Energijos Skirstymo Operatorius AB (hereinafter - ESO, the Company), identification code 304151376, registered office placed at Aguonu str. 24, Vilnius, Republic of Lithuania. The total number of registered ordinary shares issued by company is 894 630 333; ISIN code LT0000130023.
On 30th March, 2018 during the Ordinary General Meeting of ESO Shareholders the Company's audited Annual Financial Statements and Annual report has been approved.
Electricity and gas distribution company Energijos Skirstymo Operatorius (ESO), which is a part of the largest Lithuania's energy group Lietuvos Energija, during the second year of operation has significantly increased - up to 51.6 percent - investments into gas and electricity distribution network modernisation and development. Continuously reduced costs and more efficient activity has contributed to reduced prices for customers - natural gas distribution and electricity prices has declined for a several years in a row.
"The second year of the company's operations was primarily the year of the modernisation and investment into distribution networks. By upgrading the electricity network, we have built over 2300 kilometres of underground cables, we have further developed smart network tools that provide a more reliable, safer and more modern energy supply for both private and corporate customer,"- says Chairman of the Board and CEO Dalia Andrulioniene.
According to her, the second year of company's activities can be called the year of customer service improvement. More and more people are choosing to communicate online, last year an interactive map of power cuts was created, in which real-time power supply disruptions and a new cuts can be registered. The provision of information to the public by SMS and e-mail was also improved. The free electrical disruptions registration number 1852 was delivered. In addition to the regular services, new ones have been introduced - electric and gas internal network installation, "Electrician to the house", "Gasman to the house", various colour electric accounting cabinets and infrastructure rent.
ESO revenue last year amounted to EUR 612.3 million and was 5.8 percent lower than in 2016, when it reached EUR 650.1 million. Revenue have decreased due to lower electricity and gas prices for customers.
Net profit in 2017 amounted to EUR 77.6 million and was 16.2 percent lower than before when it was 92.5 EUR million. The decrease in net profit was driven by lower income.
Corrected EBIDTA* last year was EUR 150,9 million and by 8.6 percent exceeded the results of 2016. The increase was driven by more efficient company's activity and increased investment in network modernisation and development.
The company's operating costs in 2017 amounted to EUR 94.7 million - 3.9 per cent less than in 2016, when it was EUR 98.6 million.
In the second year of operation, the company invested EUR 226.2 million in electricity and gas distribution networks - 51.6 percent more than before, when EUR 149.2 million were allocated to modernisation and development. The largest share of investments was made to upgrade the electricity distribution network.
Significant influence on the operation of the electricity distribution network last year was due to the more frequent natural phenomena caused by changing weather. The system average interruption frequency index (SAIFI) with the effect of "force majeure" last year stood at 1.32 times and slightly changed since last year when it reached 1.25 times.
With the influence of natural disasters ("force majeure") the system average interruption duration index (SAIDI) amounted to 2017 reached 137.8 minutes per customer and, compared to 2016, it decreased by 35.1 minutes (in 2016 SAIDI was 172.9 min.) A significantly shorter indicator has been triggered by faster troubleshooting.
ESO shares are quoted on the Nasdaq Vilnius. The state-owned energy company Lietuvos Energija owns 94.98% ESO shares, remaining shares are traded on the stock exchange.
*The Company's preliminary EBITDA are reported after the adjustments made by management by eliminating the impact of one-off factors. These adjustments are made aiming to disclose the results of the Company's operating activities after the elimination of the impact of non-typical, one-off factors or factors that are not directly related to the current reporting period. All adjustments made by management are disclosed in the Company's interim and annual reports.
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Representative for Public Relations Akvile Adomaityte, akvile.adomaityte@eso.lt, tel. +370 684 12130.
