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Wednesday, 02.07.2025, 02:42
Elering’s net profit grew by 11.4 mln euros in Q1 2019
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Due to the
warm weather, revenue from the sale of power grid services fell by 1.2 mln
euros year-over-year in Q1. The warm weather conditions also reduced the volume
of gas network services.
On the
operating expenses side, expenditures on losses increased by 0.8 mln euros due
to the higher market price of electricity. All the electricity for compensating
losses is purchased by Elering on the
power exchange. In connection with new investments, depreciation grew by half a
mln euros. The company's financial expenses decreased by 2.2 mln euros in the
first quarter in connection with a successfully refinanced Eurobond in spring
2018.
Overall for
Q1, Elering earned an operating profit of 28.9 mln euros, compared to 19.7 mln
a year earlier.
Cash flow
from operating activity in Q1 was 45.9 mln euros. The company invested 22.1 mln
euros into assets and 1.7 mln euros was received in revenue from auctioning
cross-border transmission capacity. The company repaid 2.6 mln euros in loans.
Elering’s asset volume as at the end of March was 975.3
mln euros and equity was 413.2 mln euros.
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