Published: 2018-12-28 15:25:31 CET
Ignitis grupė
Notification on material event

Preliminary financial data of Lietuvos Energija for 11 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 11 months of 2018:

  November
  2018 2017 Change
Revenue EUR 123.9 million EUR 102.6 million 20.8 %
Adjusted EBITDA* EUR 17.3 million EUR 23.5 million -26.4 %
       
  January - November
  2018 2017 Change
Revenue EUR 1 124.5 million EUR 983.2 million  14.4 %
Adjusted EBITDA* EUR 205.5 million EUR 211.0 million   -2.6 %

In January-November 2018, Lietuvos Energija generated revenue of EUR 1 124.5 million, which is 14.4% more compared to a respective period of 2017 (EUR 983.2 million). The Group's revenue has grown due to the price change in the gas and electricity markets. 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-November 2018 was equal to EUR 205.5 million, i.e. 2.6% less compared to a respective period of 2017 (EUR 211 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