“Although the aggregate earnings declined, the combined losses of loss-making companies declined as well. Moreover, we saw an increase in the number of profit-making companies and a decline in the number of loss-making companies,” Vaidas Cibas, the head of the Regulated Market Supervision Division of the central bank, said in a press release.
According to the central bank’s data, 25 companies generated a combined net profit of 705.8 million litas (EUR 204.6m) and 7 companies suffered a combined loss of 101.7 million litas. Although the number of profit-making companies increased by one-fifth compared with the previous year, their combined net earnings shrank by 35 percent. The number of loss-making companies last year declined by approximately one-third from the previous year and their combined losses contracted by half.
Last year, 62.5 percent of listed companies (and 75 percent in the fourth quarter alone y/y) improved their performance, i.e. either increased their net earnings or reduced (eliminated) losses, compared with 2011.
The combined revenues of listed companies last year rose by 5 percent, to 14.3 billion litas.
