,190 - -</p><p>Short-term investments 8 258 122,385 258 122,385</p><p>Cash and cash equivalents 11 556,911 558,396 4,375 309,974</p><p>1,232,068 1,132,182 204,232 470,906</p><p>Non-current assets held for sale 493 618 266 266</p><p>Total current assets 1,232,561 1,132,800 204,498 471,172</p><p>Condensed interim statement of financial position (unaudited)as of 30 September 2014All amounts in LTL thousands unless otherwise stated</p><p>(continued on the next page)</p></li><li><p>4CONSOLIDATED AND COMPANYS CONDENSED INTERIM FINANCIAL INFORMATION (unaudited)for a nine-month period ended 30 September 2014</p><p>TOTAL ASSETS 10,347,609 9,727,225 4,586,266 3,981,933</p><p>EQUITY AND LIABILITIES</p><p>Equity</p><p>Share capital 12 4,179,849 4,067,164 4,179,849 4,067,164</p><p>Reserves 13 848,084 1,456,119 250 -</p><p>Retained earnings (deficit) 1,065,475 30,194 402,988 (87,060)</p><p>Equity attributable to owners of the parent 6,093,408 5,553,477 4,583,087 3,980,104</p><p>Non-controlling interest 280,344 699,228 - -</p><p>Total equity 6,373,752 6,252,705 4,583,087 3,980,104</p><p>Liabilities</p><p>Non-current liabilities</p><p>Non-current borrowings 14 865,868 805,826 - -</p><p>Finance lease liabilities 167 36 - -</p><p>Grants and subsidies 1,079,080 1,091,511 - -</p><p>Deferred income tax liability 405,338 409,339 - -</p><p>Provisions 15 179,485 4,588 - -</p><p>Deferred income 184,969 189,523 - -</p><p>Other non-current amounts payable and liabilities 71,434 77,559 - -</p><p>Total non-current liabilities 2,786,341 2,578,382 - -</p><p>Current liabilities</p><p>Current portion of long-term debts 14 370,406 302,656 - -</p><p>Current borrowings 14 26,367 71,562 - -</p><p>Current portion of finance lease liabilities 78 8 - -</p><p>Trade payables 195,470 268,561 458 409</p><p>Advance amounts received 126,138 69,470 - -</p><p>Current income tax liabilities 26,906 7,765 67 -</p><p>Provisions 15 147,027 12,437 - -</p><p>Other current amounts payable and liabilities 295,124 163,679 2,654 1,420</p><p>Total current liabilities 1,187,516 896,138 3,179 1,829</p><p>Total liabilities 3,973,857 3,474,520 3,179 1,829</p><p>TOTAL EQUITY AND LIABILITIES 10,347,609 9,727,225 4,586,266 3,981,933</p><p>The accompanying notes form an integral part of this condensed interim financial information.</p><p>NotesGroup Company</p><p>30 Sep 2014 31 Dec 2013 30 Sep 2014 31 Dec 2013</p><p>Dalius MisinasChief Executive Officer</p><p>Darius KaauskasDirector of Finance and Treasury</p><p>Edita SteponaviienHead of Accounting Department</p></li><li><p>CONSOLIDATED AND COMPANYS CONDENSED INTERIM FINANCIAL INFORMATION (unaudited)for a nine-month period ended 30 September 2014</p><p>5</p><p>Notes</p><p>Group Company</p><p>1 January 30 September </p><p>2014</p><p>1 July 30 September </p><p>2014</p><p>1 January 30 September </p><p>2013</p><p>1 July 30 September </p><p>2013</p><p>1 January 30 September </p><p>2014</p><p>1 July 30 September </p><p>2014</p><p>1 January 30 September </p><p>2013</p><p>1 July 30 September </p><p>2013Revenue</p><p>Sales revenue 2,093,670 765,630 2,053,426 669,848 - - - -</p><p>Other operating income 108,027 45,513 85,603 34,795 6 2 6 2</p><p>Total revenue 2,201,697 811,143 2,139,029 704,643 6 2 6 2</p><p>Operating expensesPurchase of electricity and related services (916,773) (191,505) (961,312) (198,564) - - - -</p><p>Purchase of gas and fuel oil (651,586) (567,387) (320,631) (224,238) - - - -</p><p>Depreciation and amortisation (336,836) (117,504) (359,494) (111,470) (11) (2) (13) (5)</p><p>Wages and salaries and related expenses (185,323) (70,795) (167,294) (52,751) (7,263) (2,501) (5,150) (1,802)</p><p>Repair and maintenance expenses (73,765) (33,834) (50,524) (20,821) - - - -</p><p>Other expenses 16 (121,559) (60,258) (131,150) (36,138) (3,429) (1,280) (1,973) (721)</p><p>Total operating expenses (2,285,842) (1,041,283) (1,990,405) (643,982) (10,703) (3,783) (7,136) (2,528)Operating profit / (loss) (84,145) (230,140) 148,624 60,661 (10,697) (3,781) (7,130) (2,526)</p><p>Negative goodwill on acquisition ofLietuvos Dujos AB 19 154,203 - - - - - - -</p><p>Share of result of investment underequity method 19 149,194 - - - - - - -</p><p>Re-measurement of investmentunder equity method 19 (97,987) - - - - - - -</p><p>Finance income 17 19,366 5,101 14,759 4,348 501,089 253,332 120,507 3,773</p><p>Finance costs 18 (20,381) (4,809) (21,050) (7,315) (413) (192) (3) (3)</p><p>Share of results of other associates (992) (691) 348 - - - - -</p><p>Condensed interim statement of profit and loss and other comprehensive income (unaudited)for a nine month period ended 30 September 2014All amounts in LTL thousands unless otherwise stated</p><p>(continued on the next page)</p></li><li><p>CONSOLIDATED AND COMPANYS CONDENSED INTERIM FINANCIAL INFORMATION (unaudited)for a nine-month period ended 30 September 2014</p><p>6</p><p>Profit / (loss) before income tax 119,258 (230,539) 142,681 57,694 489,979 249,359 113,374 1,244Current year income tax expense (35,011) (10,477) (29,805) (8,697) (67) (42) - -</p><p>Deferred income tax income / (expense) 45,916 41,687 14,578 1,500 136 49 (630) (191)</p><p>Net profit / (loss) for the period 130,163 (199,329) 127,454 50,497 490,048 249,366 112,744 1,053Attributable to:</p><p>Owners of the parent 125,392 (193,088) 117,202 46,491 490,048 249,366 112,744 1,053</p><p>Non-controlling interest 4,771 (6,241) 10,252 4,006 - - - -</p><p>Other comprehensive income / (loss)Items that will not be reclassified to profit or loss</p><p>Gain (loss) on revaluation of non-current assets - - (65) - - - - -</p><p>Total items that will not be reclassified to profit or loss - - (65) - - - - -Items that will be reclassified to profit or loss</p><p>Change in fair value of available-for-sale financial assets 250 61 - - 250 61 - -</p><p>Total items that will be reclassified to profit or loss 250 61 - - 250 61 - -Total other comprehensive income / (loss) 250 61 (65) - 250 61 - -Total comprehensive income (loss) for the period 130,413 (199,268) 127,389 50,497 490,298 249,427 112,744 1,053</p><p>Attributable to:</p><p>Owners of the parent 125,642 (193,027) 117,381 46,732 490,298 249,427 112,744 1,053</p><p>Non-controlling interest 4,771 (6,241) 10,008 3,765 - - - -</p><p>The accompanying notes form an integral part of this condensed interim financial information.</p><p>Dalius MisinasChief Executive Officer</p><p>Darius KaauskasDirector of Finance and Treasury</p><p>Edita SteponaviienHead of Accounting Department</p></li><li><p>7CONSOLIDATED AND COMPANYS CONDENSED INTERIM FINANCIAL INFORMATION (unaudited)for a nine-month period ended 30 September 2014</p><p>Group Company</p><p>30 Sep 2014 30 Sep 2013 30 Sep 2014 30 Sep 2013Cash flows from operating activitiesNet profit (loss) for the period 130,163 127,454 490,048 112,744Adjustments for non-monetary items:Depreciation and amortisation 4,5 367,350 389,686 11 13Revaluation of property, plant and equipment 5 - 77 - -Impairment of assets (reversal of impairment) (10,645) (20) - -Share of the results of associates and joint ventures 992 (348) - -Income tax expense (10,905) 15,227 (69) 630(Depreciation) of grants (30,514) (30,611) - -Increase (decrease) in provisions 309,487 (1,345) - -(Gain) / loss on disposal / write-off of property, plant and equipment 8,405 9,214 - -Result on business acquisition 19 (205,568) - - -Elimination of results of financing and investing activities:Interest income 17 (11,806) (11,573) (11,320) (11,2520Interest expense 18 19,284 22,831 401 -Other finance (income) / costs (6,463) (4,967) (489,757) (109,252)Changes in working capital:(Increase) decrease in trade receivables and other amounts receivable 18,220 23,982 (27) 2,076(Increase) decrease in inventories, prepayments and othercurrent assets 107,189 24,330 (48) 107Increase (decrease) in amounts payable, deferred income andadvance amounts received (35,293) 100,064 1,327 (490)Income tax (paid) (31,649) (48,303) - -Net cash generate from / (used in) operating activities 618,247 615,698 (9,434) (5,424)Cash flows from investing activities(Acquisition) of PP&amp;E and intangible assets (289,108) (344,042) - (5,676)Disposal of PP&amp;E and intangible assets 3,298 4,889 - -Loans (granted), loan repayments received (100,851) 25,286 (100,131) 25,000Change in time deposits 722 64,090 - 61,070Acquisition of subsidiaries (associates) - - (64,511) (5)Grants received 9,695 5,618 - -Bonds acquired - (160,941) - (160,941)Bonds disposed 162,461 90,316 162,461 90,316Interest received 14,112 14,067 13,618 13,295Dividends received 6,643 - 292,043 109,255Acquisition of LESTO AB shares from minority shareholders 6 - - (117,887) -Acquisition of Lietuvos Dujos AB shares 19 (354,763) - (481,357) -Other investing (income) / costs 254 7 - -Net cash flows from / (used in) investing activities (547,537) (300,710) (295,764) 132,314Cash flows from financing activitiesProceeds from borrowings 727,492 164,327 - -Repayments of borrowings (598,723) (155,092) - -Finance lease payments 201 (267) - -Interest paid (19,160) (20,101) (401) -Dividends paid (24,540) (18,525) - -Acquisition of LESTO AB shares from minority shareholders 6 (117,887) - - -Other cash flows from financing activities 4,836 (39) - -Net cash flows from / (used in) financing activities (27,781) (29,697) (401) -Increase (decrease) in cash and cash equivalents(including overdraft) 42,929 285,291 (305,599) 126,890Cash and cash equivalents (including overdraft) at the beginningof the period 487,688 (3,215) 309,974 57,765Cash and cash equivalents (including overdraft)at the end of the period 530,617 282,076 4,375 184,655</p><p>Condensed interim statement of cash flows (unaudited)for a nine month period ended 30 September 2014All amounts in LTL thousands unless otherwise stated</p><p>The accompanying notes form an integral part of this condensed interim financial information.</p><p>Dalius MisinasChief Executive Officer</p><p>Darius KaauskasDirector of Finance and Treasury</p><p>Edita SteponaviienHead of Accounting Department</p></li><li><p>CONSOLIDATED AND COMPANYS CONDENSED INTERIM FINANCIAL INFORMATION (unaudited)for a nine-month period ended 30 September 2014</p><p>8</p><p>Group NotesEquity attributable to owners of the Group Non-</p><p>controlling interest</p><p>TotalShare capital</p><p>Legalreserve</p><p>Revaluation reserve</p><p>Other reserves</p><p>Retainedearnings Subtotal</p><p>Balance at 1 January 2013 (restated) 