Financial data
Financial data (in EUR thousand, if not indicated otherwise)
* Acquisitions of the non-current assets of the LNG terminal are negative because have been adjusted by the insurance compensation (amounting EUR 119 thousand) related with the construction of the LNG terminal constructions.
1 EBITDA = earnings before interest, taxation, depreciation and amortization;
2 EBIT= earnings before interest and taxation;
3 Return on equity (ROE) = net profit of the last twelve moths / (total average equity at the end of the period + total average equity at the beginning of the period) / 2;
4 Return on assets (ROA) = net profit of the last twelve moths / (total average assets at the end of the period + total average assets at the beginning of the period) / 2;
5 Gross liquidity ratio = total current assets at the end of the period / total current liabilities at the end of the period.
6 Quick ratio = (total current assets at the end of the period - Inventories at the end of the period) / total current liabilities at the end of the period,
P/E = The indicator describing the company's share price and earnings per share ratio.
| H1 2018 | H1 2017 | H1 2016 | H1 2015 | H1 2014 | |||||
| Transhipment of oil products (thousand t) | 3,594 | 3,262 | 4,425 | 3,329 | 2,500 | ||||
| LNG regasification, thousand MWh | 4,519 | 4,869 | 9,207 | 2,640 | - | ||||
| Investments (acquisitions of non-current assets): | 6,313 | 10,208 | 8,150 | 2,569 | 13,801 | ||||
| Klaipėda oil terminal | 5,432 | 5,901 | 2,361 | 279 | 865 | ||||
| LNG terminal | 149 | 217 | 49 | 2,239 | 12,904 | ||||
| LNG reloading station | 716 | 3,996 | 5,527 | - | - | ||||
| Subačius oil terminal | 17 | 94 | 213 | 51 | 33 | ||||
| Financial figures | |||||||||
| Sales revenue | 52,739 | 52,341 | 57,348 | 53,871 | 16,726 | ||||
| Gross profit | 12,687 | 11,065 | 15,313 | 13,363 | 6,049 | ||||
| EBITDA 1) | 17,229 | 15,207 | 19,478 | 17,537 | 7,904 | ||||
| EBIT 2) | 10,321 | 8,311 | 12,897 | 11,127 | 4,283 | ||||
| Financial and investment activities result | -43 | -59 | -152 | -579 | 195 | ||||
| Profit before taxation (EBT) | 10,219 | 8,227 | 12,802 | 10,888 | 4,283 | ||||
| Net profit | 10,210 | 7,389 | 11,722 | 9,458 | 3,670 | ||||
| Current assets | 89,952 | 52,045 | 63,033 | 52,315 | 34,844 | ||||
| Non-current assets | 203,564 | 189,957 | 182,499 | 185,818 | 162,168 | ||||
| Total assets | 293,516 | 242,002 | 245,532 | 238,133 | 197,012 | ||||
| Shareholders’ equity | 193,523 | 190,702 | 190,897 | 184,225 | 169,129 | ||||
| Profitability | |||||||||
| Return on assets (ROA) 4) | 7.4% | 3.9% | 10.0% | 6.9% | 4,0% | ||||
| Return on equity (ROE) 3) | 10.3% | 5.0% | 13.0% | 8.5% | 4.8% | ||||
| Gross profit margin | 24.1% | 21.1% | 26.7% | 24.8% | 36.2% | ||||
| EBITDA margin | 32.7% | 29.1% | 34.0% | 32.6% | 47.3% | ||||
| EBIT margin | 19.6% | 15.9% | 22.5% | 20.7% | 25.6% | ||||
| EBT margin | 19.4% | 15.7% | 22.3% | 20.2% | 25.6% | ||||
| Net profit margin | 19.4% | 14.1% | 20.4% | 17.6% | 21.9% | ||||
| Turnover | |||||||||
| Accounts receivable, days | 44 | 45 | 38 | 89 | 25 | ||||
| Accounts payable, days | 41 | 37 | 33 | 34 | 63 | ||||
| Financial structure | |||||||||
| Debt to equity ratio | 0.52 | 0.27 | 0.29 | 0.29 | 0.16 | ||||
| Capital to assets ratio | 0.66 | 0.79 | 0.78 | 0.77 | 0.86 | ||||
| Gross liquidity ratio (current ratio) 5) | 3.97 | 3.28 | 2.90 | 2.30 | 3.24 | ||||
| Quick ratio 6) | 3.90 | 3.20 | 2.84 | 2.23 | 3.19 | ||||
| Market value ratios | |||||||||
| Price-Earnings Ratio (P/E) | 9.9 | 18.4 | 8.1 | 9.6 | 14.2 | ||||
| Earnings per share (EPS) | 0.027 | 0.019 | 0.031 | 0.025 | 0.010 |
1 EBITDA = earnings before interest, taxation, depreciation and amortization;
2 EBIT= earnings before interest and taxation;
3 Return on equity (ROE) = net profit of the last twelve moths / (total average equity at the end of the period + total average equity at the beginning of the period) / 2;
4 Return on assets (ROA) = net profit of the last twelve moths / (total average assets at the end of the period + total average assets at the beginning of the period) / 2;
5 Gross liquidity ratio = total current assets at the end of the period / total current liabilities at the end of the period.
6 Quick ratio = (total current assets at the end of the period - Inventories at the end of the period) / total current liabilities at the end of the period,
P/E = The indicator describing the company's share price and earnings per share ratio.
Financial data in Excel (XLSX) format
Approved budget and objectives for the year 2018
As to the financial year 2018 budget, approved by the Board of the Company, oil transshipment shall remain at the similar level as during the year 2017 – 7.2 million tons, meanwhile, 10.6 million MWh is planned to be re-gasified at LNG terminal. Projected income for the year 2018 should comprise Eur 102.6 million, which would lead to Eur 10.2 million net profit. Earnings before interest, tax and depreciation (EBITDA) should comprise Eur 26.9 million.
Company’s budget for the year 2018 is based more on conservative operating assumptions considering all potential risks that might occur in KN operating market. Essential threats, which were taken into account during the budgeting process, are dynamic global geopolitical situation, which is the main factor that causes deviation of oil transshipment quantities and constant change in crude oil market price. Also, one-off items, as mentioned earlier, that are able to improve financial results of the Company, were not taken into account during the preparation of budget for the year 2018.
Undoubtedly, one of the essential long term strategic objectives and aims for the Company during the year 2018 is environmental safety. AB Klaipedos nafta is seeking to assure sustainable growth of the business, therefore, environmental and social aspects are one of the Company’s top priorities. The goal of the management of the Company is to conciliate the aims of KN shareholders with society or other stakeholders.
Company’s budget for the year 2018 is based more on conservative operating assumptions considering all potential risks that might occur in KN operating market. Essential threats, which were taken into account during the budgeting process, are dynamic global geopolitical situation, which is the main factor that causes deviation of oil transshipment quantities and constant change in crude oil market price. Also, one-off items, as mentioned earlier, that are able to improve financial results of the Company, were not taken into account during the preparation of budget for the year 2018.
Undoubtedly, one of the essential long term strategic objectives and aims for the Company during the year 2018 is environmental safety. AB Klaipedos nafta is seeking to assure sustainable growth of the business, therefore, environmental and social aspects are one of the Company’s top priorities. The goal of the management of the Company is to conciliate the aims of KN shareholders with society or other stakeholders.