KN Energies (formerly Klaipėda Nafta), whose shares are traded on the Vilnius Stock Exchange, presented the results of its last quarter. It turned out that the income decreased, the operating profit increased, and the net result was negative due to the increased costs of financial activity. Its shares are cheap today: KN Energies 0.235 (-1.67%) .
During the second quarter of this year, the income of the group reached 18.179 million. euros, or more than ten percent less than a year ago during the same period.
The operating profit of KN Energies during the mentioned period jumped by 39.3 percent to 1.732 million. euros, but the net result was negative, i.e. 1.132 million. net loss of EUR 1.501 million during the same period in 2023. EUR net profit, because from 1.456 to 3.489 million financial costs jumped by EUR.
In total, after the first half of this year, the income of this group reaches 42.614 million. euros, or one percent more than a year ago during the same period. Meanwhile, EBITDA profit jumped thirty percent to 21.7 million. EUR, and the net profit shrank from 8.1 to 1.459 million. euros. True, the adjusted net profit increased from 1.9 to 6.3 million. euros.
Since the beginning of this year, the market value of KN Energies has increased by over sixteen percent, and in the last one year – by 7.3 percent.
