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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 the 9 months of 2021:
|
9 months of 2021 |
9 months of 2020* |
Change |
|
|
Revenue from contracts with customers |
EUR 180.4 m |
EUR 121.2 m |
48.8% |
|
Adjusted EBITDA** |
EUR 54.8 m |
EUR 47.8 m |
14.6% |
Electricity produced in the power plants controlled by the Company:
|
9 months of 2021 |
9 months of 2020 |
Change |
|
|
Elektrėnai Complex |
729.7 GWh |
890.1 GWh |
-18.0% |
|
Kruonis PSHP |
441.5 GWh |
532.5 GWh |
-17.1% |
|
Kaunas A. Brazauskas’ HPP |
214.4 GWh |
178.3 GWh |
20.2% |
The amount of electricity generated in the Company’s power plants during the first 9 months of 2021 totalled 1,385.7 GWh, a 13.4% decrease compared to January–September 2020. The decrease in production volumes in the Elektrėnai complex and Kruonis PSHP was determined by less favourable electricity market conditions. The decrease in production volumes of the Elektrėnai complex was also significantly influenced by the increased price of gas and emission allowances (ETS).
In the comparable period, the Company's revenue from contracts with customers grew by 48.8%, and adjusted EBITDA – by 14.6%. These indicators increased mainly due to an increase in electricity production volumes at Kaunas HPP, higher profitability of Kruonis PSHP and Kaunas HPP due to increased electricity prices.
* Company’s 2020 revenues were recalculated according to the contracts with the customers. Information about recalculations is provided in the financial reports of the Company.
**The Company’s preliminary adjusted EBITDA for 2021 and actual adjusted EBITDA for 2020 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.