Ignitis Gamyba preliminary financial results for the 1st month 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.
The Company announces preliminary financial results for the 1st month of 2020:
| 1st month of 2020 | 1st month of 2019* | Change | |
| Revenue from contracts with customers | EUR 9.7 m | EUR 13.3 m | -26.8% |
| Adjusted EBITDA** | EUR 4.4 m | EUR 5.5 m | -20.3% |
Electricity produced in the power plants controlled by the Company:
| 1st month of 2020 | 1st month of 2019 | Change | |
| Elektrėnai Complex | 1.8 GWh | 0.0 GWh | - |
| Kruonis PSHP | 47.3 GWh | 32.7 GWh | 44.6% |
| Kaunas A. Brazauskas’ HPP | 25.9 GWh | 29.8 GWh | -13.0% |
Despite efficient use of Kruonis PSHP, the Company's revenue from contracts with customers and adjusted EBITDA for January 2020 were lower if compared to the same period of 2019. The deterioration of results was mainly caused by one-time transactions that positively contributed to revenue and EBITDA in January 2019 – sales of stocked fuel oil and scrap metal from decommissioned units in Elektrėnai Complex.
Successful operation of Kruonis PSHP significantly compensated falling revenue at Kaunas HPP that was caused by exceptionally low (declined by 45% compared to January 2019) prices of electricity.
* 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 2020 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.
Tadas Markevičius, Public Relations Manager, +370 676 28911,
