Approval of the Baa1 credit rating for the EPSO-G group
According to the head of EPSO-G, Mantos Keizer, the approved Baa1 credit rating is important to achieve sustainable financing, which is one of the important preconditions for securing the financing of strategic energy projects and expanding the diversification of financing. in a period of intensive investment. .
“Last year, we successfully entered the capital market – we distributed the first issue of sustainability bonds in the Baltics. This step enables the diversification of EPSO-G’s funding portfolio, contributes significantly to ensuring greater reliability of transmission networks, implementing sustainability goals and reducing environmental impact,” said Mr. Keizer.
Last year, EPSO-G issued a bond issue linked to sustainable development and raised 75 million euros. euros. The company’s revenue last year amounted to 590 million. euros and was 63 percent. higher than that of 2021, when they had reached 363 million euros.
It should be noted that the results of the group of companies were significantly influenced by the development of international gas flows, as well as the rapid rise in energy prices after the start of the war in Ukraine – this led to a doubling to 637 million. increase in company group costs.
The performance of the group of companies was positively influenced by the successful work of gas and biofuel exchanges, the smooth completion and continuation of strategic infrastructure development projects. EPSO-G group investments in projects strengthening Lithuania’s energy independence last year amounted to 140 million. euros.
Due to rising costs, EPSO-G Group’s operating profit before tax, interest, depreciation and amortization (EBITDA) was negative last year and amounted to -11.3 million. euros. In 2021, EBITDA was 79.6 million. euros. The consolidated net loss of the group of companies in 2022 amounts to 42 million. euros, while in 2021 the group earned 39.8 million. Net profit in euros.
The group’s adjusted EBITDA, calculated after evaluating the correction of the results of the transport operators of the following years for the previous periods, the difference between the actual technological losses and the determined price and other factors, remained stable and increased reached 62.6 million. euros. Adjusted EBITDA for 2021 was 63.8 million. euros. The correspondingly adjusted net profit of the group of companies last year amounted to 21.3 million. euros, in 2021 it amounted to 26.7 million. euros.
Source: The Delfi
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