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Enefit Green AS
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Date
29.02.2024 09:00:00
Title
Enefit Greeni IV kvartali ja 12 kuu 2023 auditeerimata finantstulemused
Message
Enefit Greeni IV kvartali ja 12 kuu 2023 auditeerimata finantstulemused Enefit Greeni IV kvartali 2023 konsolideeritud äritulud langesid võrreldes eelmise aasta sama ajaga 19 protsendi võrra 66,9 miljoni euroni ning ärikulud (v.a. kulum) kasvasid 1 protsendi võrra 37,3 miljoni euroni. Neljanda kvartali kulumieelne ärikasum (EBITDA) langes nende muutuste tulemusena 35 protsendi võrra 29,6 miljoni euroni. Puhaskasumit teenis grupp aasta viimases kvartalis 19,1 miljonit eurot, mida on 46 protsenti vähem eelmise aasta sama perioodiga võrreldes. 2023. aasta kokkuvõttes vähenesid Enefit Greeni konsolideeritud äritulud võrreldes eelneva aastaga 10 protsenti 230,1 miljoni euroni, EBITDA 32 protsenti 105,9 miljoni euroni ning puhaskasum 49 protsenti 55,8 miljoni euroni. 2023. aasta kasum aktsia kohta oli 0,21 eurot (2022: 0,42 eurot). Enefit Green juhatus teeb kooskõlastatult nõukoguga ettepaneku maksta 2023. aasta eest aktsionäridele dividendidena 27,7 miljonit eurot ehk 0,105 eurot aktsia kohta. Enefit Greeni juhatuse esimehe Aavo Kärmase kommentaar: ?Enefit Green jätkas 2023. aastal tööd arendusprojektidega ja meil valmis kaks uut taastuvelektrijaama Eestis ja üks Poolas. Aasta lõpu seisuga oli ettevõttel opereerivaid tootmisvõimsusi üle 500 megavati ja ehituses olevaid üle 700 megavati. Tegime investeerimisotsused ühe maismaa tuulepargi ehituseks Leedus ning kolme päikesepargi rajamiseks Eestis ja Lätis. Nende investeeringute koguvõimsus on ligikaudu 180 megavatti ja kogumaksumus ületab 200 miljonit eurot. Tootsime 2023. aastal 1,3 teravatt-tundi elektrit ja 604 gigavatt-tundi soojusenergiat. Enim mõjutas viiendiku võrra kasvanud elektritoodangu mahtu uute valminud ja veel ehituses olevate tuule- ja päikeseparkide toodang. Ehkki uued tuule- ja päikesepargid lisasid olulise osa aasta elektritoodangusse, kujunes see plaanitust väiksemaks, eelkõige tuule vähese kiiruse, Akmen? intsidendi ja Shilut? tuulepargi väiksema töökindluse tõttu. Kavandatust väiksema toodangu tõttu kasvasid pikaajaliste elektrilepingute täitmisega seonduvad elektriostukulud. Suur osa Enefit Greeni elektritoodangust on hinnariski vähendamiseks müüdud pikaajaliste lepingutega ette. Kuna aga tegelik toodang jäi kavandatule tunduvalt alla, tuli osta puudujääv elekter lepinguliste kohustuste täitmiseks turult. Jätkame käesoleval aastal tööd, et kõik ehituses olevad objektid saaksid valmis ja iga megavatt-tund elektrit toodetud. Enefit Greenil on tugev ligikaudu 4 900 megavati suurune lühi- ja pikaajaline maismaatuule, meretuule ning päikeseparkide arendusportfell. Meil on pikaajalised arendus- ja opereerimiskogemused ning hea ligipääs kapitaliturgudele. Ettevõtte kasvu kiiruse määrab aga meie koduturgude ja klientide nõudlus ning meie lubadus oma aktsionäride vara hästi majandada." Veebiseminar 2023. aasta tulemuste tutvustamiseks Enefit Green korraldab investoritele täna, 29. veebruaril kell 11.00 (eesti aeg) eestikeelse veebiseminari 2023. aasta tulemuste tutvustamiseks. Osalemiseks palume kasutada seda linki (https://teams.microsoft.com/l/meetup- join/19%3ameeting_YTRiOGMxY2MtMTdiNS00ZWMyLTg5YjMtMzk5YzIwZDYxZmMx%40thread.v2/0 ?context=%7B%22Tid%22%3A%2215cd778b-2b28-4ebc-956c- b5977a36cd28%22%2C%22Oid%22%3A%22775ae01b-e561- 4cc9-8790-1290c7b28035%22%2C%22IsBroadcastMeeting%22%3Atrue%2C%22role%22%3A%22a% 22%7D&btype=a&role=a). Olulisemad