“Almost 80 million Amber Grid earned EUR 100 million in revenue by transporting natural gas and providing balancing services to system users. During the year, a significant amount of 36 million was invested in the gas transmission network. amount of euros. Last year, several kilometers of sections of the gas pipeline between Vilnius and Kaunas were reconstructed, and the reconstruction projects of the gas distribution stations in Šiauliai, Telšiai, Grigiškii, Kėdainiai and Vievios were completed, and a gas pressure limiting node was installed in the gas pipeline to Marijampolė”, said Nemunas Biknius, head of Amber Grid, in a statement.
Amber Grid’s 2023 consolidated net profit was $13 million in an audited annual report and financial statement released Thursday to the Nasdaq exchange. euros and was 17 percent. lower than in 2022. Despite the successful transaction and the profit obtained for the subsidiary company “GET Baltic” 66 percent. stock exchange European Energy Exchange AG (EEX), last year’s decline in profit was influenced by costs. The company overestimated fixed assets, the decrease in value of which amounted to 4.7 million. euros.
Consolidated adjusted earnings before taxes, interest, depreciation and amortization (EBITDA) for 2023 amounted to 25.3 million. euros, when it reached 35.8 million at the same time last year. euros. The change in the indicator is related to changes in gas prices and lower income from transporting gas from a third country to a third country.
Last year, Amber Grid transported 61.2 terawatt hours (TWh) of gas through main gas pipelines. Of these, 19.1 TWh of gas was transported via the connection via Latvia to the Baltic countries and Finland, and 3.2 TWh of gas was transported to Poland via the GIPL gas pipeline. Lithuania’s demand was 14.9 TWh of gas.
The financial results of Amber Grid also include the results of the subsidiary gas exchange GET Baltic. in 2023 On May 31, after Amber Grid sold the controlling stake in GET Baltic to EEX, the company owns 34 percent. of the authorized capital of “GET Baltic”. The remaining investment in GET Baltic is accounted for as an investment in an associated company.
