Lietuvos Energija UAB annual information for the year 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.
The Company publishes audited consolidated annual report and consolidated and company financial statements for the year ended 31 December 2018.
Key audited financial indicators of Lietuvos Energija Group for 2018:
- The Group’s revenue amounted to EUR 1.254 million, which is 13.9% more if compared to EUR 1.100 million earned during 2017;
- Operating expenses amounted to EUR 127.2 million, which is 3.6% (or almost EUR 5 million) less, compared to EUR 132 million during 2017. Lower operating expenses resulted from the improvement of operational efficiency;
- The Group‘s EBITDA decreased by 34% and totalled EUR 149.9 million. The Group’s adjusted EBITDA* decreased by 5.7% and totalled EUR 225.1 million, compared to EUR 238.7 million in 2017. The steady growth of the distribution activity results has been offset by the poorer performance of the electricity and gas trading activities, affected by increased market prices;
- The level of the return on equity ratio was equal to -0.6% compared to 7% in 2017. The level of the adjusted return on equity ratio was equal to 8.8% compared to 9.8% in 2017;
- The Group‘s net loss was EUR 7.9 million. The Group’s adjusted net profit amounted to EUR 116.4 million, which is 10.5% less compared to EUR 130.1 million during 2017;
- Investments amounted to EUR 411.3 million, which is 62.3% more compared to EUR 253.4 million during 2017. Investments were mainly allocated for the maintenance (30%) and development (20%) of the electricity distribution network, also investments have increased significantly due to investments in cogeneration plants’ projects in Vilnius and Kaunas (20% from total investments).
*The Group’s EBITDA and net profit is adjusted (1) by eliminating deviation between actual and regulated revenue, by which the Group‘s future financial results will be adjusted; (2) by eliminating gas price discount expenses that are related to the previous periods.
Arturas Ketlerius, Acting Head of Public Relations, mobile +370 620 76076, email email@example.com