Inter RAO Lithuania sells less but operates at a profit

DELFI / Valdas Kopūstas

The Group’s gross profit increased by 42.3 percent, to EUR 21.4 million from EUR 15 million in January – September of 2014, and the gross profit margin was 15.62 percent against 9.57 percent a year ago, the Group reported.

Operating profit increased by 56.8 percent and reached EUR 16.3 million, against EUR 10.4 million in the same period of 2014.

The Group’s net profit increased by 65.9 percent to EUR 13.5 million from EUR 8.1 million in January – September of 2014. Increase in profit was due to the set of risk management policies, change in trading structure the Group undertook in a response to the uncertainties associated with technical limitations of interconnection links, further expansion and diversification of trading activities in all the countries and better results from sales of electricity generated in the wind park.

EBITDA increased to EUR 18.3 million, and EBITDA margin increased to 13.35 percent from 7.92 percent a year ago.

Inter RAO Lietuva Group’s electricity trading volume was 3 152 GWh, compared to 3 209 GWh in the same period of 2014.

Revenue from sales decreased to EUR 136.7million, compared to EUR 156.7 million in the first nine months of 2014 (12.8 percent) due to a lower amount of electricity traded in Lithuania and Latvia, facilitated by the continuous trend of historically low electricity prices in the market.

The electricity trading volume in Poland increased 10 times, from 20 GWh in the first nine month period of 2014 to 207 GWh in the same period of 2015.

The earnings per share increased to EUR 0.67 in January – September of 2015 against EUR 0.41 a year ago.

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