Ignitis Group grew in all segments in 2020
Ignitis Group grew in all segments in 2020 leading to 10% higher adjusted EBITDA than previously forecasted
AB “Ignitis grupė” (hereinafter – the Company) states that in 2020 adjusted EBITDA of the Company’s group of companies (hereinafter – Ignitis Group or the Group) reached EUR 291.6m and was approximately 10% higher than previously forecasted (EUR 265–269m).
Compared to adjusted EBITDA in 2019, which reached EUR 259.9m, last year it grew by a solid 12.2% – it was driven by increase in results across all Group segments. The main reasons of the positive change are continuous investments into network resilience, connection of new customers and capacity upgrades, consistent increase of Green Generation portfolio as well as effectively managed diversified assets portfolio, which allows to benefit from extraordinary market conditions. The latter reason resulted in effective utilisation of fluctuations in electricity and gas market prices, when Kruonis PSHP and combined cycle gas turbine of Elektrėnai Complex were utilised exceptionally efficiently, which resulted in higher-than-expected results for 2020.