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July 28, 2015 12:48 AM ET

Electric Utilities

Company Overview of Lesto AB

Company Overview

Lesto AB, together with its subsidiaries, transmits, distributes, and supplies electric power in Lithuania. The company operates an electricity distribution network that consists of low and medium voltage lines and equipment. It also offers power network engineering, construction, repair, and maintenance services, as well as customer connection to the grid services. The company serves 1,561,059 residential customers and 66,179 business customers; and operates 122,797 kilometers length of electricity lines. In addition, it provides real estate and transport rental, administration, and real estate management services. The company was founded in 2010 and is headquartered in Vilnius, Lithuania. ...

Aguonu street 26

Vilnius,  3212

Lithuania

Founded in 2010

3,010 Employees

Phone:

370 5 277 7524

Fax:

370 5 277 7514

Key Executives for Lesto AB

Chairman of the Board, Chief Executive Officer and Managing Director
Age: 41
Total Annual Compensation: $193.2K
Compensation as of Fiscal Year 2014.

Lesto AB Key Developments

Lesto AB, Special/Extraordinary Shareholders Meeting, Jul 01, 2015

Lesto AB, Special/Extraordinary Shareholders Meeting, Jul 01, 2015., at 09:00 E. Europe Standard Time. Location: Aguonu str. 26. Agenda: To consider the election of the audit company for the audit of financial reports of the company for the year 2015 and set of terms of remuneration for audit services.

National Control Commission for Prices and Energy Fines LESTO for Violations Detected in the Act of Scheduled Inspection

On June 4, 2015, the National Control Commission for Prices and Energy adopted a decision to fine LESTO EUR 300,000 for the violations detected in the act of scheduled inspection and ordered to correct the regulated cost statements for the period 2011-2013. According to the Commission, during period 2011-2013 LESTO assigned EUR 16,455 million cost more than it could be assigned for regulated electricity distribution activity and EUR 1,174 million cost more than it could be assigned for regulated public supply service. LESTO does not agree with the decision of the Commission and has appealed to court for annulment of December 19, 2014 Commissions act of scheduled inspection. LESTO also does not agree with the June 4, 2015 decision of the Commission and is considering a possibility to challenge it in Vilnius Regional Administrative Court.

Lesto Announces Unaudited Group and Company Earnings Results for the First Quarter Ended March 31, 2015

Lesto announced unaudited group and company earnings results for the first quarter ended March 31, 2015. For the quarter, on group basis, the company reported revenue of EUR 159,243,000 against EUR 177,081,000 a year ago. Operating profit was EUR 31,653,000 against EUR 14,197,000 a year ago. Profit before income tax was EUR 30,973,000 against EUR 13,788,000 a year ago. Net profit for the year attributable to owners of the company was EUR 27,774,000 or EUR 0.159 per share against EUR 11,497,000 or EUR 0.066 per share a year ago. Net cash generated from operating activities was EUR 36,235,000 against EUR 26,745,000 a year ago. Purchase of property, equipment and intangible assets was EUR 35,353,000 against EUR 29,587,000 a year ago. ROA was 0.80% against 0.28% a year ago. Negative ROE was 32.27% against positive ROE of 2.15% a year ago. EBITDA was EUR 42,347,000 against EUR 40,499,000 a year ago. Net financial debt was EUR 212,741,000 against EUR 172,616,000 a year ago. For the quarter, on company basis, the company reported revenue of EUR 155,805,000 against EUR 173,732,000 a year ago. Operating profit was EUR 31,510,000 against EUR 14,310,000 a year ago. Profit before income tax was EUR 30,875,000 against EUR 13,887,000 a year ago. Net profit for the year attributable to owners of the company was EUR 27,619,000 or EUR 0.158 per share against EUR 11,782,000 or EUR 0.067 per share a year ago. Net cash generated from operating activities was EUR 33,400,000 against EUR 24,172,000 a year ago. Purchase of property, equipment and intangible assets was EUR 33,793,000 against EUR 28,514,000 a year ago.

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Type
Date
Target
Merger/Acquisition
March 3, 2015
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