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INTER RAO Lietuva Group announces financial results for 2020 – Net profit of EUR 12 million despite lower volumes delivered and the sharp decrease in the electricity market price
- Electricity sales volume decreased to 5 781 GWh in 2020 versus 8 539 GWh in 2019 due to the sharp decrease in the electricity market price and the decrease in the overall electricity demand.
- Revenues from sales reached EUR 163.4 million, compared to EUR 317.0 million in 2019, because of lower amount of electricity sold.
- Group’s gross profit in 2020 was EUR 23.2 million, compared to EUR 24.5 million in 2019.
- Operating profit decreased to EUR 12.0 million versus EUR 15.2 million a year ago.
- Group’s net profit reached EUR 12.2 million, compared to EUR 17.6 million in 2019.
- Group’s EBITDA reached EUR 19.5 million, while the EBITDA margin increased to 12.0%.
- Electricity production at the Vydmantai wind farm increased by 14.7% y/y due to better wind conditions in the area.
- The electricity trading volume in Poland increased to 1 825 GWh from 1 558 GWh in 2019.