Lietuvos Energija, UAB, (hereinafter – the Company) identification code 301844044, registered office placed at Žvejų str. 14, Vilnius, Republic of Lithuania. The total nominal value of issued bonds 600 000 000 EUR; ISIN codes XS1646530565; XS1853999313.
Lietuvos Energija recorded a tangible increase in its H1 2018 revenues and profit to a large extent due to the increased demand in electric energy and gas, as well as the change in the energy prices. If compared to the first six months of the previous year, the Group’s income increased by 16.1 per cent to EUR 626 million and the net profits increased by 12 per cent to reach EUR 58.3 million.
The Group’s adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) during the first half-year period was EUR 123.6 million, which represents a y-o-y increase by 2.8 per cent. The return on equity (ROE) ratio was recorded at 7.8 per cent.
Such Group’s results were determined to a large extent by increased demand in energy driven by different factors. Due to unusually low temperatures at the beginning of the year the Group’s companies sold more of natural gas and electric energy. However, the higher demand in electric energy and a decline in power generation from hydroelectric plants in Scandinavia drove the electricity prices up in addition to the higher gas prices due to the expired Gazprom discount effect.
“Although some price increase trends are observable in the international energy resources, the results of the Lietuvos Energija Group clearly showed that we are clearly able to cope with the new challenges and ensure the best results and benefit for Lithuania. The improving financial results allow the Group to seek the ambitious objectives prescribed in the LE 2030 strategy to invest in the Green generation, bring about innovations and ensure international development,” says Darius Maikštėnas, CEO and Chairman of the Board of Lietuvos Energija.
Key performance indicators of Lietuvos Energija Group for H1 2018.
- The Group's revenues increased by 16.1 per cent to reach EUR 626 million (EUR 539 million in H1 2017);
- The Group's operating costs increased by 0.4 per cent to reach EUR 61.5 million (EUR 61.2 million in H1 2017);
- The adjusted EBITDA was increasing 2.8 per cent up to EUR 123.6 million (EUR 120.2 million in H1 2017);
- The return on equity (ROE) ratio was recorded at 7.8 per cent (7 per cent in H1 2017);
- The Group’s net profit increased by 12 per cent to EUR 58.3 million (EUR 51.9 million in H1 2017);
- The Group's investment increased by 79.5 per cent to reach EUR 147.9 million (EUR 82.4 million in H1 2017). The largest share of investment was allocated to the upgrading of the distribution grid and the development of the co-generation plants.
More information: Laura Šebekienė, Corporate Communications project manager of Lietuvos Energija +370 633 99940, laura.sebekiene@le.lt
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