Published: 2018-06-29 08:55:00 CEST
Lietuvos energijos gamyba, AB
Notification on material event

Lietuvos Energijos Gamyba preliminary financial results for 5 months of 2018

Lietuvos Energijos Gamyba, AB, company code 302648707, registered office at Elektrinės st. 21, Elektrėnai (hereinafter referred to as the Company). The total number of registered ordinary shares issued by the Company is 648 002 629, ISIN code – LT0000128571.

The Company announces preliminary financial results for 5 months of 2018:                                                  

  5 months of 2018    5 months of 2017    Change
Sales revenue EUR 51.6 mln EUR 52.3 mln -1.3%
Adjusted EBITDA*    EUR 24.2 mln EUR 23.0 mln +5.2%

Electricity produced at power plants controlled by the Company:

  5 months of 2018    5 months of 2017    Change
Elektrėnai Complex 7.8 GWh 53.3 GWh -85.4%
Kruonis PSHP 169.3 GWh 177.4 GWh -4.6%
Kaunas A. Brazauskas HPP    216.3 GWh 219.5 GWh -1.5%

Due to the start of the dry period in May, the production of electricity at Kaunas Algirdas Brazauskas’ Hydroelectric Power Plant decreased slightly. However, the revenue generated in this power plant, because of the higher electricity prices in the market, partially compensated the loss of revenue from the decrease in the income of regulated activities of the Elektrėnai Complex.

The higher sales revenue of Kaunas Algirdas Brazauskas’ Hydroelectric Power Plant and result of efficient operation and services provided by Kruonis Pumped Storage Hydroelectric Power Plant resulted in an increase in the Company's adjusted EBITDA.

* The Company’s preliminary adjusted EBITDA for 2018 and actual adjusted EBITDA for 2017 are reported after the adjustments made by management by eliminating the impact of one-off factors. These adjustments are made aiming to disclose the results of the Company’s operating activities after the elimination of the impact of non-typical, one-off factors or factors that are not directly related to the current reporting period. All adjustments made by management are disclosed in the Company’s interim and annual reports.

Valentas Neviera, Lietuvos Energijos Gamyba, AB, Head of Communication Division, mobile +370 670 25997, e-mail