AB Ignitis Gamyba, company code 302648707, registered office at Elektrinės st. 21, Elektrėnai (hereinafter referred to as the Company).

For 6 months of 2020, electricity produced in the power plants controlled by the Company was significantly higher:

6 months of 2020

6 months of 2019

Change

Elektrėnai Complex

346.1 GWh

9.6 GWh

3505.2%

Kruonis PSHP

324.9 GWh

168.6 GWh

92.7%

Kaunas A. Brazauskas' HPP

139.9 GWh

172.5 GWh

-18.9%

The Company announces preliminary financial results for 6 months of 2020:

6 months of 2020

6 months of 2019*

Change

Revenue from contracts with customers

EUR 67.4 m

EUR 66.2 m

1.8%

Adjusted EBITDA**

EUR 30.3 m

EUR 29.2 m

3.8%

During the first 6 months of 2020, generation facilities of the Company produced more than 2 times more electricity if compared to the same period in 2019. The biggest increase of production volumes was in Kruonis PSHP and Elektrėnai Complex (mainly due to more intense production by combined cycle unit), while Kaunas A. Brazauskas' HPP production volumes slightly decreased due to a smaller inflow rate of the river Nemunas.

The Company's revenue from contracts with customers increased 1.8 percent in 2020 in January-June if compared to the same period in 2019. Higher production volumes by Kruonis PSHP and Elektrėnai Complex compensated negative effect of low electricity prices and lower production volumes by Kaunas HPP.

When eliminated one-time sales of stocked fuel oil, the Company's revenue from contracts with customers grew 9.0 percent, while adjusted EBITDA grew 12.0 percent in 2020 in January-June if compared to the same period in 2019.

* Financial indicators of the Company for the year 2019 have been recalculated. Information about the changes is presented in the Company's financial information for the year 2019.

** The Company's preliminary adjusted EBITDA for 2020 and actual adjusted EBITDA for 2019 are reported after the adjustments made by the management by eliminating the impact of one-off factors, also considering the change in revenue (and, consequently, EBITDA) of the Company's regulated services. These adjustments are made aiming to disclose the results of the Company's operating activities after the elimination of the impact of non-typical, one-off factors or factors that are not directly related to the current reporting period. All adjustments made by the management are disclosed in the Company's interim and annual reports.

Tadas Markevičius, Public Relations Manager, +370 676 28911, tadas.markevicius@ignitis.lt

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Ignitis Gamyba AB published this content on 31 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2020 14:51:10 UTC