Lietuvos Energijos Gamyba preliminary financial results for 8 months of 2018

The Company announces preliminary financial results for 8 months of 2018: 8 months of 20188 months of 2017ChangeSales revenueEUR 81.8 mlnEUR 85.1 mln-3.9%Adjusted EBITDA*EUR 33.8 mlnEUR 34.8 mln-2.9%  ...

The Company announces preliminary financial results for 8 months of 2018:

	8 months of 2018	8 months of 2017	Change
Sales revenue	EUR 81.8 mln	EUR 85.1 mln	-3.9%
Adjusted EBITDA*	EUR 33.8 mln	EUR 34.8 mln	-2.9%

Electricity produced at power plants controlled by the Company:

	8 months of 2018	8 months of 2017	Change
Elektrėnai Complex	55.2 GWh	104.2 GWh	-47.0%
Kruonis PSHP	256.1 GWh	343.6 GWh	-25.5%
Kaunas A. Brazauskas HPP	266.2 GWh	289.5 GWh	-8.0%

The change in Company's revenue for January-August 2018, compared to January-August 2017, is mostly connected to the decrease of sales revenue of regulated activities of the Elektrėnai Complex (public services obligations and tertiary power reserve).

The Company's adjusted EBITDA changed in January-August 2018, compared to January-August 2017, due to the decrease of the amount of regulated activities of Elektrėnai Complex and its revenue. This effect was partially compensated by higher sales revenue of Kaunas Algirdas Brazauskas' Hydroelectric Power Plant and better result of system services provided by Kruonis Pumped Storage Hydroelectric Power Plant.

* The Company's preliminary adjusted EBITDA for 2018 and actual adjusted EBITDA for 2017 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.

Valentas Neviera, Lietuvos Energijos Gamyba, AB, Head of Communication Division, mobile +370 670 25997, e-mail [email protected]