Amber Grid Group Consolidated Operating Results for the 1st Quarter of 2023

Source: www.gulfoilandgas.com 5/5/2023, Location: Not categorized

AB Amber Grid, legal entity code: 303090867. Address: Laisves ave. 10, LT-04215 Vilnius, Lithuania.

Amber Grid delivers consolidated results of the Group consisting of AB Amber Grid and UAB GET Baltic for the 1st quarter of 2023 prepared according to the International Financial Reporting Standards:

Revenue for the 1st quarter of 2023 EUR 26.2 million (the 1st quarter of 2022 EUR 27.3 million);
Net profit for the 1st quarter of 2023 EUR 1.9 million (the 1st quarter of 2022 EUR 5.3 million);
EBITDA (earnings before interest, taxes, depreciation and amortisation) for the 1st quarter of 2023 EUR 6.3 million (the 1st quarter of 2022 EUR 9.5 million); Average return on equity (ROE) for the last 12 month as of 31 March 2023 6.7% (as of 31 March 2022 11.2%).

Amber Grid (Company) adjusted financial indicators for the 1st quarter of 2023:
Adjusted net profit for the 1st quarter of 2023 EUR 3.9 million (the 1st quarter of 2022 EUR 5.4 million);
Adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) for the 1st quarter of 2023 EUR 7.8 million (the 1st quarter of 2022 EUR 9.4 million);
Average return on equity (ROE) for the last 12 months as of 31 March 2023 9.8% (as of 31 March 2022 10.1%).

The adjustment of regulated income, costs and profitability indicators is carried out due to temporary regulatory difference from the regulated profitability approved by NERC. When calculating adjusted indicators, the correction of income is assessed due to previous periods, which is already approved by the decision of NERC in determining the regulated prices of transmission services for the reporting period. Also, the indicators are adjusted by the deviation of the NERC approved (regulated) and actual profitability of the reporting period, which NERC will evaluate when determining the transmission service prices for the coming period.





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