28 February 2018
Financial indicators of Lietuvos Energijos Gamyba of 2017 reflect successful efforts of the electricity producer, which is a part of Lietuvos Energija Group, to adapt to the changing market and to efficiently manage operating expenses. The Company managed achieving sustainable profitability indicators: the adjusted EBITDA of 2017 reached EUR 53.7 million, and adjusted EBITDA margin was 35.9 percent (36.8 percent in 2016)
“The results of 2017 were significantly affected by the volume of electric power generated and sold in Kaunas Algirdas Brazauskas’ Hydroelectric Power Plant, which increased by more than a quarter - last year was record both in terms of the amount of water and the generated electricity. Effectively exploiting market opportunities and being more actively engaged in intraday trading on the market, we also produced somewhat more electricity in the Kruonis Pumped Storage Power Plant compared to 2016. Changed market conditions resulted in lower electricity production in Elektrėnai Complex only. In 2017, we have ensured high availability and reliable operation of all power plants, responding to the needs of the market and the transmission system operator. Reliable contribution to stable operation of the energy system and its security is one of our most important goals”, Eglė Čiužaitė, Chair of the Board and Chief Executive Officer of Lietuvos Energijos Gamyba commented the performance and the results of the power plants of the Company.
A total of 1.147 TWh of electricity was generated in the power plants owned by the Company in 2017, which is 16 percent less than in 2016 (1.371 TWh). Elektrėnai Complex generated 0.139 TWh of electricity, or 71.8 percent less than in 2016 (0.491 TWh in 2016), Kruonis PSP - 0.549 TWh or 6 percent more than in 2016 (0.517 TWh in 2016), Kaunas A. Brazauskas’ HPP - 0.459 TWh or 26 percent more electricity than in 2016 (0.363 TWh in 2016).
Key indicators of Lietuvos Energijos Gamyba of 2017:
*The Company’s EBITDA results are reported after the adjustments made by management by eliminating the impact of one-off factors. 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 management are disclosed in the Company’s interim and annual reports.
Presentation of Company’s financial results for the year 2017 in the webinar hosted by Eglė Čiužaitė: link