AB Amber Grid announces unaudited condensed financial statements for year 2017 prepared in accordance with International Financial Reporting Standards.
In 2017 AB Amber Grid has changed the accounting method for fixed assets from cost basis method to the revalued amount method. The income method chosen to evaluate the fair value of assets, using discounted cash flows calculation method. When determining the fair value of the fixed assets, impairment loss with the value of EUR 35.5 million recorded in the income statement.
The results of AB Amber Grid for the year 2017:
• Revenue for the year 2017 – EUR 64.3 million (the year 2016 – EUR 66.7 million) ;
• Pre-tax loss for the year 2017 – EUR 12.1 million (the year 2016 – profit before tax EUR 24.3 million);
• Net loss for the year 2017 – EUR 9.9 million, before considering the impact on asset impairment net profit amounted EUR 20.3 million (the year 2016 – net profit EUR 20.9 million).
EBITDA (earnings before interest, taxes, depreciation and amortisation) for the year 2017 amounted to EUR 38.3 million (the year 2016 EUR 41.8 million).
Enclosed:
1. AB Amber Grid condensed financial statements as of 31 December 2017.
2. Press release.
The individual authorised by AB Amber Grid (the issuer) to provide additional information on the material event:
Rimantas Šukys
Financial Director
tel. +370 5 236 0854
fax +370 5 236 0850
e-mail: r.sukys@ambergrid.lt