EPSO-G’s revenue for the first nine months of 2021 amounted to EUR 228.3 million. This represents an increase of 15.4% compared to EUR 197.8 million in the same period last year. The Group’s successful performance is driven by a growing volume of electricity and gas transmitted to Lithuanian residents and organisations, the successful operation of the gas and biofuel exchanges operated by the Group’s companies and the smooth implementation of strategic infrastructure development projects.
Many of the Group’s key performance indicators grew significantly: this year, the volume of electricity transmitted grew by 9% to 8 terawatt-hours (TWh), while natural gas exchange turnover increased by almost a third to 5.9 TWh. The volume of biofuels traded on the Energy Exchange amounted to 3.7 TWh in the first 9 months of the year. This year, 18.5 TWh of gas was supplied to fulfil Lithuania’s needs, or 5% more than at the same time last year, when Lithuania’s demand amounted to 17.7 TWh. A total of 20.2 TWh of natural gas was transported to consumers in Lithuania, the Baltic region and Finland this year, excluding gas transport to the Kaliningrad region. This is a quarter or 25.8% less than the same time in 2020.
During January–September, the net profit of EPSO-G Group amounted to nearly EUR 32.9 million; thus, it increased by 9% compared to the same period last year (EUR 30.3 million). The Group’s EBITDA grew to EUR 62.1 million and was 12% higher than in the same period in 2020 (EUR 55.6 million).
The investments of the EPSO-G Group, which implements the country’s strategic energy infrastructure projects, amounted to EUR 65.6 million in the first nine months of the year. Group’s company Amber Grid invested EUR 37.3 million in the gas transmission system this year, and Litgrid’s investments amounted to EUR 27.8 million this year.
“Following the presentation of the Group’s updated long-term strategy up to 2030 in August, we are successfully developing the Group’s core business and the implementation of the country’s strategic energy infrastructure projects. At the end of the summer, the installation of the Physical Barrier along the border with Belarus became a priority project for EPSO-G and its subsidiary Tetas. We have mobilised the best specialists from the Group and other companies in the country for the implementation of this project, which is of great importance for Lithuania as a whole, and we are completing the project within the set deadlines,” said CEO of EPSO-G Rolandas Zukas, commenting on the results of EPSO-G for the first nine months of performance.
In August, the Government of the Republic of Lithuania decided that EPSO-G will be the contractor of the Physical Barrier across the border with Belarus, as it has the necessary resources for the implementation of this project, the experience in the installation of complex infrastructure objects and the capacity to manage the risks associated with the implementation of this type of projects. In September, EPSO-G signed a contract with its subsidiary Tetas for the first phase of the Physical Barrier at the Belarusian border at key border crossings, and plans to finalise the procurement procedures for the second phase by the end of November.
In August, EPSO-G also presented the Group’s strategy up to 2030, which was developed in line with the expectations of its shareholder. As part of the new strategy, the Group plans to invest around EUR 1.8 billion by 2030.
The trading volumes of Amber Grid’s subsidiary GET Baltic, a gas exchange operating in Lithuania, Latvia, Estonia and Finland, increased to 5.9 TWh in the first 9 months of the year. Compared to the same period in 2020, trade turnover increased by almost 27%. The increase in trading volumes mainly accounted for colder than normal weather at the start of the year and an increase in electricity generation.
During the first nine months of this year, in the Baltpool Biomass Exchange, more than 5.3 thousand transactions were concluded, worth up to EUR 52.3 million. 3.9 GWh of heat was traded in the company’s heat auction data management system and 2.1 thousand transactions for 892,000 m3 of timber were made in the electronic timber sales system.
Company Energy cells, established in January of this year, is successfully implementing the project of energy storage systems. In October, the company signed a contract with Siemens Energy and Fluence, which will work in a joint deployment, for the design, manufacture and installation of a facilities system of 200 megawatts (MW) and 200 megawatt-hours (MWh) of capacity and for the maintenance of the system.
This year, EPSO-G is continuing its activities of research and innovations seeking to ensure a rapid transition to renewable energies and green transformation in various country’s economic sectors.
As of 30 September data, 1,174 employees worked in the Group.