Energy, Lithuania
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Wednesday, 24.04.2024, 05:26
Lithuania's Ignitis Group posts 1.4% drop in revenue to EUR 494.6 mln
BC, Vilnius, 01.07.2020.
Print version
Print versionLithuania's state-owned energy group Ignitis Grupe (Ignitis Group) earned 494.6 mln euros in revenue in the first five months of this year, down 1.4% from 501.5 mln euros from the same period last year, the group said via the Nasdaq Vilnius Stock Exchange.
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The group's revenue decreased due to lower price of gas and
electricity sold to business customers and lower gas supply tariffs for
household customers.
The adjusted EBITDA indicator stood at 120.8 mln euros in
January-May, up 3.3% from 116.9 mln euros in the same period in 2019. It was
mostly the result of the growing value of regulated assets due to investments
in the renewal of distribution networks and efficient use of Kruonis PSHP.
The State of Lithuania owns 100% of Ignitis Grupe.
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