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Audited financial results

 

ESO key financial indicators (1) 2019  2018 (6) cHANGE +/- cHANGE  %
Revenue from contracts with customers (2) (EUR thousand) 413 144 463 048 -49 904 -10,8
Other income (2) (EUR thousand) 5 706 20 367 -14 661 -72,0
Purchase of electricity, gas and other related services (2) (EUR thousand) 186 098 282 498 -96 400 -34,1
Operating expenses (EUR thousand)  98 182 89 785 8 397 9,4
EBITDA (EUR thousand) 134 570 111 132 23 438 21,1
EBITDA margin (%) 32,13 22,99    
Adjusted EBITDA (3) (EUR thousand) 180 488 161 287 19 201 11,9
Net profit (loss) (4) (EUR thousand) 34 313 5 265 29 048 551,7
Free cash flow (EUR thousand) 6 804 -221 459 228 263 -103,1
  2019 12 31 2018 12 31 (6)    
Total assests (EUR thousand) 1 706 606 1 634 214 72 392 4,4
Equity (EUR thousand) 663 917 629 634 34 283 5,4
Financial debts (EUR thousand) 641 901 631 464 10 437 1,7
Net debt (EUR thousand) 637 126 629 198 7 928 1,3
Return on equity (ROE) (%) 5,31 0,85    
Return on assets (ROA) (%) 2,05 0,36    
Turnover of assets (5) 0,24 0,28    
Equity ratio (%) 38,90 38,53    
Net debt / EBITDA 12-months (times) 4,73 5,66    
Net debt / adjusted EBITDA 12-months  3,53 3,90    
Net debt / Equity (%) 95,96 99,93    

(1) Description of ESO’s indicators is available at: http://www.eso.lt/en/for-investors/alternative-performance-measures.html
(2)  As from 1 October 2018, ESO has discontinued the public electricity supply activity. Following elimination of the impact of discontinued public supply activities in the period January–December 2018 revenue amounted to EUR 409.6 million and the costs for the purchase of electricity, gas and related services – EUR 180.3 million.
(3) The Company adjusted the EBITDA by the difference between actual profit earned during the reporting and earlier periods and the allowable return on investments for the respective periods established by the National Energy Regulatory Council (hereinafter “the NERC”) and made a new customers income adjustment by eliminating new customers’ deffered income and restoring the net income effect of the new customers for the current year, as well as eliminated the impact of other atypical, one-time factors that are not directly attributable to the current period. The difference resulted from the operational efficiency improved by the Company, as well as other factors. More information about adjusted EBITDA is provided in the section “EBITDA” of the annual report for 2019 (https://www.nasdaqbaltic.com/market/upload/reports/eso1/2019_ar_en_eur_con_ias.pdf)
(4) The increase in the Company's net profit was driven by significantly lower prices for electricity, gas and related services as a result of discontinued public electricity supply activities as from 1 October 2018.
(5) Revenue from contracts with customers was used for the calculation of the ratio
(6) Comparative indicators were recalculated

 

Customer service
Gas emergency service