sündmused 2023. aastal * Valmis 65 MW ulatuses uusi tuule- ja päikeseparke * Akmene tuulepargi ehituse peatamine ja taaskäivitamine * Üks uus tuulepargi rajamise investeerimisotsus - 87 MW * Kolm uue päikesepargi rajamise investeerimisotsust - kokku 91 MW * 2023 tehtud investeerimisotsuste koguväärtus üle 200 mln EUR * Aasta jooksul sõlmisime uusi laenulepinguid 505 mln EUR väärtuses * Neljandas kvartalis sõlmisime lepingud kõigi biomassivarade müügiks Peamised näitajad +---------------------+---------+--------+--------+-+--------+--------+--------+ | | IV kv| IV kv| | | | | | | | 2023| 2022|Muutus %| |12k 2023|12k 2022|Muutus %| +---------------------+---------+--------+--------+-+--------+--------+--------+ |TOOTMIS- ja | | | | | | | | |MÜÜGIMAHUD | | | | | | | | +---------------------+---------+--------+--------+-+--------+--------+--------+ |Elektrienergia | | | | | | | | |toodang, GWh | 413| 291| 42%| | 1 343| 1 118| 20%| +---------------------+---------+--------+--------+-+--------+--------+--------+ |sh. uutest tuule- ja | | | | | | | | |päikeseparkidest | 112| 0| -| | 259| 0| -| +---------------------+---------+--------+--------+-+--------+--------+--------+ |Elektrienergia müük, | | | | | | | | |GWh | 520| 340| 53%| | 1 736| 1 217| 43%| +---------------------+---------+--------+--------+-+--------+--------+--------+ |Soojusenergia | | | | | | | | |toodang, GWh | 172| 157| 10%| | 604| 566| 7%| +---------------------+---------+--------+--------+-+--------+--------+--------+ |Pelletitoodang, tuh t| 42| 42| 0%| | 156| 154| 1%| +---------------------+---------+--------+--------+-+--------+--------+--------+ |Pelletimüük, tuh t | 43| 47| -9%| | 134| 149| -10%| +---------------------+---------+--------+--------+-+--------+--------+--------+ | | | | | | | | | +---------------------+---------+--------+--------+-+--------+--------+--------+ |ÄRITULUD, mln EUR | 66,9| 82,8| -19%| | 230,1| 257,0| -10%| +---------------------+---------+--------+--------+-+--------+--------+--------+ |Müügitulu, mln EUR | 61,2| 76,4| -20%| | 205,8| 233,3| -12%| +---------------------+---------+--------+--------+-+--------+--------+--------+ |Taastuvenergia toetus| | | | | | | | |jm äritulud, mln EUR | 5,7| 6,4| -10%| | 24,3| 23,7| 2%| +---------------------+---------+--------+--------+-+--------+--------+--------+ |ÄRIKULUD*, mln EUR | 37,3| 36,9| 1%| | 124,2| 102,2| 22%| +---------------------+---------+--------+--------+-+--------+--------+--------+ |EBITDA, mln EUR | 29,6| 45,8| -35%| | 105,9| 154,8| -32%| +---------------------+---------+--------+--------+-+--------+--------+--------+ |PUHASKASUM, mln EUR | 19,1| 35,4| -46%| | 55,8| 110,2| -49%| +---------------------+---------+--------+--------+-+--------+--------+--------+ |EPS**, EUR | 0,07| 0,13| -46%| | 0,21| 0,42| -49%| +---------------------+---------+--------+--------+-+--------+--------+--------+ * - ilma kulumita ** - puhaskasum aktsia kohta Äritulud Grupi elektritoodang kasvas 2023. aastal 1 343 gigavatt-tunnini (+20% võrdlusperioodiga võrreldes). Kasvu tõid mullu valminud ja jätkuvalt ehituses olevad tuule- ja päikesepargid. Äritulud kokku kahanesid 27,0 mln euro võrra, sh müügitulud vähenesid 27,5 mln euro ning taastuvenergia toetused ja muud äritulud kasvasid 0,6 mln euro võrra. Müügitulude 27,5 mln euro suurusest vähenemisest tulenes 24,4 mln eurot elektrimüügist, mille peamiseks mõjuriks olid elektri turuhinnad. Grupi koduturgude keskmine elektrihind oli 2023. aastal 92,7 EUR/MWh (võrdlusperioodil 205,5 EUR/MWh). Grupi keskmine arvutuslik teenitud elektrihind oli aruandeperioodil 89,6 EUR/MWh (võrdlusperioodil 149,5 EUR/MWh). Arvutuslik teenitud elektrihind on erinev koduturgude keskmisest turuhinnast, kuna selle arvutus võtab arvesse fikseeritud hinnaga pikaajalisi elektrimüügi lepinguid (PPA), taastuvenergia toetusi, bilansienergia ostu, elektriostu Nord Pooli päev- ette- ja päevasisesel turul ning asjaolu, et tuulepargid ei tooda igas tunnis sama palju elektrit. Grupi keskmine turule müüdud elektri hind oli 2023. aastal 73 EUR/MWh (aasta varem 165,7 EUR/MWh). 