ESO preliminary financial results for 8 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 8 months of 2019:
| ||8 months of 2019||8 months of 2018||Change|
|Revenue ||EUR 343.7 million ||EUR 406.3 million || -15.4 % |
|Adjusted EBITDA* ||EUR 122.1 million||EUR 106.7 million|| 14.4%|
Revenue of the electricity and natural gas distribution company ESO totaled EUR 343.7 million in 8 months of 2019 and decreased by 15.4 % compared to the same period of 2018, when it was EUR 406.3 million. Excluding the influence of the public electricity supply activity, revenue of 8 months 2019 increased by 0.9% compared to the same period of 2018, when it comprised EUR 340.5 million.
The main reason of revenue increase – changes in revenue recognition from new customer connection due to requirements of IFRS 15 (International Financial Reporting Standards), as well as increased volumes of distributed electricity to Company’s clients by 0,3%.
During 8 months of 2019, ESO generated EUR 122.1 million in earnings before interest, taxes, depreciation and amortization (adjusted EBITDA*), which were 14.4 % higher compared to the same period of 2018, when this indicator totaled EUR 106.7 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.
Representative for Public Relations Tomas Kavaliauskas, email@example.com, tel. +370 617 51616.