Ignitis Gamyba preliminary financial results for 8 months of 2019
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.
The Company announces preliminary financial results for 8 months of 2019:
| 8 months of 2019 | 8 months of 2018* | Change | |
| Revenue from contracts with customers | EUR 92.4 m | EUR 87.1 m | 6.1% |
| Adjusted EBITDA** | EUR 38.6 m | EUR 33.8 m | 14.2% |
Electricity produced in the power plants controlled by the Company:
| 8 months of 2019 | 8 months of 2018 | Change | |
| Elektrėnai Complex | 9.6 GWh | 55.2 GWh | -82.6% |
| Kruonis PSHP | 339.7 GWh | 256.1 GWh | 32.6% |
| Kaunas A. Brazauskas’ HPP | 199.3 GWh | 266.2 GWh | -25.1% |
Due to positive results of the stocked fuel-oil sales and increased production volumes of Kruonis PSHP, the Company’s revenue from contracts with customers increased during January-August of 2019 if compared to the same period last year. Stocked fuel-oil sales and efficient use of Kruonis PSHP potential for stabilizing electricity prices in the market (due to increased difference between daily peak and night-time electricity prices) resulted in the increase of the Company's adjusted EBITDA for the 8 months of 2019.
Due to the hydrological drought and longer fish spawning period, production volumes of Kaunas HPP have been lower if compared to January-August of 2018. As in 2018, this year production volumes in Elektrenai Complex remained limited.
* Financial indicators of the Company for the year 2018 have been recalculated. Information about the changes is presented in the Company's interim financial information for the six-month period ended 30 June 2019.
** The Company’s preliminary adjusted EBITDA for 2019 and actual adjusted EBITDA for 2018 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