2023. aastal müüdi turule 783 GWh elektrit, võrdlusperioodil aga 786 GWh. PPA-dega oli 2023. aastal meie portfellist kaetud 953 GWh keskmise hinnaga 86,9 EUR/MWh. Aasta varem müüdi elektrit PPA-de ja soodustariifi (ingl feed-in tariff, FiT) taastuvenergia toetuse põhise tulumudeli kaudu 432 GWh keskmise hinnaga 90,8 EUR/MWh. Mullu nii õnnetuse tõttu pikalt seisnud Akmene tuulepargi, alla keskmise tuuleolude kui ka prognoositust halvemate töökindluste tõttu oodatust väiksemaks kujunenud elektritoodang suurendas elektriostukulusid, sest sõlmitud PPA-de teenindamiseks pidime turult ostudega katma tekkinud toodangu puudujääki. 2023. aastal ostsime turult elektrit 411 GWh keskmise hinnaga 110,2 EUR/MWh, aasta varem 115 GWh keskmise hinnaga 229,2 EUR/MWh (hinnad ja kogused ei sisalda pelletitootmiseks ostetud elektrit). Võrdlusperioodil oli ostetud elektri kogus tunduvalt väiksem, kuna osa toodangust oli fikseeritud hinnaga FiT-i toetusskeemi all ja PPA-de mahud olid väga väikesed. Pelleti müügitulud kasvasid aastaga 1,7 mln euro võrra. Pelleti keskmine müügihind tousis aastaga 17% võrra tasemele 238,6 EUR tonni kohta ning müügimaht kahanes 10% võrra 134 tuhande tonnini. Soojusenergia toodang suurenes aastaga 38 GWh võrra tasemele 604 GWh (võrdlusperioodil 566 GWh) ja hind kasvas mullusega võrreldes 11%. Suurema toodangu ja kõrgema hinna koosmõjul kasvas soojusenergia müügitulu 1,4 mln euro võrra. Muud äritulud kasvasid 0,6 mln euro võrra tasemele 24,3 mln eurot (võrdlusperioodil 23,7 mln eurot). Muid äritulusid mõjutas positiivselt Shilut? tuulepargi madala töökindluse eest lepinguliselt ette nähtud kompensatsioon summas 1,0 mln eurot ning Broc?ni koostootmisjaama ja pelletitehase müügikasum 1,0 mln eurot. Ärikulud Ärikulud (v.a. kulum) kasvasid mullu 22 miljoni ehk 22% võrra 124,2 miljoni euroni. Kaupade, toorme-, materjali- ja teenuste kulude (sh. elektri ostukulu) summa kasvas 14,4 mln EUR ehk 17% võrra. Peamised muutused toimusid elektrienergia kuludes (kasv 15,7 mln eurot), mis suurenesid seoses bilansienergia suurema kuluga (toodangu kasvust tulenenud bilansienergia kulu kasv oli 1,7 mln eurot) ning PPA-de teenindamiseks ostetud elektri kuluga (kasv võrreldes võrdlusperioodiga 16,8 mln eurot). Kuna hakkepuidu hind tõusis, suurenesid ka tehnoloogilise kütuse kulud (3,8 mln euro võrra). Samuti on kasvanud hooldus- ja remonditööde kulud 2,5 mln euro võrra. Hoolduskulude kasv on seotud täishoolduslepingute indekseerimisega ning planeeritud ja planeerimata täiendavate hooldustöödega tuuleparkides. Materjalide ja varuosade kulud toodangu valmistamiseks oli 7,5 mln euro võrra madalamad. 2022. aasta materjalide ja varuosade kulud toodangu valmistamiseks oli suuremad seoses kasvava päikeseteenuse mahuga. Madala kasumlikkuse tõttu otsustasime 2022. aasta keskpaigas sellest ärist väljuda kasumlikumale põhitegevusele keskendumise nimel ning realiseerisime vastavad laovarud. Grupi tööjõukulud kasvasid 19% ehk 1,7 mln euro võrra võrreldes 2022. aastaga. See tulenes täiskohaga töötajate arvu suurenemisest 183-lt 194-le ja olemasolevate töötajate palgatõusust. 