Market announcement

Title

City Service consolidated results for the first half of 2016

Message

City Service announces its unaudited Consolidated Interim Financial Statements for the first half of 2016, prepared according to International Financial Reporting Standards.
Consolidated revenue of City Service for the first half of 2016 was EUR 83.9 million, an increase by 0.2% over EUR 83.7 million from continued operations for the first half of 2015.
Net profit for the period amounted to EUR 1.7 million, a 58% decrease over EUR 4.0 million net profit from continued operations a year ago. EBITDA for the first half of 2016 was EUR 4.5 million, a 8% decrease over EUR 4.9 million a year ago from continued operations.
In 2016, first half result of City Service Group is a direct projection of stable operations in Baltics, Russian and Polish markets, with no external influences, as in 2015. In 2015 first half result was atypical due to EUR 1.4 million gain from investments sale as well as EUR 0.3 million appreciation of Polish zloty and Russian ruble. In Spain, commercial property administration and cleaning sector still experiences unfavorable market conditions due to which operating loss increased further from 0.1 million EUR in the first half of 2015 to 1.1 million EUR for the current period.


Vilius Mackonis
Director of Marketing and Communication Department
+370 5 2394900