May 23, 2018 4:57 PM ET

Electric Utilities

Company Overview of AS Latvenergo

Company Overview

AS Latvenergo, a power supply utility company, engages in the electricity and thermal energy generation and trade, electricity distribution services, and lease of transmission system assets businesses. It generates electricity through various renewable energy sources. The company also provides electricity distribution services to approximately 830 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

Latvia

Founded in 1939

3,908 Employees

Phone:

371 67 723 511

Key Executives for AS Latvenergo

Chairman of Management Board and Chief Executive Officer
Age: 51
Chief Financial Officer and Member of the Management Board
Age: 36
Chief Operating Officer and Member of Management Board
Age: 36
Chief Commercial Officer and Member of Management Board
Age: 51
Accounting Director
Compensation as of Fiscal Year 2017.

AS Latvenergo Key Developments

Latvenergo AS Appoints PricewaterhouseCoopers SIA as Auditor

The annual shareholders’ meeting of Latvenergo AS was held on May 9, 2018. At the meeting the shareholders approved the appointment of PricewaterhouseCoopers SIA to conduct the audit for year 2018.

Latvenergo AS to Payout Dividend to the State for the year 2017

The Annual Shareholders’ Meeting of Latvenergo AS was held on 9 May 2018. At the meeting the shareholders approved the distribution of the company's profit for the year 2017 of EUR 150,890,619 as: EUR 91,998,299 to pay out to the state in dividends; EUR 58,892,320 to retain with a purpose to distribute them in year 2019, by adopting such decision along with the decision on distribution of Latvenergo AS profit for the year 2018. To pay out to the state in dividends EUR 64,419,567, which have been transferred from its profit for the year 2016 to the retained earnings (reserves) with a purpose to decide on their pay-out to the state in dividends, by adopting such decision along with a decision on distribution of Latvenergo AS profit for the year 2017.

Latvenergo Announces Audited Consolidated Earnings Results for the Year Ended 2017

Latvenergo announced audited consolidated earnings results for the year ended 2017. For the full year, the company reported revenue was €925,627,000 against €931,619,000 a year ago. Operating profit was €234,082,000 against €160,773,000 a year ago. Profit before tax was €224,114,000 against €148,945,000 a year ago. Profit for the year was €322,021,000 against €130,593,000 a year ago. Profit attributable to equity holder of the parent company was €319,670,000 against €129,045,000 a year ago. Diluted earnings per share were €0.25 against €0.1 a year ago. Net cash flows from operating activities were €338,209,000 against €341,186,000 a year ago. Purchase of intangible assets and PPE was €233,744,000 against €185,674,000 a year ago. EBITDA was €541.7 million against €393.4 million a year ago. Return on equity was 12.2% against 5.8% a year ago. Return on assets was 7.7% against 3.5% a year ago.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
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