Lietuvos energijos gamyba, AB - Notification on material event

Lietuvos Energijos Gamyba, AB, preliminary financial results for 11 months of 2017

Lietuvos Energijos Gamyba, AB, company code 302648707, registered office at Elektrinės st. 21, Elektrėnai (hereinafter referred to as the Company). The total number of registered ordinary shares issued by the Company is 635 083 615, ISIN code – LT0000128571.

The Company announces preliminary financial results for 11 months of 2017:

	11 months of 2017	11 months of 2016	Change
Sales revenue	EUR 119.6 mln	EUR 134.6 mln	-11.2%
EBITDA	EUR 48.9 mln	EUR 48.5 mln	+0.8%

 Electricity produced at power plants controlled by the Company:

	11 months of 2017	11 months of 2016	Change
Elektrėnai Complex	138.1 GWh	433 GWh	-68.1%
Kruonis PSHP	505.5 GWh	488.8 GWh	+3.4%
Kaunas A. Brazauskas HPP	408.7 GWh	318.7 GWh	+28.2%

The production capacity in the Kaunas A. Brazauskas HPP increased by more than a quarter in 11 months of 2017 compared to the result of 11 months of 2016, due to the unusually rainy year. This helped to compensate decrease of the Company’s sales revenue, which occurred because of a decrease of electricity production at Elektrėnai Complex.

More intense production in the hydroelectric power plant allows maintaining a relatively stable EBITDA indicator of the Company despite higher costs of dismantling of the old Elektrėnai Complex units and decreased sales of the activated secondary power reserve provided by Kruonis PSHP in 2017 compared to 2016.

         Aušra Mačerauskė, Organizational Development Coordinator, tel. +370 655 70309, e-mail. ausra.macerauske@le.lt