Ignitis Gamyba preliminary financial results for 5 months of 2020
AB Ignitis Gamyba, company code 302648707, registered office at Elektrinės st. 21, Elektrėnai (hereinafter referred to as the Company). The total number of registered ordinary shares issued by the Company is 648 002 629, ISIN code – LT0000128571.
During the first 5 months of 2020, generation facilities of Ignitis Gamyba produced almost 2 times more electricity, and the production volumes in Elektrėnai Complex increased more than 17 times:
| || 5 months of 2020 || 5 months of 2019 || Change |
| Elektrėnai Complex || 166.2 GWh || 9.6 GWh || 1631.3% |
| Kruonis PSHP || 273.5 GWh || 115.7 GWh || 136.4% |
| Kaunas A. Brazauskas‘ HPP || 120.3 GWh || 155.7 GWh || -22.7% |
The Company announces preliminary financial results for 5 months of 2020:
| || 5 months of 2020 || 5 months of 2019* || Change |
| Revenue from contracts with customers || EUR 51.4 m. || EUR 55,4 m. || -7.2% |
| Adjusted EBITDA** || EUR 22.1 m. || EUR 23,7 m. || -6.8% |
Adjusted EBITDA of the Company was influenced positively mainly by the efficient utilization of Kruonis HPP opportunities, which increased the production volume of Kruonis HPP and compensated the negative effect of low prices and lower production volumes in Kaunas HPP. When eliminated one-time sales of stocked fuel oil that contributed to EBITDA of 2019, the Company's adjusted EBITDA grew by 3.0 percent in 2020 in January-May if compared to the same period in 2019.
When eliminated one-time revenue from sales of stocked fuel oil (EUR 4.3 m.) the Company's revenue if compared to the same period in 2019, even slightly increased. Lower sales revenue of Kaunas HPP and the lower production volumes of Kaunas HPP due to low market prices were compensated by the increased production in Kruonis HPP and Elektrėnai complex.
* 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.
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