Brief: Ignitis Grupe 9-Month Adjusted Net Profit Widens To EUR 202.4 Million

Ignitis Grupe AB

22/11/2022 07:13

Nov 22 (Reuters) - Ignitis Grupe AB  IGN1L.VL :
    * 9-MONTH ADJUSTED EBITDA EUR 357.2 MILLION VERSUS EUR 220.9
MILLION YEAR AGO
    * 9-MONTH ADJUSTED NET PROFIT EUR 202.4 MILLION VERSUS EUR
92.6
MILLION YEAR AGO
    * NET WORKING CAPITAL INCREASED BY EUR 582.3 MILN VERSUS
DEC.31
2021 AND REACHED EUR 1.10 BILLION
    * NET WORKING CAPITAL INCREASE LED TO A SIGNIFICANTLY
NEGATIVE
FREE CASH FLOW OF EUR 626.6 MILLION
    * ONLY SMALL PART OF ADDITIONAL NET WORKING CAPITAL WAS
FINANCED
BY THE INCREASED ADJUSTED EBITDA EARNINGS
    * MAJORITY OF NET WORKING CAPITAL COVERED THROUGH ADDITIONAL
BORROWING BY SECURING CREDIT LINE AGREEMENTS OF C. EUR 719
MILLION  IN TOTAL
    * EUR 599 MILLION WAS BORROWED AS OF SEPT. 30 AND THIS
RESULTED IN
NET DEBT INCREASE TO EUR 1.50 BILLION
    * FOLLOWING STRONG PERFORMANCE OF GREEN GENERATION SEGMENT
IN 9M
2022,  EXPECTS FY 2022 ADJUSTED EBITDA IN RANGE OF EUR 420–460
MILLION

Source text:  ID:nGNE6mxPlY 
Further company coverage:  IGN1L.VL 
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