Elering’s Q3 Financial Results

In the third quarter of 2016, Elering’s revenue was 24.3 million euros, operating profit 2.7 million euros and net loss 0.1 million euros.

Revenues fell by 2.5 million euros compared to the third quarter of last year, mainly in relation to last year’s extraordinary income. Operating expenses decreased by 1.1 million euros and financial costs remained at the same level in comparison with last year. As a result, net profit decreased by 1.5 million euros.

In the third quarter, cash flow from operations generated 1.7 million euros for Elering. 4.5 million euros were invested in fixed assets, and inflows from cross-border transmission capacity auctions totalled 1.8 million euros. The total net cash flow from investments was therefore 2.6 million euros. Loan repayment in the amount of 10.0 million euros was reflected under financing cash flows in the third quarter. As a result, the total decline in cash balance was 10.9 million euros.

By the end of the quarter, assets totalled 864.2 million euros and equity totalled 338.3 million euros.

Elering is an independent and autonomous electricity and gas compound system operator, whose main task is to ensure quality energy supply to consumers in Estonia. For this reason, the company manages, administers, and develops the national and cross-border energy infrastructure. By its operation, Elering ensures the conditions for the functioning of the energy market and for economic development.

Take a closer look at the third quarter financial results of Elering here.