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Litgrid announces interim activity results for 2011

In 2011, Litgrid group reported LTL 434.8 million in revenue. Electricity transmission services generated the major part of the total group revenue (47%). In 2011, the amount of electricity transmitted by the transmission system operator Litgrid AB for domestic needs via high-voltage electricity grids was 9.28 billion kWh, or 0.2% more than the previous year. 8.16 billion kWh, or 0.4% less than in 2010, was transmitted to distribution network operator Lesto AB, while electricity transmission to the other consumers totalled 1.12 billion kWh (an increase of 5.2%).

In 2011, EBITDA of Litgrid group reached LTL 109.6 million and the EBITDA margin stood at 25%. Litgrid group net loss for 2011 totalled LTL 18.5 million. The loss is mainly attributed to the fact that electricity transmission grid depreciation and amortisation costs in the financial statements (LTL 132.5 million in 2011) significantly exceeded depreciation and amortisation costs as estimated when adjusting the transmission tariff (LTL 53.7 million).

In 2011, investments of the transmission system operator Litgrid totalled LTL 159.9 million, the major part of which (59%) was earmarked for the implementation of the strategic projects and the remaining investment allocated for the reconstruction and development of the national transmission grid.

Litgrid is implementing national strategic electricity projects, including international electricity interconnections NordBalt (Lithuania-Sweden) and LitPol Link (Lithuania-Poland), and is responsible for the national energy system’s full-fledged integration into the continental European net and the common European energy market.
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