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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 12 months of 2020:
|
12 months of 2020 |
12 months of 2019* |
Change |
|
|
Revenue from contracts with customers |
EUR 172.4 m |
EUR 135.0 m |
27.7% |
|
Adjusted EBITDA** |
EUR 70.9 m |
EUR 54.0 m |
31.3% |
Electricity produced in the power plants controlled by the Company:
|
12 months of 2020 |
12 months of 2019 |
Change |
|
|
Elektrėnai Complex |
1201.0 GWh |
24.6 GWh |
4782.1% |
|
Kruonis PSHP |
717.4 GWh |
536.2 GWh |
33.8% |
|
Kaunas A. Brazauskas’ HPP |
226.3 GWh |
270.6 GWh |
-16.4% |
During the first 12 months of the year, the amount of electricity generated in the Company’s power plants increased by 157.9 percent, compared to January–December in 2019, in total 2 144.7 GWh.
The Company's revenue from contracts with customers increased 27.7 percent in 2020 in January-December if compared to the same period in 2019. 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.
The Company's adjusted EBITDA grew 31.3 percent in 2020 in January-December if compared to the same period in 2019. Adjusted EBITDA was positively influenced by effective use of Kruonis PSHP production that increased the production volume to record highs and its profitability, outweighing the negative effect of low prices and lower production at Kaunas HPP.
* 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.
More information:
Tadas Markevičius, Public Relations Manager, +370 676 28911, tadas.markevicius@ignitis.lt