Published: 2018-11-30 15:40:11 CET
Ignitis grupė
Notification on material event

Preliminary financial data of Lietuvos Energija for 10 months of 2018

Lietuvos Energija, UAB, (hereinafter – the Company) identification code 301844044, registered office placed at Žvejų str. 14, Vilnius, Republic of Lithuania. The total nominal value of issued bonds 600 000 000 EUR; ISIN codes XS1646530565; XS1853999313.

Preliminary financial data of Lietuvos Energija for 8 months of 2018:

  October
  2018 2017 Change
Revenue EUR 104.5 million EUR 97.2 million 7.5 %
Adjusted EBITDA* EUR 12.3 million EUR 21.4 million -42.5 %
       
  January - October
  2018 2017 Change
Revenue EUR 1 000.6 million EUR 880.6 million  13.6 %
Adjusted EBITDA* EUR 187.3 million EUR 187.5 million   -0.1 %

In January-October 2018, Lietuvos Energija generated revenue of EUR 1 000.6 million, which is 13.6% more compared to a respective period of 2017 (EUR 880.6 million). The Group's revenue has grown due to the price change in the gas and electricity markets and higher demand for electricity and gas, with lower average air temperature at the beginning of the year compared to the same period last year. Also, income growth has been influenced by the Energijos Tiekimas subsidiary in Poland, which started operations at the end of 2017.

The adjusted EBITDA indicator of the Group in January-October 2018 was equal to EUR 187.3 million, i.e. 0.1% less compared to a respective period of 2017 (EUR 187.5 million). Better result from the electricity and gas distribution activities due to increased investment in renewal and modernization of distribution networks was outweighed by the lower results from the electricity trading activities. It was influenced by high electricity prices in the market. Increased demand for electricity with high electricity purchase prices, but fixed sales prices have negatively affected the EBITDA of this segment.
 
*The Company’s preliminary (2018) and actual (2017) result of adjusted EBITDA is presented after the adjustments made by the management by eliminating the impact of one-off factors. These adjustments are intended to disclose the results of the Company’s operating activity without taking into consideration atypical, one-off factors or factors that have no direct relation with the current period of operations. All adjustments made by the management are disclosed in the Company’s interim and annual reports.

More information: Head of Corporate Communications of Lietuvos Energija, Laura Šebekienė, +370 633 99940, laura.sebekiene@le.lt