Energy, Lithuania

International Internet Magazine. Baltic States news & analytics Saturday, 04.07.2020, 04:53

Lithuania's Ignitis Group posts 1.4% drop in revenue to EUR 494.6 mln

BC, Vilnius, 01.07.2020.Print version
Lithuania'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.

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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