Ignitis Grupe

Earnings Release • Apr 29, 2021

National Storage Mechanism | Additional information

Preliminary financial data of Ignitis Group for 3 months of 2021

Preliminary financial data of Ignitis Group (hereinafter – the Group) for 3 months of 2021:

	March
	2021	2020	Change
Revenue	EUR 123.9 million	EUR 98.6 million	25.7 %
Adjusted EBITDA*	EUR 28.5 million	EUR 25.4 million	12.2 %
	January - March
	2021	2020	Change
Revenue	EUR 393.4 million	EUR 325.7 million	20.8 %
Adjusted EBITDA*	EUR 91.9 million	EUR 77.5 million	18.6 %

In January – March 2021, the Group generated revenue of EUR 393.4 million, which is 20.8 % more compared to a respective period of 2020 (EUR 325.7 million). Revenue increase was driven by higher revenue of the CCGT unit of Flexible Generation segment due to higher electricity volumes generated caused by positive spark spread. Also Group's revenue increased as a result of higher revenue from electricity sales to business customers in Customers & Solutions segment as well as higher revenue from electricity distribution due to higher distributed volumes in Networks segment. Both of these effects were mostly related to colder weather conditions compared to 2020.

The adjusted EBITDA in January – March 2021 was equal to EUR 91.9 million, i.e. 18.6 % more compared to a respective period of 2020 (EUR 77.5 million). Increase of adjusted EBITDA was driven by:

• Green Generation segment result increase due to start of operations of Kaunas and Vilnius CHP’s in August 2020 and March 2021, respectively;
• Flexible Generation segment growth due to better results from CCGT unit commercial activity due to positive spark spread;
• Networks segment growth mainly as a result of higher distributed volumes due to colder weather conditions compared to respective period of 2020. This effect will level off over the course of the year as annual ROI and compensated D&A is fixed for the year but allocated between the months based on distributed volumes.

*The Group’s preliminary (2021) and actual (2020) result of adjusted EBITDA is presented after the adjustments made by the management by eliminating the impact of one-off factors. These adjustments are intended to disclose the results of the Group’s operating activity without taking into consideration atypical, one-off factors or factors that have no direct relation with the current period of operations. All adjustments made by the management are disclosed in the Group’s interim and annual reports which are available at Group’s website (link).

For more information please contact:

Artūras Ketlerius

Head of Public Relations at Ignitis Group

arturas.ketlerius@ignitis.lt

+370 620 76076