Customer service
Gas emergency service

Audited financial results

 

ESO key financial indicators 2018  2017 change +/- change  %
Sales revenue (EUR thousand)   624,044 612,309 11,735 1.9%
Purchase of electricity, gas and other related services (EUR thousand) 411,832 377,501 34,331 9.1%
Operating costs (1) (EUR thousand) 
89,785 94,728 -4,943 -5.2%
EBITDA (2), (EUR thousand) 122,427 140,08 -17,653 -12.6%
EBITDA margin (3) (%)
19.62 22.88    
Adjusted EBITDA*, (EUR thousand) 169,058 150,908 18,15 12.0%
Net profit (loss) (EUR thousand) 15,665 77,552 -61,887 -79.8%
  At 31/12/2018 At 31/12/2017    
Total assests (EUR thousand) 1,591,642 1,277,801 313,841 24.6%
Equity (EUR thousand) 640,034 607,644 32,39 5.3%
Financial debt (EUR thousand) 631,464 372,688 258,776 69.4%
Net financial debt (4) (EUR thousand) 629,198 366,239 262,959 71.8%
Return on equity (ROE) (5) (%) 2.51 12.60    
Return on assets (ROA) (6) (%) 1.09 6.49    
Equity capital level (7) (%) 40.21 47.55    
Net financial debt / EBITDA of 12 months (times) 5.14 2.61    
Net financial debt / Equity (%) 98.31 60.27    

 

(1) Operating expenses (OPEX) = operating expenses excluding costs attributable to purchase of electricity and related services, depreciation and amortisation, impairment and writeoff expenses;
(2) EBITDA (earnings before interest, taxes, depreciation and amortisation) = profit (loss) before tax + expenses of financing activities - income from financing activities - dividends received + depreciation and amortisation + impairment expenses + write-off expenses;
(3) EBITDA margin = EBITDA / revenue;
(4) Adjusted EBITDA is a key measure of the Company’s performance, eliminating the share of revenue, which the regulatory environment will require to be returned to consumers in the future, respectively adding income foregone in the reporting period related to profit from regulated activity generated in the previous year. This indicator allows for a more reliable comparison of the company's results over different periods of time and eliminates the discrepancies between actual and adjusted income and the impact of one-off factors.
(5) Borrowings, net = borrowings - cash and cash equivalents - short-term investments and term deposits – a portion of non-current other financial assets representing investments in debt securities;
(6) Return on equity (ROE) = net profit (loss) for the reporting period / average of equity at the beginning and at the end of the reporting period; 
(7) Return on assets (ROA) = net profit (loss) for the reporting period ⁄ average of assets at the beginning and at the end of the reporting period
(8) Equity ratio = equity at the end of the period / total assets at the end of the period.

* The Company adjusted EBITDA due to the difference between the actual profit and previous reporting periods profits, National Commission for Energy Control and Prices (hereinafter - the Commission) for the corresponding periods of permitted investment returns.

Customer service
Gas emergency service