Notification on material event
Ignitis Gamyba preliminary financial results for the 2 months of 2020
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 the 2 months of 2020:
| ||2 months of 2020||2 months of 2019*||Change|
|Revenue from contracts with customers||EUR 20.5 m||EUR 24.5 m||-16.2%|
|Adjusted EBITDA**||EUR 9.0 m||EUR 9.5 m||-5.6%|
Electricity produced in the power plants controlled by the Company:
| ||2 months of 2020||2 months of 2019||Change|
|Elektrėnai Complex||33.1 GWh||3.2 GWh|| 934.3%|
|Kruonis PSHP||112.1 GWh||43.7 GWh|| 156.5%|
|Kaunas A. Brazauskas’ HPP||51.4 GWh||66.8 GWh|| -23.0%|
Efficient operation of Kruonis PSHP helped to increase production volumes and profitability of Kruonis PSHP. That partially compensated negative effect of low electricity prices and lower production volumes by Kaunas HPP and one-time sales of stocked fuel oil that positively contributed to EBITDA of 2019.
Revenue from contracts with customers was mainly influenced by lower sales revenue of Kaunas HPP that was affected by decreased electricity prices in the market, lower production volumes by Kaunas HPP and one-time sales of stocked fuel oil that was one of the main factors of higher sales revenue in 2019.
* Financial indicators of the Company for the year 2019 have been recalculated. Information about the changes is presented in the Company's financial information for the year 2019.
** The Company’s preliminary adjusted EBITDA for 2020 and actual adjusted EBITDA for 2019 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.
Tadas Markevičius, Public Relations Manager, +370 676 28911, firstname.lastname@example.org