UAB Energy Investments Announces Annual Financials
UAB “Atsinaujinan?ios energetikos investicijos” has recently unveiled its audited consolidated and separate financial statements for the year 2024. This comprehensive report highlights the company’s financial standing and performance, reflecting its ongoing commitment to renewable energy infrastructure.
Key Financial Results
The main objective of the Company is to generate returns for investors by focusing on renewable energy facilities and associated assets. As of the end of the year, key financial metrics are as follows:
- UAB Energy Investments reported total assets amounting to EUR 189,795 thousand. Total equity reached EUR 100,476 thousand, while total liabilities stood at EUR 89,319 thousand.
- Investment assets at fair value through profit or loss were recorded at EUR 159,902 thousand, reflecting an 11.20% decrease compared to the previous year. This decline was influenced by the annual independent valuation of the Company’s shares, particularly impacting the valuation of solar assets in Poland.
- The Company experienced a comprehensive loss of EUR 14,824 thousand, primarily related to adverse changes in the fair value of its investment portfolio.
Performance Review and Strategic Developments
Several significant developments characterized the Company’s performance throughout the year:
- In December, UAB Energy Investments successfully completed the divestment of its 65.5 MW operational solar portfolio in Poland, marking a noteworthy milestone.
- The construction of PV Energy Projects sp. z o.o. is nearing its completion with a total capacity of 67.8 MW. Currently, 44.8 MW is operational, and the company anticipates the Commercial Operation Date (COD) in mid-2025.
- With regard to the PL SUN sp. z o.o. portfolio, which has a total capacity of 114.7 MW, construction is segmented into two phases. The first phase, comprising 66.6 MW, achieved substantial completion with plans to energize the remaining 40.2 MW by mid-2025.
- UAB Energy Investments holds a 25% stake in UAB Žaliosios investicijos, which manages a portfolio of 185.5 MW comprised of 34 wind turbines. New energy production licenses are anticipated in the upcoming quarters for various projects.
- The hybrid power plant project being developed by UAB Ekoelektra, featuring 100 MW of wind and 70 MW of solar, has received its development permit, with progress underway on the technical design project.
- For additional projects, including a significant solar PV initiative and further hybrid power plant developments, technical projects have been submitted for regulatory approval, marking essential next steps for project execution.
Shareholders' Meeting and Financial Approvals
In accordance with the Law on Companies of Lithuania, it is the responsibility of the General Shareholders’ meeting to approve the Company’s annual financial statements. Shareholders possess the authority to request new financial statements should they find the need.
The upcoming shareholders' meeting, scheduled for April, will focus on the approval of the Group’s and Company’s financial statements for 2024, as well as contemplate profit distribution proposals. Here’s a snapshot of the proposed allocations:
- Retained earnings at the beginning of the year amounted to EUR 31,450 thousand.
- The comprehensive income for the reporting period reflected a net loss of EUR 14,424 thousand.
- A small profit transfer to the legal reserve is proposed, ensuring compliance with financial regulations.
- The retained earnings at the end of the financial year align with a robust financial strategy, laying a foundation for future investments.
Contact Information for Inquiry
For any further insights or inquiries, interested parties can reach out to:
Mantas Auruškevi?ius
Manager of the Investment Company
Email: Mantas.Auruskevicius@lordslb.lt
Frequently Asked Questions
What are UAB Energy Investments' main financial results for 2024?
For 2024, the company reported total assets of EUR 189,795 thousand and a comprehensive loss of EUR 14,824 thousand.
What is the status of UAB Energy Investments’ projects?
The Company is nearing completion on various solar and hybrid power projects, with several initiatives in advanced stages of development.
How does the Company plan to handle profit distribution?
Profit distribution will be addressed in the upcoming shareholders' meeting, with shareholders reviewing the financial statements and proposals for allocation.
Who can shareholders contact for more information?
Shareholders can contact Mantas Auruškevi?ius, the Manager of the Investment Company, for detailed inquiries.
When is the shareholders' meeting scheduled?
The shareholders' meeting to approve the financial statements is set for April 2025.
