ESO preliminary financial results for 6 month of 2019
Energijos Skirstymo Operatorius AB (hereinafter – ESO or the Company), identification code 304151376, registered office located at Aguonų g. 24, Vilnius, Republic of Lithuania. The total number of registered ordinary shares issued by the Company is 894 630 333; ISIN code LT0000130023.
Preliminary ESO financial data for 6 months of 2019:
| ||6 months of 2019||6 months of 2018||Change|
|Revenue ||EUR 263.2 million ||EUR 309 million || -14.8 % |
|Adjusted EBITDA* ||EUR 95.3 million||EUR 84.2 million|| 13.2%|
Revenue of the electricity and natural gas distribution company ESO totaled EUR 263.2 million in 6 months of 2019 and decreased by 14.8 % compared to the same period of 2018, when it was EUR 309 million. Excluding the influence of the public electricity supply activity, revenue would total EUR 258.5 million in 6 months of 2018. This would result in an increase of 1.8 % in 6 months 2019 compared to the same period of 2018.
The main reason of revenue increase – 17.5 % increased volumes of guaranteed electricity supply and almost doubled revenue from new customer connection due to changes of revenue recognition under IFRS 15 (International Financial Reporting Standards).
During 6 months of 2019, ESO generated EUR 95.3 million in earnings before interest, taxes, depreciation and amortization (adjusted EBITDA*), which were 13.2 % higher compared to the same period of 2018, when this indicator totaled EUR 84.2 million. The indicator increased due to efficient Company’s activity, growing regulatory asset base and increased revenue from new customer connection due to changes of International Financial Reporting Standards.
*The Company’s preliminary EBITDA are reported after the adjustments made by the management by eliminating deviations in actual and regulated income and the impact of one-off factors. These adjustments are made aiming to disclose the results of the Company’s operating activities after the elimination of the impact of atypical, 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.
Head of Public Relations Arturas Ketlerius, firstname.lastname@example.org, tel. +370 620 76076