MAZEIKIAI — Маžeikių Nafta reported its consolidated preliminary financial results for the first three months of 2004 to the Lithuanian Stock Exchange. PricewaterhouseCoopers audited the financial results.
The Company earned 104,2 million Litas (37,9 million US dollars) net profit in the first quarter of 2004 under U.S. Generally Accepted Accounting Principles (US GAAP), compared to a 115,8 million Litas (36,0 million US dollars) net profit during the same period in 2003.
“That was a highly successful quarter for our Company due to very positive market tendencies, and the Mažeikių Nafta team had worked hard to capitalize upon those good market conditions”, said P. Nelson English, General Director of Mažeikių Nafta.
Маžeikių Nafta refined over 2.13 million metric tonnes of crude and other feedstock during the first three months of 2004, 370,000 metric tonnes more than in the same period last year.
The Butinge Terminal loaded 2.45 million metric tonnes of crude during the first quarter of 2004, compared to 2.71 million metric tonnes in the same period of 2003. The Terminal loaded 24 tankers from January through March 2004, compared to 27 tankers loaded in the same period of 2003.
The Birzai pipeline transhipped 5.31 million metric tonnes of crude and diesel during the first quarter of 2004, compared to 5.37 million metric tonnes in the same period a year ago.
Маžeikių Nafta collected and paid over 514,6 million Litas in taxes during the first three months of 2004, compared to 432,7 million Litas during the same period in 2003.
Mažeikių Nafta Trading House, a wholly owned subsidiary of Mažeikių Nafta, continued successful operations in its strategic markets.
Sales of gasoline, diesel and other products in the three months of 2004 amounted to 294 thousand metric tonnes in Lithuania, 130 thousand metric tonnes in Latvia, 76 thousand metric tonnes in Estonia and 86 thousand metric tonnes in Poland. Sales in its strategic markets in the same period a year ago were 282 thousand metric tonnes in Lithuania, 105 thousand metric tonnes in Latvia, 69 thousand metric tonnes in Estonia and 68 thousand metric tonnes in Poland
Over 1.3 million metric tonnes of products were exported via the Klaipeda seaport to Western Europe, the US, Canada and other parts of the world during the first quarter of 2004, up from 893 thousand metric tonnes in the first quarter of 2003.
Date: April 30, 2004
Contacts:
Giedrius Karsokas
AB Mažeikių Nafta
tel. +370 610 65298
fax +370 443 92579
giedrius.karsokas@nafta.lt