Lietuvos energijos gamyba, AB - Notification on material event

Lietuvos Energijos Gamyba, AB, preliminary financial results for 8 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 8 months of 2017:

	8 months of 2017	8 months of 2016	Change
Sales revenue	EUR 85.1 mln	EUR 89.3 mln	-4.6%
EBITDA	EUR 34.8 mln	EUR 28.3 mln	+22.9%

  

Electricity produced at power plants controlled by the Company:

	8 months of 2017	8 months of 2016	Change
Elektrėnai Complex	104.2 GWh	220.4 GWh	-52.7%
Kruonis PSHP	343.6 GWh	351.2 GWh	-2.2%
Kaunas Algirdas Brazauskas’ HPP	289.5 GWh	240.9 GWh	+20.1%

  

Compared to 8 months of 2016, the Company’s sales revenue is lower due to a significant decrease in electricity production at Elektrėnai Complex and lower average selling price of electricity in the market. These negative effects were partly compensated by generating more electricity at Kaunas Algirdas Brazauskas’ Hydroelectric Power Plant.

The growth in EBITDA is mostly explained by the fact that in 2017 Company’s revenue from regulated activities was no longer affected by the regulation of commercial generation profits and results of the inspection of the Company’s activity in 2010-2012. Improved Company's profitability indicators were also influenced by higher production amounts at Kaunas Algirdas Brazauskas’ Hydroelectric Power Plant.

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