Lietuvos energijos gamyba, AB: Lietuvos Energijos Gamyba, AB, preliminary financial results for 11 months of 2017

Elektrenai, Lithuania, 2017-12-29 15:02 CET (GLOBE NEWSWIRE) --
Lietuvos Energijos Gamyba, AB, company code 302648707, registered office at
Elektrines st. 21, Elektrenai (hereinafter referred to as the Company). The
total number of registered ordinary shares issued by the Company is 635 083
615, ISIN code - LT0000128571. 

The Company announces preliminary financial results for 11 months of 2017:

               11 months of 2017  11 months of 2016  Change
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Sales revenue    EUR 119.6 mln      EUR 134.6 mln    -11.2%
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EBITDA            EUR 48.9 mln       EUR 48.5 mln     +0.8%
-----------------------------------------------------------

 Electricity produced at power plants controlled by the Company:

                          11 months of 2017  11 months of 2016  Change
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Elektrenai Complex            138.1 GWh           433 GWh       -68.1%
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Kruonis PSHP                  505.5 GWh          488.8 GWh       +3.4%
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Kaunas A. Brazauskas HPP      408.7 GWh          318.7 GWh      +28.2%
----------------------------------------------------------------------

The production capacity in the Kaunas A. Brazauskas HPP increased by more than
a quarter in 11 months of 2017 compared to the result of 11 months of 2016, due
to the unusually rainy year. This helped to compensate decrease of the
Company's sales revenue, which occurred because of a decrease of electricity
production at Elektrenai Complex. 

More intense production in the hydroelectric power plant allows maintaining a
relatively stable EBITDA indicator of the Company despite higher costs of
dismantling of the old Elektrenai Complex units and decreased sales of the
activated secondary power reserve provided by Kruonis PSHP in 2017 compared to
2016. 

         Aušra Macerauske, Organizational Development Coordinator, tel. +370
655 70309, e-mail. [e-mail]