MAZEIKIAI — Маzeikiu Nafta reported its consolidated preliminary financial results for the first three months of 2005 to the Vilnius Stock Exchange.
The Company earned 195.428 million Litas (74.358 million US dollars) net profit in the first quarter of 2005 under International Financial Reporting Standards (IFRS).
“Our positive result is a combination of favourable market tendencies and our own efforts”, said P. Nelson English, General Director of Mazeikiu Nafta. “Refining margins were higher than expected, furthermore we have refined more crude this year that we did over the same period last year, and continued tight control over our expense budget”.
Маzeikiu Nafta refined almost 2.27 million metric tons of crude and other feedstock during the first three months of 2005, 135,000 metric tons more than in the same period last year.
The Butinge Terminal loaded 1 million metric tons of crude during the first quarter of 2005, compared to 2.45 million metric tons in the same period of 2004.
The pipeline system transshipped 4.44 million metric tons of crude and diesel during the first quarter of 2005, compared to 5.33 million metric tons in the same period a year ago.
Маzeikiu Nafta collected and paid over 581,4 million Litas in taxes during the first three months of 2005, compared to 511.9 million Litas during the same period in 2004.
Mazeikiu Nafta Trading House, a wholly owned subsidiary of Mazeikiu Nafta, continued successful operations in its strategic markets.
Sales of gasoline, diesel and other products in the three months of 2005 amounted to 345 thousand metric tons in Lithuania, almost 103 thousand metric tons in Latvia, 111 thousand metric tons in Estonia and 94 thousand metric tons in Poland. Sales in the strategic markets during the same period a year ago were 295 thousand metric tons in Lithuania, 131 thousand metric tons in Latvia, 79 thousand metric tons in Estonia and 85 thousand metric tons in Poland.
Over 1.41 million metric tons of products were exported via the Klaipeda seaport to Western Europe, the USA and other parts of the world during the first quarter of 2005, up from 1.34 million metric tons in the first quarter of 2004.
Date: April 29, 2004
Contacts:
Giedrius Karsokas
AB Mazeikiu Nafta
tel. +370 610 65298
fax +370 443 92579
giedrius.karsokas@nafta.lt