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INTER RAO Lietuva Group announces financial results for 2021 – Higher amounts of electricity traded with a jump in revenues and increase of the net profit
- Electricity sales volume increased to 7 650 GWh in 2021 from 5 781 GWh in 2020 due to a sharp increase in the electricity market price and an increase in the overall electricity demand.
- Revenues from sales reached EUR 334.3 million, compared to EUR 163.4 million in 2020, because of increases in trading volumes and market prices of electricity.
- Group’s gross profit in 2021 reached EUR 42.7 million, compared to EUR 23.2 million in 2020.
- Operating profit increased to EUR 33.2 million versus EUR 12.0 million a year ago.
- Group’s net profit reached EUR 14.3 million, compared to EUR 12.2 million in 2020.
- Group’s EBITDA reached EUR 36.9 million, with the EBITDA margin at 11.0%.
- Electricity production at the Vydmantai wind farm decreased by 23.2% y/y due to much worse wind conditions in the area.
- Electricity trading volume in Poland increased to 2 398 GWh from 1 825 GWh in 2020.