EPSO-G Group's Impressive Financial Growth and Investments
Overview of EPSO-G's Financial Achievements
The New Energy Group EPSO-G has recently announced robust financial results reflecting its proactive strategies and investments. The company, known for its commitment to energy efficiency and sustainability, has reported significant increases in its adjusted EBITDA and net profit for the year.
Financial Performance Highlights
In the latest consolidated management report, EPSO-G reported an adjusted EBITDA of 73 million euros, marking a remarkable 23% increase compared to 59.2 million euros in the previous year. This impressive growth can be attributed to several factors including improved returns on investments sanctioned by regulatory bodies.
Alongside healthier EBITDA figures, the adjusted net profit soared by 56.4% to reach 41.9 million euros, up from 26.8 million euros in 2023. This uptick was largely driven by solid operational performance from its associated companies, TSO Holding and GET Baltic, which contributed to an enhanced financial status.
Investment Strategies
EPSO-G's total investment expenditure totaled 236.1 million euros, a slight decrease of 2.9% from the previous year. Of this, 96% was allocated towards key national projects, particularly through its subsidiary, Litgrid, aiming to enhance the electricity transmission infrastructure and support operations vital for future energy demands.
In maintaining its commitment to strategic development, the company plans to channel substantial resources into its New Energy Strategy 2035, which outlines investment targets of 7 to 9 billion euros over the next decade. This ambitious initiative is set to redefine the energy landscape and cement EPSO-G's position as a leader in the energy sector.
Recent Projects and Events
In an exciting development, EPSO-G launched its New Energy Strategy 2035 in late October, targeting innovative energy solutions and sustainability. This progressive approach further underscores the group’s commitment to secure energy resources that are both efficient and environmentally friendly.
Moreover, EPSO-G has entered a partnership with Rheinmetall, enabling the establishment of a new artillery ammunition plant. This collaboration not only signifies diversification into defense technology but also paves the way for employment opportunities within the sector.
Another notable achievement includes the Baltic States' operators ceasing the BRELL agreement with Russian and Belarusian TSOs, culminating in a successful electricity grid synchronisation with Continental Europe on February 9, 2025. This strategic move solidifies the energy independence of Baltic states and enhances regional energy security.
Commitment to Sustainability
EPSO-G’s dedication to environmental sustainability reflects its participation in the Science Based Targets initiative (SBTi). The group aims to curb greenhouse gas emissions by 30% from 2019 levels by 2026, affirming its role in the global effort against climate change.
The company recorded a 16% reduction in its Scope 1 and 2 emissions compared to the previous year, showcasing effective internal measures aimed at enhancing ecological responsibility.
Operational Metrics and Safety Indicators
In terms of operational effectiveness, EPSO-G reported an average interruption time of 1.04 minutes for its electrical grid. Impressively, this figure remains well within the reliability standards set by the National Energy Regulatory Council (NERC), showcasing their commitment to dependable energy distribution.
The past year also saw zero unplanned gas transmission interruptions due to operator accountability, reinforcing EPSO-G's reputation for reliability.
Key Financial Indicators for 2024
Below, we look at EPSO-G's essential financial indicators for the year:
- Revenue: 480.9 million euros (up from 478.9 million euros in 2023)
- EBITDA: 85.2 million euros (down from 101.3 million euros in 2023)
- Net Profit: 54.9 million euros (increased from 53.8 million euros in 2023)
- Investments: 236.1 million euros (decreased from 243.1 million euros in 2023)
- Adjusted EBITDA: 73.0 million euros (up from 59.2 million euros in 2023)
- Adjusted Net Profit: 41.9 million euros (up significantly from 26.8 million euros in 2023)
- Adjusted ROE: 12.5% (up from 10.0% in 2023)
EPSO-G continues to navigate the complexities of the energy sector with agility, ensuring that it remains at the forefront of economic and ecological advancements.
Frequently Asked Questions
What is EPSO-G Group known for?
EPSO-G Group is recognized for its substantial investments in energy transmission and innovative projects aimed at enhancing energy efficiency and sustainability.
How much did EPSO-G invest in the past year?
In the latest financial report, EPSO-G recorded total investments of 236.1 million euros.
What initiatives are part of the New Energy Strategy 2035?
The strategy aims at fostering innovation in the energy sector through substantial investments and sustainable energy practices over the next decade.
How is EPSO-G addressing sustainability?
EPSO-G is committed to reducing greenhouse gas emissions by participating in the Science Based Targets initiative and setting ambitious targets to lower emissions significantly.
What were the group's adjusted net profits for 2024?
The adjusted net profit for EPSO-G Group in 2024 was 41.9 million euros, reflecting a growth from the previous year's reports.
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