Correction: Preliminary financial data of Ignitis Group for 12 months of 2020
New third paragraph
Preliminary financial data of Ignitis Group (hereinafter – the Group) for 12 months of 2020:
| December | |||
| 2020 | 2019 | Change | |
| Revenue | EUR 143.2 million | EUR 100.9 million | 41.9 % |
| Adjusted EBITDA* | EUR 39.2 million | EUR 22.1 million | 77.4 % |
| January - December | |||
| 2020 | 2019 | Change | |
| Revenue | EUR 1,268.7 million | EUR 1,090.6 million | 16.3 % |
| Adjusted EBITDA* | EUR 293.5 million | EUR 259.6 million | 13.1 % |
In January – December 2020, the Group generated revenue of EUR 1,268.7 million, which is 16.3 per cent. more compared to a respective period of 2019 (EUR 1,090.6 million). The Group's revenue mainly increased as a result of higher revenue of the networks segment due to price of power distribution service, which is comprised of power transmission, distribution and public service obligations (PSO) components and higher revenue of CCGT unit in Elektrėnai complex of flexible generation segment.
The adjusted EBITDA indicator of the Group in January – December 2020 was equal to EUR 293.5 million, i.e. 13.1 per cent. more compared to a respective period of 2019 (EUR 259.6 million). The increase was driven by better result of networks segment due to growing value of regulated assets as a result of investments in the renewal of distribution networks, better result of CCGT unit in Elektrėnai complex of flexible generation segment and efficient use of Kruonis PSHP of green generation segment.
The preliminary adjusted EBITDA indicator of the Group is ~10% higher compared to management guidance (EUR 265-269 million) presented with the results of first nine months of 2020. The increase was driven by better than expected results of CCGT unit in Elektrėnai complex of flexible generation segment and Kruonis PSHP of green generation segment as well as better overall performance of Customers and Solutions segment.
The Company's annual financial statements are currently being audited and the final audited results may differ from the presented preliminary data. The Company plans to review and adjust the presentation of derivative financial instruments in the annual audited financial statements and this may affect revenue and expenses figures, however, it is not expected to have significant effect on adjusted EBITDA.
*The Company’s preliminary (2020) and actual (2019) 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 Company’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 Company’s interim and annual reports.
For more information please contact:
Artūras Ketlerius
Head of Public Relations at Ignitis Group
