Latvijas Gāze group showed an outstanding performance in first quarter of 2021. Last year’s strategic decision by JSC “Latvijas Gāze” to defer injected underground storage inventory to 2021 boosted gross profit margin amid continuous natural gas price rise. Additionally, significantly colder temperature increased JSC “Latvijas Gāze” sales and utilization of JSC “Gaso” distribution network. The rally is observed almost in all commodities on the back of economic recovery and supply constraints. Despite the fact that JSC “Latvijas Gāze” benefited from natural gas price rise in the first quarter, continuous commodity rally will pose a challenge for the remaining part of the year.
The Group’s net turnover in the first quarter of 2021 was
During first quarter of 2021, JSC “Latvijas Gāze” sold 4 181 GWh of natural gas to customers in
The customer service centres of JSC “Latvijas Gāze” and JSC “Gaso” remain closed to visitors.
Latvijas Gāze group will publish its unaudited consolidated financial statements for the second quarter of 2021 on
*More detailed information on the alternative performance measures can be found on page 10 of the financial statements.
Additional information:
Romāns Tjurins
Vice President Finance
Phone: + (371) 67 369 139
E-mail: investor.relations@lg.lv
www.lg.lv
Attachment
- IFRS Latvijas Gāze Consolidated Unaudited 3 months 2021
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