Preliminary financial data of Ignitis Group for 2 months of 2021
Preliminary financial data of Ignitis Group (hereinafter – the Group) for 2 months of 2021:
|Revenue||EUR 137.1 million||EUR 115.5 million||18.7 %|
|Adjusted EBITDA*||EUR 29.0 million||EUR 23.6 million||22.9 %|
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January - February
|Revenue||EUR 269.5 million||EUR 227.0 million||18.7 %|
|Adjusted EBITDA*||EUR 63.4 million||EUR 52.1 million||21.7 %|
In January – February 2021, the Group generated revenue of EUR 269.5 million, which is 18.7 % more compared to a respective period of 2020 (EUR 227.0 million). Revenue increase was driven by higher revenue of the CCGT unit of Flexible Generation segment due to higher electricity volumes generated caused by favourable market conditions. Also Group's revenue increased as a result of higher revenue from electricity sales to business customers in Customers & Solutions segment as well as higher revenue from electricity distribution due to higher distributed volumes in Networks segment. Both of these effects were mostly related to colder weather conditions compared to 2020.
The adjusted EBITDA in January – February 2021 was equal to EUR 63.4 million, i.e. 21.7 % more compared to a respective period of 2020 (EUR 52.1 million). Adjusted EBITDA results grew in all of Group’s operating segments:
- Green Generation segment result increased as a result of Kaunas CHP activities as the plant was launched in August 2020;
- Flexible Generation segment grew due to better results from CCGT commercial activity due to favourable market conditions;
- Customers & Solutions segment result grew due to a successful transaction of LNG cargo sale in January by effectively exploiting price changes in the market;
- Networks segment grew as a result of higher distributed volumes of electricity due to colder weather conditions.
*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