Energijos Skirstymo Operatorius AB, identification code 304151376, registered office placed at Aguonu str. 24, Vilnius, Republic of Lithuania. The total number of registered ordinary shares issued by company is 894 630 333; ISIN code LT0000130023.
Electricity and gas distribution company Energijos Skirstymo Operatorius, AB (hereinafter – ESO or the Company), which is a part of the largest Lithuania’s energy group Lietuvos Energija, UAB (hereinafter – Lietuvos Energija), during the third quarter of this year reached the best to date financial results. After merging of LESTO AB (hereinafter – LESTO) and joint stock company Lietuvos Dujos (hereinafter – Lietuvos Dujos) into ESO in the beginning of this year, operating expenses declined by 13% or almost EUR 11 million.
During January-September 2016 the net profit of ESO amounted to EUR 72.4 million – 11.1% more than during the same period of 2015 when LESTO and Lietuvos Dujos consolidated net profit amounted to EUR 65.2 million. Net profit increased due to increased revenue and reduced operating costs.
ESO revenue during nine months of 2016 amounted to EUR 478.778 million – 2.3% up compared to January-September in 2015, when it amounted to EUR 468 million. Revenue increased due to higher electricity and natural gas distribution volumes.
ESO operating expenses during three quarters of 2016 amounted EUR 71.6 million - 12.9% less compared to the same period of 2015, when it amounted EUR 82.2 million.
During nine months of 2016 year ESO allocated 6.6 billion kWh of electricity and 4.82 billion kWh of natural gas - respectively 5.06% and 5% more than during nine months of 2015.
"In the third quarter of this year we have achieved even more impressive results. The main reason, which led to even better financial indicators – increased positive effect of merged two companies synergy. ESO operational efficiency improvement is our strategic goal and it is an ongoing process. We share the return from efficiency with our customers by offering to them reliable, convenient and high quality services. Furthermore, reduction of our operating costs is our direct contribution to lower service prices for our customers,"- says Chairman of the Board and CEO Dalia Andrulionienė.
According to the head of the company, search of untapped potential of operational efficiency continues: “To that end our universal electricity and gas operative teams were put in action this autumn, and as soon as the beginning of the next year we will launch a Lean-principles based Operational Excellence Programme”.
During nine months of 2016 ESO investments in the electricity and gas distribution networks amounted to EUR 89.594 million – 10.5% more than during January-September in 2015. Major part of the investment – almost EUR 47.7 million – was assigned to the modernization of electricity distribution network.
During January-September of 2016 ESO EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) amounted to EUR 122.9 million – 9.2% more compared to the same period of 2015. EBITDA margin increased by 1.62% points and amounted 26.68%.
During nine months of 2016, electricity, natural gas purchase and related services costs made up EUR 284.3 million and, compared with the same period of 2015, increased by 4%. This was mainly influenced by increased electricity transport volumes, increased transmission cost and higher natural gas distribution volumes.
Significant impact on the electricity distribution network operation during nine months of 2016 had more frequent natural disasters, which resulted in very changeable weather, compared to the same period last year. The majority of natural phenomena that led to power outages in the network happened during June.
During nine months of 2016 with the influence of natural disasters (“force majeure”) the system average interruption duration index (SAIDI) per customer amounted to 144.34 minutes. This is 64.19 minutes more compared to the same period in 2015, when it amounted 80.15 minutes.
The system average interruption frequency index (SAIFI) with the influence of natural disasters per customer reached from 0.96 – 0.15 times more compared to 2015 January-September, when it was 0.81 times.
ESO shares are quoted on the Nasdaq Vilnius. The state-owned energy company Lietuvos Energija owns 94.98% ESO shares, remaining shares are traded on the stock exchange.
Representative for Public Relations Martynas Burba, tel. (8~5) 2514516.
