ESO preliminary financial results for 8 months of 2021

2021 September 30

Preliminary ESO financial data for 8 months of 2021:

 

8 months of 2021

8 months of 2020

Change

Revenue

EUR 348.5million

EUR 312.6million

11.5 %

Adjusted EBITDA*

EUR 143.6million

EUR 128.2 million

12.0 %

Revenue of the electricity and natural gas distribution company ESO preliminary totalled EUR 348.5 million in 8 months of 2021 and increased by 11.5 percent compared to the same period of 2020, when it was EUR 312.6 million.

Positive impact on the Company’s revenue compared to the previous reporting period had cooler weather conditions – distributed natural gas volumes increased by 26,7 per cent, electricity – by 9,0 per cent compared to the respective period of 2020.

During 8 months of 2021, ESO generated EUR 143.6 million in adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA*), which were 12.0 percent higher compared to the same period of 2020, when this indicator totalled EUR 128.2 million. This indicator was influenced mainly as a result of higher distributed volumes compared to respective period of 2020. This effect will level off over the course of the year as annual ROI and compensated D&A are fixed for the year but allocated between the months based on distributed volumes.

*The Company’s preliminary EBITDA are reported after the adjustments made by the management by eliminating deviations in actual and regulated income and the impact of one-off factors. These adjustments are made aiming to disclose the results of the Company’s operating activities after the elimination of the impact of atypical, one-off factors or factors that are not directly related to the current reporting period. All adjustments made by the management are disclosed in the Company’s interim and annual reports.

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