4,067,164 75,467 802,934 689,922 (207,569) 5,427,918 711,864 6,139,782Revaluation of property, plant and equipment, net of deferred income tax effects - - (62) - - (62) (3) (65)Total other comprehensive income (loss) for the period - - (62) - - (62) (3) (65)Net profit (loss) for the period (restated) - - - - 117,202 117,202 10,252 127,454Total comprehensive income (loss) for the period - - (62) - 117,202 117,140 10,249 127,389Transfer of revaluation reserve to retained earnings(transfer of depreciation, net of deferred income tax) - - (55,445) - 55,445 - - -Transfer to reserves and movement in reserves - 1,595 - (38,453) 36,858 - - -Dividends - - - - - - (18,818) (18,818)Changes in non-controlling interest on the groups restructuring - 12 164 - (2,162) (1,986) (6,036) (8,022)Balance at 30 September 2013 4,067,164 77,074 747,591 651,469 (266) 5,543,072 697,259 6,240,331</p><p>Balance at 1 January 2013 4,067,164 77,074 727,576 651,469 30,194 5,553,477 699,228 6,252,705Change in fair value of available-for-sale financial assets,net of deferred income tax effects - - - 250 - 250 - 250Total other comprehensive income (loss) for the period - - - 250 - 250 - 250Net profit (loss) for the period - - - - 125,392 125,392 4,771 130,163Total comprehensive income (loss) for the period - - - 250 125,392 125,642 4,771 130,413Transfer of revaluation reserve to retained earnings(transfer of depreciation, net of deferred income tax) - - (60,808) - 60,808 - - -Transfer to reserves and movement in reserves 13 - 1,250 - (651,556) 650,306 - - -Dividends - - - - - - (36,690) (36,690)Increase in share capital 12 112,685 - - - - 112,685 - 112,685Acquisition of shares from minority shareholders 6 - 5,792 97,044 (7) 198,775 301,604 (419,491) (117,887)Acquisition of subsidiary 19 - - - - - - 27,762 27,762Contribution of a non-controlling interest in the share capital of subsidiaries - - - - - - 4,764 4,764Balance at 30 September 2014 4,179,849 84,116 763,812 156 1,065,475 6,093,408 280,344 6,373,752</p><p>The accompanying notes form an integral part of this condensed interim financial information.</p><p>Condensed interim statement of changes in equity (unaudited)for a nine month period ended 30 September 2014All amounts in LTL thousands unless otherwise stated</p><p>Dalius MisinasChief Executive Officer</p><p>Darius KaauskasDirector of Finance and Treasury</p><p>Edita SteponaviienHead of Accounting Department</p></li><li><p>CONSOLIDATED AND COMPANYS CONDENSED INTERIM FINANCIAL INFORMATION (unaudited)for a nine-month period ended 30 September 2014</p><p>9</p><p>Company Notes Share capital Legal reserve Other reserves Retained earnings Total </p><p>Balance at 1 January 2013 4,067,164 - - (200,328) 3,866,836Net profit (loss) for the period - - 112,744 112,744Balance at 30 September 2013 4,067,164 - - (87,584) 3,979,580</p><p>Balance at 1 January 2014 4,067,164 - - (87,060) 3,980,104Increase in share capital 12 112,685 - - - 112,685Change in fair value of available-for-sale financial assets, net of deferred income tax effects - - 250 - 250Net profit (loss) for the period - - - 490,048 490,048Balance at 30 September 2014 4,179,849 - 250 402,988 4,583,087</p><p>The accompanying notes form an integral part of this condensed interim financial information.</p><p>Dalius MisinasChief Executive Officer</p><p>Darius KaauskasDirector of Finance and Treasury</p><p>Edita SteponaviienHead of Accounting Department</p></li><li><p>10CONSOLIDATED AND C...</p></li></ul>