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On 23 May 2023, the Supervisory Board of AB “Ignitis grupė” (hereinafter – the Company) approved strategic long-term targets (hereinafter – Targets) and performance objectives for 2023–2026 and criteria for assessing the achievement of these Targets. The Targets are linked to the 4-year targets that are set out in the Group’s strategic plans, with a major focus on increasing shareholder return and expanding commercial green generation: Strategic priorityObjective WeightEntry (70%)Target (100%)(e
On 23 May 2023 the Supervisory Board of AB “Ignitis grupė” (hereinafter – the Group) approved the updated strategy and Strategic plan 2023–2026 of the Group. In the updated strategy, the Group is reinforcing its commitments towards Europe’s decarbonisation and regional energy security. Our strategy also reflects more ambitious Green Generation targets. The Group's purpose The updated strategy introduces the updated purpose of the Group, which is creating a 100% green and secure energy ecosystem
AB “Ignitis grupė” (hereinafter – the Group) publishes its first three months 2023 interim report, which is attached to this notice, and announces that the Group’s YoY Adjusted EBITDA increased by 34.6% and amounted to EUR 149.9 million. This was mainly driven by the Reserve Capacities segment, where the Group utilised an option to earn additional return in the market on top of the regulated return by fixing positive forward clean spark spread. Customers & Solutions segment result, which turned
AB “Ignitis grupė” (hereinafter – the Group) informs that on 11 May 2023 it received a letter of expectations (hereinafter – the Letter of Expectations) from the Ministry of Finance of the Republic of Lithuania, which owns 74.99% of the Group's shares (hereinafter – the Majority Shareholder), where it expresses its expectations regarding the continuity of the Group's strategic objectives. The Letter of Expectations was updated in the light of the geopolitical situation and a growing need to prio
AB „Ignitis grupė" (hereinafter – the Group) will release its results for the first three months of 2023 as well as Strategy update and Strategic plan 2023–2026 on Tuesday, 23 May 2023. It will be followed by presentation for investors and analysts to be held on the same day at 1:00 pm Vilnius / 11:00 am London time. To join the presentation, please register at: https://edge.media-server.com/mmc/p/jhwy9zy7 It will be also possible to join the presentation by phone. To access the dial-in details
AB “Ignitis grupė” (hereinafter – the Group) informs that on 2 May April 2023 the Management Board of the Group approved the intention to conclude financing agreement of EUR 225 million (hereinafter – the Agreement) with MUFG Bank (Europe) N.V. and MUFG Bank (Europe) N.V. Germany Branch (hereinafter – MUFG bank). The Agreement concludes two credit facilities of EUR 150 million (hereinafter – the Trade finance facility) and EUR 75 million (hereinafter – the Term loan). The Trade finance facility
By its decision of 28 April 2023, the Management Board of AB “Ignitis grupė” (hereinafter – the Group), company code: 301844044, registered office address: Laisvės Ave. 10, Vilnius, hereby convenes the Extraordinary General Meeting of Shareholders (hereinafter – EGM) of the Group. The EGM will be held on Thursday, 29 June 2023, at 13.00 p.m. (Vilnius time) at Business Garden Vilnius verslo centras, Laisvės Ave. 10, Vilnius, LT-04215. Registration starts at 12.00 p.m. and closes at 12.45 p.m. (Vi
Amended notification category from "Interim information" to "Notification on material event" AB “Ignitis grupė” (hereinafter – the Group) informs that Moray West offshore wind farm project, located in the Moray Firth, Scotland (hereinafter – the Project), and owned by Ocean Winds (a joint venture between ENGIE and EDP Renewables) and the Group (a minority shareholder with a stake of 5%), reached financial close. The Project financing will be utilised to secure the remaining elements of supply ch
AB “Ignitis grupė” (hereinafter – the Group) informs that Moray West offshore wind farm project, located in the Moray Firth, Scotland (hereinafter – the Project), and owned by Ocean Winds (a joint venture between ENGIE and EDP Renewables) and the Group (a minority shareholder with a stake of 5%), reached financial close.The Project financing will be utilised to secure the remaining elements of supply chain activity in preparation for offshore installation works in later 2023. The Project with ex
AB “Ignitis grupė” (hereinafter – the Group) informs that the Management Board of the Group made a final investment decision regarding the 5th unit (110 MW) of Kruonis Pumped Storage Hydroelectric Power Plant (hereinafter – Kruonis PSHP) and approved the conclusion of the contract with a consortium of companies, which include Voith Hydro GmbH and Co. KG (St. Pölten, Austria) and Voith Hydro GmbH and Co. KG (Heidenheim, Germany), that won the tender (hereinafter – the Contract). The Management Bo
AB “Ignitis grupė” (hereinafter – the Group) informs that on 4 April 2023 the Management Board of the Group approved the intention to conclude a credit facility agreement of EUR 100 million (hereinafter – the Agreement) with Citibank N.A. London Branch (hereinafter – Citibank). The credit facility limit will be used to manage working capital needs. The Agreement is committed and is concluded for a term of 12 months. The Agreement does not include additional measures ensuring the fulfilment of ob
AB “Ignitis grupė” (hereinafter – Group) informs that in the process of expanding and strengthening the competences of the Group Risk Management and Sustainability Committee (hereinafter – the Committee), the Supervisory Board of the Group approved two new independent members. From 1 April, the Committee was joined by Ana Riva and Wolf Willems, professionals with international experience in the fields of risk and environmental management, security and occupational health and safety. They were se
