AB Amber Grid Consolidated Operating Results for the year of 2023

Source: www.gulfoilandgas.com 2/29/2024, Location: Not categorized

Amber Grid delivers consolidated results of the Group consisting of AB Amber Grid and UAB GET Baltic for the year of 2023 prepared according to the International Financial Reporting Standards:
- Revenue for the year 2023 EUR 82.2 million (the year 2022 EUR 98.2 million);
- Net profit for the year 2023 EUR 12.2 million (the year 2022 EUR 15.7 million);
- EBITDA (earnings before interest, taxes, depreciation and amortisation) for the year 2023 EUR 26.3 million (the year 2022 EUR 32.0 million);
- Average return on equity (ROE) for the year 2023 6.6% (the year 2022 8.7%).

Amber Grid (Company) adjusted financial indicators for the year 2023:
- Adjusted net profit for the year 2023 EUR 9.2 million (the year 2022 EUR 19.5 million);
- Adjusted EBITDA for the year 2023 EUR 24.7 million (the year 2022 EUR 35.0 million);
- Adjusted ROE for the year 2023 5.0% (the year 2022 10.8%).

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. Non-recurring transactions are also eliminated.

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