Lietuvos Energijos Gamyba preliminary financial results for 11 months of 2018

The Company announces preliminary financial results for 11 months of 2018:                                                   11 months of 201811 months of 2017ChangeSales revenueEUR 116.3  mlnEUR 119.6 mln-2.8%Adjusted EBITDA*...

The Company announces preliminary financial results for 11 months of 2018:                                                  

	11 months of 2018	11 months of 2017	Change
Sales revenue	EUR 116.3  mln	EUR 119.6 mln	-2.8%
Adjusted EBITDA*	EUR 43.9 mln	EUR 48.9 mln	-10.2%

Electricity produced at power plants controlled by the Company:

	11 months of 2018	11 months of 2017	Change
Elektrėnai Complex	66.1 GWh	138.1 GWh	-52.1%
Kruonis PSHP	441.2 GWh	505.5 GWh	-12.7%
Kaunas A. Brazauskas HPP	322.4 GWh	408.7 GWh	-21.1%

Revenue of both Kruonis PSHP and Kaunas A. Brazauskas' HPP increased as a result of higher wholesale electricity prices in January – November 2018 compared to January – November 2017. But the Company generated less income from regulated activities (public interest services and tertiary power reserve) and production in Elektrėnai Complex, therefore total sales revenue of the Company slightly decreased.

The adjusted EBITDA of the Company in January – November 2018 compared to January – November 2017 decreased due to the decline in EBITDA of Elektrėnai Complex, which was determined by decreased scope of the provided regulated services and lower income received from these services. It was partly compensated by higher sales revenue of Kaunas A. Brazauskas' HPP and better result of commercial services provided by Kruonis PSHP.

* 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]