In 2019 , the year of transformation, Ignitis Group improved its financial indicators

UAB Ignitis Grupė, (hereinafter – the Company) identification code 301844044, registered office placed at Žvejų str. 14, Vilnius, Republic of Lithuania. The total nominal value of issued bonds 600 000 000 EUR; ISIN codes XS1646530565; XS1853999313.

In 2019, international energy company Ignitis Group recorded growth of all key financial indicators.  The Group‘s revenue, net profit and EBITDA – all grew if compared to the year 2018.

Last year total revenue of Ignitis Group grew by 0.5% and amounted to EUR 1.095 billion. This growth was caused by higher revenue from energy distribution, green and strategic generation segments which counterbalanced decreased revenue share from the commercial organisation segment.

After eliminating regulatory effects, the Group’s adjusted EBITDA increased by 21.7% and totaled EUR 259 million, compared to EUR 212.8 million during 2018. EBITDA rate grew in all segments. Main reasons of this change were inceased number of new customers to the distribution network, continuous investments to distribution network and development of green energy.

The Group’s net profit in 2019 ammounted to EUR 60.9 million. which is EUR 82.4 million more compared to year 2018. Net profit was higher due to not received loss of regulated income in 2018 caused by the difference between the electricity rate determined by the regulatory authority for 2018, which was included in the public distribution service rate of 2018, and the actual market price; as well as by the impairment of assets recognised in 2018.

“2019 was a year of tremendous change and transformation. After the successful consolidation of our brands, we continued implementing our 2030 goals, as well as focused on sustainable and environmentally friendly development in the international market in order to ensure high customer service quality and efficiency.

Had it not been for the highest standards of governance and transparency, which are an integral part of the Group’s activities, the set goals would not have been achieved. We are excited to have them appraised in 2019 by the Governance Coordination Centre, where Ignitis Group was ranked as number one in the Good Corporate Governance Index published by this centre.

The development of green energy and the improvement of energy distribution quality and efficiency will remain our priority while further implementing ongoing and planning new projects“, says Darius Maikštėnas, CEO and Chairman of the Board of Ignitis Group.