Ignitis Grupe

Earnings Release • May 27, 2021

National Storage Mechanism | Additional information

Preliminary financial data of Ignitis Group for 4 months of 2021

Preliminary financial data of Ignitis Group (hereinafter – the Group) for 4 months of 2021:

	April
	2021	2020	Change
Revenue	EUR 108.7 million	EUR 86.9 million	25.1 %
Adjusted EBITDA*	EUR 27.3 million	EUR 19.6 million	39.3 %
	January - April
	2021	2020	Change
Revenue	EUR 502.1 million	EUR 412.6 million	21.7 %
Adjusted EBITDA*	EUR 119.2 million	EUR 97.1 million	18.5 %

In January – April 2021, the Group generated revenue of EUR 502.1 million, which is 21.7 % more compared to a respective period of 2020 (EUR 412.6 million). The results were driven by higher electricity volumes generated by the CCGT unit of the Flexible Generation segment, caused by positive spark spread. Additionally, Group's revenue increased as a result of higher electricity sales to business customers in the Customers & Solutions business segment, as well as higher distributed volumes in the Networks segment. Both of these effects were mostly related to colder weather conditions compared to 2020.

The adjusted EBITDA in January – April 2021 was equal to EUR 119.2 million, i.e. 18.5 % more compared to a respective period of 2020 (EUR 97.1 million). Adjusted EBITDA growth was driven by:

• Better results from the Green Generation segment due to start of operations of Kaunas and Vilnius CHP’s in August 2020 and March 2021, respectively;
• Flexible Generation segment growth driven by higher commercial activity in the CCGT unit due to positive spark spread;
• Higher distributed volumes in the Networks segment 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