Energia
Lietuvos Energijos Gamyba preliminary financial results for 11 months of 2018
The Company announces preliminary financial results for 11 months of 2018:
Electricity produced at power plants controlled by the Company:
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
valentas.neviera@le.lt
2321 Rosecrans Avenue. Suite 2200
90245 El Segundo Stati Uniti