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AB Ignitis Gamyba, company code 302648707, registered office at Elektrinės st. 21, Elektrėnai (hereinafter referred to as the Company).
The Company announces preliminary financial results for 10 months of 2020:
|
10 months of 2020 |
10 months of 2019* |
Change |
|
|
Revenue from contracts with customers |
EUR 133.5 m |
EUR 116.6 m |
14.5% |
|
Adjusted EBITDA** |
EUR 54.6 m |
EUR 46.8 m |
16.7% |
Electricity produced in the power plants controlled by the Company:
|
10 months of 2020 |
10 months of 2019 |
Change |
|
|
Elektrėnai Complex |
992.7 GWh |
23.0 GWh |
4216.1% |
|
Kruonis PSHP |
581.5 GWh |
475.7 GWh |
22.2% |
|
Kaunas A. Brazauskas’ HPP |
193.6 GWh |
230.9 GWh |
-16.1% |
During the first 10 months of the year, the amount of electricity generated in the Company’s power plants increased by 142.3 percent, compared to January–October in 2019, in total 1 767,9 GWh.
Increased production of Elektrėnai Complex and Kruonis PSHP helped to offset negative effect of low electricity prices and lower production volumes by Kaunas HPP that decreased due to a smaller inflow rate of the river Nemunas.
Adjusted EBITDA was positively influenced by strong performance of Kruonis PSHP production and effective use of Elektrėnai Complex. As the difference between electricity and gas prices increased, the negative effect of low prices and lower production at Kaunas HPP was outweighed.
When eliminated one-time sales of stocked fuel oil, the Company's revenue grew by 18.8 percent and adjusted EBITDA grew by 22.3 percent in 2020 in January-October if compared to the same period 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.