MAZEIKIAI—Маzeikiu Nafta reported its consolidated preliminary financial results for the nine months of 2003 to the Lithuanian Stock Exchange. Financial results were rewieved by company’s auditor PricewaterhouseCoopers.
Company earned 117.93 millions Litas net profit over the mentioned period in accordance with the US Generally Accepted Accounting Principles (US GAAP), compared to 174.8 millions Litas losses for the same period a year ago. Net profit for the third quarter of 2003 was 43.87 millions Litas, compared to 39.1 millions Litas loss during the same period of 2002.
According to the Lithuanian Accounting Principles (LAP) Mazeikiu Nafta posted a 188.6 millions Litas net profit for the nine months of 2003 compared to 269.4 millions Litas loss during nine months of 2002. LAP net profit for the third quarter of 2003 was 42.2 millions Litas, compared to a 59.9 millions Litas loss for the third quarter of 2002.
“Positive market trends, stable operations at Mazeikiai refinery along with high throughput volumes through the Butinge Terminal are the key factors for our success. Company continues stable operations and expects to end current financial year in net profit”, said P. Nelson English, General Director of Mazeikiu Nafta.
Маzeikiu Nafta refined over 4.96 millions metric tons of crude and other feedstock during the nine months, which is 240,000 metric tons more than in the same period last year.
The Butinge Terminal loaded 8.29 millions metric tons of crude during the three-quarters of 2003, compared to 3.85 millions metric tons in the same period of 2002. The Terminal loaded 81 tankers from January through September 2003 compared to 40 tankers loaded in the same period of 2002.
The Birzai pipeline transshipped 15.76 millions metric tons of crude and diesel during nine months, compared to 17.98 millions metric tons of crude during the same period a year ago.
Маzeikiu Nafta collected and paid over 1.55 billion Litas in taxes during the first nine months of 2003, compared to 1.3 billion Litas during the same period in 2002.
Date: October 31, 2003
AB Mazeikiu Nafta
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