The Annual General Meeting of Shareholders of AB “Ignitis grupė” (hereinafter – the Group), legal entity code: 301844044, registered office address: Laisvės Ave. 10, Vilnius, which was held on 30 March 2023, adopted the following resolutions: 1. Regarding agreement to AB “Ignitis grupė” consolidated annual report for the year 2022, except for the part of the remuneration report. 1.1. To agree to AB “Ignitis grupė” consolidated annual report for the year 2022, except for the part of the remunerat
By its decision of 28 February 2023, the Management Board of AB “Ignitis grupė” (hereinafter – the Group), company code: 301844044, registered office address: Laisvės Ave. 10, Vilnius, convened the Annual General Meeting (hereinafter – AGM) of Shareholders of the Group. Following the proposal and decision of the Group’s Management Board of 10 March 2023, the agenda of the AGM was supplemented with items 6, 7 and 8: regarding the election of the audit firm and conditions of payment for audit serv
AB “Ignitis grupė” (hereinafter – the Group) informs that, after the approval of the Management Board of the Group, on 9 March 2023 its subsidiary UAB Vilniaus kogeneracinė jėgainė (hereinafter – Vilnius CHP) concluded a long-term loan agreement for EUR 220 million (hereinafter – the Loan) with AB “Swedbank” (hereinafter – Swedbank), and the Group concluded a credit line agreement (hereinafter – Credit line) for up to EUR 80 million with Swedbank. The Management Board also approved the Group’s t
Dear managers of energy companies, The war that Russia started in Ukraine a year ago has had disastrous effects, first and foremost, on the people of Ukraine, who have had to flee their homes or forgo even the basics of a life with dignity: no electricity, no heating in winter, and no water supply, not to mention the buildings that have been destroyed and the lives that have been taken. This war has also affected energy markets. Because of Russia’s actions, natural gas prices soared to unprecede
On 28 February 2023, the Management Board of AB “Ignitis grupė” (hereinafter – the Group), company code: 301844044, registered office address: Laisvės Ave. 10, Vilnius, convenes the Annual General Meeting of Shareholders (hereinafter – AGM) of the Group. The AGM will be held on Thursday, 30 March 2023, at 13.00 p.m. (Vilnius time) at Business Garden Vilnius verslo centras, Laisvės Ave. 10, Vilnius, LT-04215. The doors open at 12.00 p.m. and close at 12.45 p.m. (Vilnius time). The shareholders of
AB “Ignitis grupė” (hereinafter – the Group) publishes its Annual report 2022, which is attached to this notice, and announces that the Group’s Adjusted EBITDA amounted to EUR 469.3 million. The Group exceeded the higher end of a full-year guidance range (EUR 420–460 million) by 2.0%, which was mainly driven by the Green Generation segment due to the launch of Pomerania wind farm in Poland and better performance of the operating assets. Green Generation Adjusted EBITDA increased more than twofol
AB "Ignitis grupė" (hereinafter – the Group) publishes its Interim report for the twelve months of 2022 which is attached to this notice. Together with previous reports, it is also available on the Group’s website at: https://ignitisgrupe.lt/en/reports-and-presentations. On the same day, the Group also announces its Annual report 2022 and organises an earnings call. Hence, for further investor relevant information, see our notice on Annual report 2022, which is available here. For additional inf
AB „Ignitis grupė" (hereinafter – the Group) will release its Annual report 2022 on Tuesday, 28 February 2023. It will be followed by earnings call for investors and analysts to be held on the same day at 1:00 pm Vilnius / 11:00 am London time. To join the earnings call, please register at: https://edge.media-server.com/mmc/p/vzakgnpf It is also possible to join the earnings call by phone. To access the dial-in details please register here. After completing the registration, you will receive dia
AB “Ignitis grupė” (hereinafter – the Group) informs that on 9 February 2023 the Supreme Court of Lithuania (hereinafter – the Court) has decided that the case concerning the determination of the fair price of the shares of the Group's subsidiary AB “Energijos skirstymo operatorius” (hereinafter – ESO) should be referred back to the Vilnius District Court for reconsideration. The Court’s ruling stipulates that, during the reconsideration of the case in the Court of First Instance, an expert's re
AB “Ignitis grupė” (hereinafter – the Group) informs that AB “Energijos skirstymo operatorius” Management Board approved the signing of the agreement with the Ministry of Finance of the Republic of Lithuania on the use of the State budget funds in 2023. The Group would like to remind you that the resolution was passed by the Government of the Republic of Lithuania (hereinafter – the Government) on 26 October 2022, wherein a partial compensation was established for business customers for the peri
AB “Ignitis grupė” (hereinafter – the Group) informs that its subsidiary AB “Ignitis gamyba” (hereinafter – the Company) will ensure the availability of 250 MW capacity in the market in 2027 for approx. EUR 16 million, according to the results of the Polish capacity mechanism auction for ensuring capacity availability in 2027 (hereinafter – the Auction) conducted by the Polish transmission system operator Polskie Sieci Elektroenergetyczne (hereinafter – PSE). This will have a positive effect on
AB “Ignitis grupė” (hereinafter – the Group) informs that on 30 December 2022 its subsidiary AB “Ignitis gamyba” (hereinafter – the Company) concluded contract with a Lithuanian electricity transmission system operator LITGRID AB regarding electricity generation facilities’ availability services (hereinafter – Facility Availability Service) in 2023. The purpose of the services is to ensure the availability of electricity generation equipment and stable operation of Lithuanian electricity system
AB “Ignitis grupė” (hereinafter – the Group) informs that, after the approval of the Group’s Management Board, on 29 December the Group’s subsidiary UAB “Ignitis renewables” signed a conditional agreement to acquire 100% shares of a Latvian company which is developing solar projects in Latvia (hereinafter – the Agreement). Targeted total capacity of the projects under development will reach up to 300 MWp. The projects are in development with estimated start of construction in 2024 and commercial