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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 9 months of 2020:
|
9 months of 2020 |
9 months of 2019* |
Change |
|
|
Revenue from contracts with customers |
EUR 119.3 m |
EUR 105.2 m |
13.4% |
|
Adjusted EBITDA** |
EUR 47.8 m |
EUR 42.9 m |
11.4% |
Electricity produced in the power plants controlled by the Company:
|
9 months of 2020 |
9 months of 2019 |
Change |
|
|
Elektrėnai Complex |
890.0 GWh |
17.9 GWh |
4872.1% |
|
Kruonis PSHP |
532.5 GWh |
419.8 GWh |
26.8% |
|
Kaunas A. Brazauskas’ HPP |
178.3 GWh |
212.7 GWh |
-16.2% |
The amount of electricity generated in the Company’s power plants increased by 146.1 percent, compared to January–September in 2019, in total 1 601 GWh. The combined-cycle unit (CCU) is contributing the most to the major growth – its production results in nine months of the last year exceeded the indexes 64 times (in total 873 GWh were generated during January–September 2020).
The Company’s revenue from contracts with customers increased by 13.4 percent and amounted to EUR 119.3 million in January-September 2020. This was mainly influenced due to higher electricity sales on the market.
In January-September 2020, the Company’s adjusted EBITDA increased by 11.4 percent, when compared to the same period in 2019. The Company’s adjusted EBITDA was growing because of effective use of Kruonis Pumped Storage Hydroelectric Plant and bigger generation in Elektrėnai Complex that compensated smaller generation volumes of Kaunas A. Brazauskas Power Plant due to a smaller inflow rate of the river Nemunas and the effect of sales of fuel oil and scrap metal that had improved results of 2019, when 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.