Q2 2024 Ignitis Grupe AB Earnings Call Transcript
Key Points
- Ignitis Group AB (FRA:IGV0) increased its adjusted EBITDA by 14.3% year over year, reaching EUR289.7 million.
- The company grew its green capacities portfolio by 0.6 gigawatts to 7.7 gigawatts and increased installed capacity by 0.1 gigawatts to 1.4 gigawatts.
- S&P Global Ratings reaffirmed Ignitis Group AB (FRA:IGV0)'s BBB+ credit rating with a stable outlook.
- The company proposed a dividend of EUR0.663 per share, which is 3% higher than last year.
- Ignitis Group AB (FRA:IGV0) improved its ESG ratings, with Sustainalytics upgrading the group's ESG risk rating from medium to low.
- Return on capital employed decreased by 0.9-percentage-points to 10.4%, mainly due to the lag between the deployment of capital investments and subsequent realization of returns.
- The total recordable injury rate for employees increased to 1.00 as the number of safety incidents rose from three to four.
- Adjusted EBITDA in the Customers & Solutions segment was negative EUR5.6 million in Q2, primarily due to negative results on the B2C electricity side.
- Free cash flow was negative, amounting to minus EUR105 million as a result of investments exceeding adjusted EBITDA and net working capital changes.
- The company expects some deterioration in results in H2 2024 due to factors such as reserve capacities having stronger than expected results in H1 and a positive temporary volume effect in the network business reversing in H2.
Hello, everyone, and welcome to the Ignitis Group results call for the first half year. I'm Aine Riffel-Grinkeviciene, Head of Investor Relations, and I will moderate today's presentation. We are also joined by the CEO and CFO of the Ignitis Group, who will present both the strategic and financial performance for the reporting period.
This will be followed by a question and answer session before we begin, I would like to remind you that today's presentation contains forward-looking statements that are subject to risks and uncertainties. These statements are based on management's current beliefs, expectations and assumptions and actual results may differ materially from those expressed or implied. Speakers, you may now begin.
Hello, everyone. Let me start with the highlights of the first-half of 2024. First, on our strategic performance, we continued to grow our green
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
