Published: 2019-12-31 15:01:00 CET
Ignitis gamyba
Notification on material event

Ignitis Gamyba preliminary financial results for 11 months of 2019

AB Ignitis Gamyba, 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 11 months of 2019:

  11 months of 2019 11 months of 2018* Change
Revenue from contracts with customers EUR 125.7 m EUR 124.8 m 0.7%
Adjusted EBITDA** EUR 50.3 m EUR 43.9 m 14.6%

Electricity produced in the power plants controlled by the Company:

  11 months of 2019 11 months of 2018 Change
Elektrėnai Complex 23.7 GWh 66.1 GWh  -64.2%
Kruonis PSHP 496.0 GWh 441.2 GWh  12.4%
Kaunas A. Brazauskas’ HPP 250.0 GWh 322.5 GWh  -22.5%

Efficient use of Kruonis PSHP and stocked fuel-oil sales resulted in 14.6% higher adjusted EBITDA of the Company's during January-November 2019 if compared to the same period of 2018.

Although production volumes of Kaunas HPP were lower, the Company's revenue for January-November 2019 remained stable, compared with the same period of 2018.

Production volumes of Kaunas HPP were lower for 11 months of 2019 if compared to January-November 2018 due to the hydrological drought and longer fish spawning period. As in 2018, this year's production volumes in Elektrenai Complex remained limited. 

* Financial indicators of the Company for the year 2018 have been recalculated. Information about the changes is presented in the Company's interim financial information for the six-month period ended 30 June 2019.

** The Company’s preliminary adjusted EBITDA for 2019 and actual adjusted EBITDA for 2018 are reported after the adjustments made by the management by eliminating the impact of one-off factors, also considering the change in revenue (and, consequently, EBITDA) of the Company's regulated services. 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 the management are disclosed in the Company’s interim and annual reports.

Head of Public Relations Artūras Ketlerius, email, mobile +370 620 76076