Published: 2019-03-29 15:11:59 CET
Lietuvos energijos gamyba, AB
Notification on material event

Lietuvos Energijos Gamyba preliminary financial results for 2 months of 2019

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 2 months of 2019:

 2 months of 20192 months of 2018Change
Sales revenueEUR 19.9 mEUR 21.4 m-7.0%
Adjusted EBITDA*EUR 9.5 mEUR 9.6 m-1.0%

Electricity produced in the power plants controlled by the Company:

 2 months of 20192 months of 2018Change
Elektrėnai Complex3.2 GWh0.0 GWh0.0%
Kruonis PSHP43.7 GWh83.0 GWh-47.3%
Kaunas A. Brazauskas’ HPP66.8 GWh86.2 GWh-22.5%

At the start of the year, production volumes in Kruonis PSHP have been negatively affected by a smaller difference between daily peak and night-time electricity prices in the market. Due to lower production in Kruonis PSHP, the total sales revenue of the Company decreased during the first 2 months of 2019 if compared to the same period in 2018.

The adjusted EBITDA of the Company during the first 2 months of 2019 (if compared to the same period in 2018) remained stable. The effect of lower production in Kruonis PSHP and decreased revenue from the secondary reserve services on EBITDA result has been compensated by the positive results of the stocked fuel oil sales and higher volumes of the regulated services provided in Elektrėnai complex.

Berta Jasiukenaite, Public relations project manager, +370 694 60771, berta.jasiukenaite@le.lt

* The Company’s preliminary adjusted EBITDA for 2019 and actual adjusted EBITDA for 2018 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.