LITGRID Group results for the nine months of 2019
LITGRID AB, company code 302564383, registered office address A. Juozapavičiaus g. 13, Vilnius, Lithuania is publishing Group results for 9 months of 2019.
Revenue earned by the Litgrid group in the nine months of 2019 amounted to EUR 143.8 million, a 2.4 percent increase compared to same period of 2018. Litgrid revenue from electricity transmission increased by 5% up to EUR 51.1 million compared to 2018. Revenue from electricity transmission accounted for 36% of the Group’s total revenue.
The congestion revenues reached EUR 22.5 million (EUR 12.8 million more than in 2018). This amount will be invested in the Synchronization project and will not increase the electricity transmission tariff.
EBITDA in 9 months of 2019 amounted to EUR 16.6 million. Compared to 2018, EBITDA decreased by EUR 7.8 million or 32Į. The Group’s net profit in the first nine months of 2019 was EUR 0.4 million (in 2018 - EUR 2.7 million).
The main reasons for the lower Group's EBITDA is by EUR 3.4 million worse balancing of system services revenue and costs and by EUR 2.5 million lower revenue from connection of new producers/customers and equipment replacement.
Both international interconnections’ NordBalt and LitPol Link availability for the market results were consistent, as focus on maintenance and last year's warranty repair of NordBalt has paid off. The availability of the NordBalt link was 99,9 % , LitPol Link – 97.3 %.
During the nine months of year 2019 Litgrid continued to focus on Synchronization with Continental Europe networks: in cooperation with the Polish transmission system operator worked on preparation for building the subsea cable “Harmony Link”, continued line reconstruction and preparatory work for new airlines and substations.
The individual authorized by Litgrid AB to provide additional information:
Head of Communication Division
Phone: +370 613 19977