Preliminary financial data of Ignitis Group for 4 months of 2021
Preliminary financial data of Ignitis Group (hereinafter – the Group) for 4 months of 2021:
|Revenue||EUR 108.7 million||EUR 86.9 million||25.1 %|
|Adjusted EBITDA*||EUR 27.3 million||EUR 19.6 million||39.3 %|
January - April
|Revenue||EUR 502.1 million||EUR 412.6 million||21.7 %|
|Adjusted EBITDA*||EUR 119.2 million||EUR 97.1 million||18.5 %|
In January – April 2021, the Group generated revenue of EUR 502.1 million, which is 21.7 % more compared to a respective period of 2020 (EUR 412.6 million). The results were driven by higher electricity volumes generated by the CCGT unit of the Flexible Generation segment, caused by positive spark spread. Additionally, Group's revenue increased as a result of higher electricity sales to business customers in the Customers & Solutions business segment, as well as higher distributed volumes in the Networks segment. Both of these effects were mostly related to colder weather conditions compared to 2020.
The adjusted EBITDA in January – April 2021 was equal to EUR 119.2 million, i.e. 18.5 % more compared to a respective period of 2020 (EUR 97.1 million). Adjusted EBITDA growth was driven by:
- Better results from the Green Generation segment due to start of operations of Kaunas and Vilnius CHP’s in August 2020 and March 2021, respectively;
- Flexible Generation segment growth driven by higher commercial activity in the CCGT unit due to positive spark spread;
- Higher distributed volumes in the Networks segment due to colder weather conditions compared to respective period of 2020. This effect will level off over the course of the year as annual ROI and compensated D&A is fixed for the year, but allocated between the months based on distributed volumes.
*The Group’s preliminary (2021) and actual (2020) result of adjusted EBITDA is presented after the adjustments made by the management by eliminating the impact of one-off factors. These adjustments are intended to disclose the results of the Group’s operating activity without taking into consideration atypical, one-off factors or factors that have no direct relation with the current period of operations. All adjustments made by the management are disclosed in the Group’s interim and annual reports which are available at Group’s website (link).
For more information please contact:
Head of Public Relations at Ignitis Group
+370 620 76076