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April 27, 2015 10:24 PM ET

Electric Utilities

Company Overview of Lesto AB

Company Overview

Lesto AB distributes, transmits, 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 1,545,204 residential customers and 63,694 business customers; and operates 121,698 kilometers length of electricity lines. In addition, it provides real estate and transport rental, administration, and real estate management services. The company is headquartered in Vilnius, Lithuania. Lesto AB is a subsidiary of Lietuvos energija.

Zveju g. 14

Vilnius,  09310


3,004 Employees


370 5 277 7524


370 5 277 7514

Key Executives for Lesto AB

Chairman of the Board, Chief Executive Officer and Managing Director
Age: 40
Total Annual Compensation: $193.2K
Chief Accountant and Director of Accounting Department
Total Annual Compensation: $176.0K
Compensation as of Fiscal Year 2014.

Lesto AB Key Developments

Lesto AB, Annual General Meeting, Apr 27, 2015

Lesto AB, Annual General Meeting, Apr 27, 2015., at 11:00 E. Europe Standard Time. Location: Zvej str. 14. Agenda: To approve the consolidated annual report of the group of LESTO AB for the year 2013; to approve the consolidated Annual Financial Statements of LESTO AB for the year 2013; to allocate the profit (loss) of LESTO AB of the year 2013; to approve the new version of the Articles of Association of LESTO AB; and to change the registered office of LESTO AB.

Lesto AB Announces the Recall of Dalia Andrulioniene from the Board

On February 25, 2015, the Supervisory board of LESTO AB decided to recall Dalia Andrulioniene from the Board of LESTO AB from February 27, 2015. In addition, by the decision of the Supervisory Board of Lietuvos energija, UAB, Dalia Andrulioniene was elected to the Board of Lietuvos energija, UAB, and will start this position from March 2, 2015.

Lesto AB Reports Announces Unaudited Earnings Results for the Full Year Ended December 31, 2014

Lesto AB reported unaudited earnings results for the full year ended December 31, 2014. The net profit of Lesto in 2014, based on preliminary unaudited financial statements of the company, amounted to LTL 81.518 million (EUR 23.609 million), almost twice as much as in 2013 when it was equal to LTL 43.372 million (EUR 12.561 million). This was resulted due to continually improving the efficiency of the Company's operations, which helped to reduce the operating costs incurred by the company. EBITDA in 2014 (Earnings Before Interest, Taxes, Depreciation and Amortization) amounted to LTL 445.905 million (EUR 129.143 million), while in 2013 it was equal to LTL 446.905 million (EUR 129.433 million). Revenue in 2014 amounted to LTL 2.247 billion (EUR 650.776 million) and, compared with the same period of 2013, declined by 6.6%.

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