December 07, 2016 6:56 AM ET

Electric Utilities

Company Overview of AS Latvenergo

Company Overview

AS Latvenergo, a power supply utility, generates and supplies electricity and thermal energy in the Baltic states. It generates electricity through various renewable energy sources, including hydropower, wind power, biomass, biogas etc., as well as fossil fuel comprising natural gas and other types of fuel. The company also provides electricity distribution services to approximately 840 thousand customers in Latvia. In addition, it offers transmission system asset management, as well as telecommunication and information technology services. The company was founded in 1939 and is based in Riga, Latvia.

12 Pulkveža Brieža Street

Riga,  1230


Founded in 1939

4,184 Employees


371 67 723 511

Key Executives for AS Latvenergo

Chairman of Management Board and Chief Executive Officer
Age: 50
Chief Operating Officer and Member of Management Board
Age: 35
Chief Commercial Officer and Member of Management Board
Age: 50
Chief Technology & Support Officer and Member of the Management Board
Group Treasurer
Compensation as of Fiscal Year 2016.

AS Latvenergo Key Developments

Ministry Denies Possibility Of Buying Shares In Conexus Baltic Grid Through Latvenergo

The Latvian Economics Ministry is not considering the possibility of buying shares in JSC "Conexus Baltic Grid", the gas transmission and storage system operator to be established as a result of the planned unbundling of Latvijas Gaze natural gas utility, through AS Latvenergo, the ministry's deputy state secretary for energy, Janis Patmalnieks told Baltic News Service. The ministry has hired an advisor, Deloitte Latvia, to analyze three possible scenarios regarding shares in Conexus Baltic Grid, namely, the Latvian government not buying any shares in the new company, becoming a minority shareholder or acquiring a controlling stake.

Latvenergo Group Announces Unaudited Consolidated Earnings and Operating Results for the Six Months Ended June 30, 2016

Latvenergo Group announced unaudited consolidated earnings results for the six months ended June 30, 2016. For the six months, the company reported revenue of EUR 475,998,000 against EUR 474,136,000 a year ago. Operating profit was EUR 91,711,000 against EUR 79,055,000 a year ago. Profit before tax was EUR 85,536,000 against EUR 70,645,000 a year ago. Profit for the period was EUR 74,631,000 against EUR 61,698,000 a year ago. Net cash flows from operating activities were EUR 198,452,000 against EUR 118,458,000 a year ago. Purchase of intangible assets and property, plant and equipment was EUR 77,186,000 against EUR 83,070,000 a year ago. EBITDA was EUR 203.3 million against EUR 177.8 million a year ago. Return on equity was 4.7% compared to 2.4% a year ago. Return on assets was 2.8% compared to 1.4% a year ago. Net debt was EUR 648.4 million compared to EUR 703.6 million a year ago. For the first half year, the company reported Electricity generation of 2,431 GWh compared to 1,931 GWh a year ago. Thermal energy generation was 1,527 GWh compared to 1,395 GWh a year ago.

AS Latvenergo, H1 2016 Earnings Call, Sep 05, 2016

AS Latvenergo, H1 2016 Earnings Call, Sep 05, 2016

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Recent Private Companies Transactions

No transactions available in the past 12 months.

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