Notification on material event
Preliminary financial results of UAB Ignitis Grupė for 8 months of 2019
UAB Ignitis Grupė (hereinafter – the Company or Ignitis Group) 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 Ignitis Group for 8 months of 2019:
|Revenue||EUR 126.4 million||EUR 102.6 million||23.2%|
|Adjusted EBITDA*||EUR 20.6 million||EUR 11.0 million||87.3%|
| || || || |
| ||January – August|
| ||2019 m.||2018 m.||Change|
|Revenue||EUR 1025.9 million||EUR 814.8 million||25.9%|
|Adjusted EBITDA*||EUR 174.3 million||EUR 153.6 million||13.5%|
In January-August 2019, Ignitis Group generated revenue of EUR 1025.9 million, which is 25.9% more if compared to the same period in 2018 (EUR 814.8 million). The Company's revenue has grown mostly due to the increase in the electricity trading turnover of UAB Ignitis subsidiary in Poland Geton Energy.
The adjusted EBITDA indicator of the Company in January-August 2019 was equal to EUR 174.3 million, i.e. 13.5% more compared to a respective period of 2018 (EUR 153.6 million). The adjusted EBITDA indicator has grown due to investments into modernisation of distribution networks that increased regulatory asset value. The growth of the adjusted EBITDA indicator was also influenced by the expanded Company's wind park portfolio.
*The Company’s preliminary (2019) and actual (2018) 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.
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