29th Jun 2021 07:00
Preliminary financial data of Ignitis Group for 5 months of 2021Preliminary financial data of Ignitis Group (hereinafter – the Group) for 5 months of 2021:
| May | |||
| 2021 | 2020 | Change | |
| Revenue | EUR 113.4 million | EUR 82.0 million | 38.3 % |
| Adjusted EBITDA* | EUR 25.5 million | EUR 18.2 million | 40.1 % |
| January - May | |||
| 2021 | 2020 | Change | |
| Revenue | EUR 615.6 million | EUR 494.6 million | 24.5 % |
| Adjusted EBITDA* | EUR 144.6 million | EUR 115.3 million | 25.4 % |
In January – May 2021, the Group generated revenue of EUR 615.6 million, which is 24.5 % more compared to a respective period of 2020 (EUR 494.6 million). The results were driven by higher electricity volumes generated by the CCGT unit of the Flexible Generation segment, caused by positive spark spread. Additionally, Group's revenue increased as a result of higher electricity and gas sales to business customers in the Customers & Solutions business segment, as well as higher distributed volumes in the Networks segment. Both of these effects were mostly related to colder weather conditions in Q1 compared to the same period in 2020.
The adjusted EBITDA in January – May 2021 was equal to EUR 144.6 million, i.e. 25.4 % more compared to a respective period of 2020 (EUR 115.3 million). Adjusted EBITDA growth was driven by:
Better results from the Green Generation segment due to start of operations of Kaunas and Vilnius CHP’s in August 2020 and March 2021, respectively as well as improved result of Kaunas HPP due to higher electricity market price and higher produced volumes as a result of higher water level in Nemunas river;Flexible Generation segment growth driven by higher commercial activity in the CCGT unit due to positive spark spread;Higher distributed volumes in the Networks segment mostly due to colder weather conditions in Q1 compared to respective period of 2020. This effect will level off over the course of the year as annual ROI and compensated D&A is fixed for the year, but allocated between the months based on distributed volumes.\* The Group’s preliminary (2021) and actual (2020) 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 Group’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 Group’s interim and annual reports which are available at Group’s website (link).
For more information please contact:
Artūras Ketlerius Head of Public Relations at Ignitis Group [email protected] +370 620 76076
Related Shares:
Ab Ignitis. AAb Ignitis. S