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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 7 months of 2020:
|
7 months of 2020 |
7 months of 2019* |
Change |
|
|
Revenue from contracts with customers |
EUR 83.2 m |
EUR 78.9 m |
5.4% |
|
Adjusted EBITDA** |
EUR 35.0 m |
EUR 33.7 m |
3.9% |
Electricity produced in the power plants controlled by the Company:
|
7 months of 2020 |
7 months of 2019 |
Change |
|
|
Elektrėnai Complex |
511.8 GWh |
9.6 GWh |
5331.2% |
|
Kruonis PSHP |
389.1 GWh |
250.6 GWh |
55.2% |
|
Kaunas A. Brazauskas’ HPP |
154.7 GWh |
186.0 GWh |
-16.8% |
In January-July of 2020, the total amount of electricity produced by generation facilities of Ignitis Gamyba continued to grow mainly due to the higher production volumes in Kruonis PSHP and Elektrėnai Complex (especially due to intensive production of combined cycle unit (CCU). Boosted production at these facilities increased Company’s revenue despite the lower production volumes in Kaunas HPP due to the lower flow of Nemunas.
The Company's revenue from contracts with customers increased 5.4 percent and adjusted EBITDA grew 12.0 percent in 2020 in January-July if compared to the same period in 2019. The latter indicator was positively influenced by efficient operation of Kruonis PSHP, and that helped to compensate negative effect of low electricity prices and lower production volumes by Kaunas HPP.
When eliminated one-time sales of stocked fuel oil, the Company's revenue and adjusted EBITDA grew by 11.0 percent each in 2020 in January-July 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.