Skip to main content

LITGRID Group results for the nine months of 2019

LITGRID AB, company code 302564383, registered office address A. Juozapavičiaus g. 13, Vilnius, Lithuania is publishing Group results for 9 months of 2019.Revenue earned by the Litgrid group in the nine months of 2019 amounted to EUR 143.8 million, a 2.4 percent increase compared to same period of 2018. Litgrid revenue from electricity transmission increased by 5% up to EUR 51.1 million compared to 2018. Revenue from electricity transmission accounted for 36% of the Group’s total revenue.The congestion revenues reached EUR 22.5 million (EUR 12.8 million more than in 2018). This amount will be invested in the Synchronization project and will not increase the electricity transmission tariff.EBITDA in  9 months of 2019 amounted to EUR 16.6 million. Compared to 2018,  EBITDA decreased by EUR 7.8 million or 32Į. The Group’s net profit in the first nine months of 2019 was EUR 0.4 million (in 2018 – EUR 2.7 million). The main reasons for the lower Group’s EBITDA is by EUR 3.4 million worse balancing of system services revenue and costs and by EUR 2.5 million lower revenue from connection of new producers/customers and equipment replacement.Both international interconnections’ NordBalt and LitPol Link availability for the market results were consistent, as focus on maintenance and last year’s warranty repair of NordBalt has paid off. The availability of the NordBalt link was 99,9 % , LitPol Link – 97.3 %.During the nine months of year 2019 Litgrid continued to focus on Synchronization with Continental Europe networks: in cooperation with the Polish transmission system operator worked on preparation for building the subsea cable “Harmony Link”, continued line reconstruction and preparatory work for new airlines and substations.The individual authorized by Litgrid AB to provide additional information:Jurga Eivaitė
Head of Communication Division
 Phone: +370 613 19977
 e-mail: jurga.eivaite@litgrid.eu
AttachmentLG FA Q3 2019 ENG

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.