Elering profit for Q4 rises 0.6 million euros to 12.2 million euros

Elering’s operating income for Q4 2018 was 44.4 million euros, and net profit was 12.2 million euros.

Elering’s total operating income grew by 9.5 per cent or 3.8 million euros compared to the same period in 2017. As to operating expenses, expenses on loss energy in the power grid saw the most growth – by a total of 3.4 million euros. The growth was due to a rise in power exchange price. In connection with the commissioning of new equipment in the power grid, depreciation on non-current assets grew by close to 1 million euros. Elering earned 12.7 million euros in operating profit during the quarter.

Financial costs dropped by 2.2 million euros, hitting 0.6 million euros, in connection with successfully refinanced Eurobonds.

Cash flow from operating activity in Q4 was 7.1 million euros. Elering invested 49.9 million into non-current assets, while 0.5 million euros came in from European Union assistance and income from auction of transmission capacities between countries yielded 3.1 million euros. The bank deposit in the amount of 40 million euros matured in Q4 and the company repaid 2.6 million euros of loans it had taken earlier.

Elering’s asset volume as of late December was 948.4 million euros and equity stood at 384.8 million euros.