29. detsembril 2023 jõustunud Broc?ni koostootmisjaama ja pelletitehase müügi tagajärjel vähenes Enefit Greeni töötajate arv 40 töötaja võrra. 31.12.2023 seisuga oli Enefit Greeni töötajate arv 154. Muud tegevuskulud kasvasid 4,8 mln euro võrra. Kasv toimus mitmes kulurühmas, sh konsultatsiooniteenuste (2,9 mln eurot), IT (0,3 mln eurot) ja kindlustuskuludes (0,2 mln eurot). Konsultatsiooniteenuste kuludest moodustasid 0,7 mln eurot Eesti Energia AS-iga arendusprojektide arenduskulude lepinguline hüvitamine, 0,8 mln eurot tuule arendusprojektide konsultatsioonikulud, 0,4 mln eurot päikese arendusprojektide konsultatsioonikulud ning 0,4 mln eurot koostootmisjaamade ja pelletitehase müügiga seondunud konsultatsioonikulud. EBITDA ja segmendiaruandlus Grupi EBITDA langes 2023. aastal 48,9 mln euro võrra 105,9 mln eurole (-32%). Suurimat mõju EBITDA vähenemisele avaldas müüdud elektri hinnalangus (-77,6 mln eurot). Suurenenud PPA-de mahust tulenevalt on võrreldes eelmise aastaga tunduvalt kasvanud elektriportfelli tasakaalustamiseks tehtud elektriostude maht (mõju -33,4 mln eurot), millega seoses on suurenenud ka müüdud elektri kogus (mõju +49,3 mln eurot). Nende mõjutegurite koondtulemust EBITDA-le mõjutab nii vastava perioodi elektritoodangu maht kui ka toodangu profiil. Oluline roll EBITDA langusel oli ka püsikulude tõusul 8,6 mln euro võrra. Püsikulude kasv tulenes eelpoolselgitatud hoolduskulude, uuringute ja konsultatsioonide kulude ning tööjõukulude suurenemisest. Aruandeperioodil oli nii EBITDA kui ka äritulude vaatest grupi suurim segment tuuleenergia segment (59% ärituludest ja 71% EBITDA-st). Koostootmise segment andis ärituludest 37% ja EBITDA-st 35%. Aruandeperioodi väikseim raporteeritav segment oli päikeseenergia segment, mille äritulud andsid 4% grupi ärituludest ja 3% EBITDA-st. Absoluutarvudes kahanesid enim tuule ja koostootmise segmendi EBITDA-d, kuna neid segmente mõjutas müüdud elektri madalam turuhind kõige rohkem. Põhivara kulum, amortisatsioon ja allahindlus Põhivara kulum kasvas 2023. aastal 2,8 mln euro võrra tasemele 40,6 mln eurot (võrdlusperioodil 37,8 mln eurot). 2023. aastal võtsime põhivarana arvele valminud Purtse tuule- ja päikesepargi ning Estonia kaevanduse päikesepargi Eestis, samuti Zambrówi päikesepargi Poolas. Purtse tuule- ja päikesepargi arvelevõtt suurendas 0,9 mln eurot ning Zambrówi päikesepargi arvelevõtt 0,1 mln eurot. 2022. aasta kulumit vähendas 1,4 mln eurot Aulepa ja Shilal? tuulepargi varade väärtuse taastamine. Neto finantstulud Neto finantstulud kasvasid 2,1 mln euro võrra võrreldes eelmise aastaga. Intressikulud pangalaenudelt on aastate võrdluses tõusnud 9,5 mln euro võrra tasemele 12,9 mln eurot, kuid 94% laenuintressidest kapitaliseeriti tuuleparkide ehitusperioodi tõttu. Positiivselt mõjutas finantstulusid Poola zloti valuutakursi muutus (2023. aastal kasum 0,5 mln eurot, võrdlusperioodil kahjum 0,5 mln eurot). Puhaskasum Lisaks ülaltoodud faktoritele mõjutas puhaskasumit täiendavalt tulumaksukulu suurenemine 4,1 mln euro võrra 9,7 mln eurole seoses mulluste suuremate dividendide väljamaksega kaasnenud suurema tulumaksukuluga Eestis. Grupi puhaskasumiks kujunes aruandeperioodil 55,8 mln eurot, mida oli 54,4 mln võrra ehk 49% võrra vähem kui eelneval aastal. Investeeringud Enefit Green tegi 2023. aastal 355,7 mln euro väärtuses investeeringuid, mida on 162,2 mln euro võrra rohkem kui võrdlusperioodil. Kasv tulenes arendusinvesteeringutest, mis ulatusid 350,6 mln euroni. Sellest 262,5 mln eurot oli seotud kolme tuulepargi rajamisega: 127,5 mln eurot investeeriti Kelm? tuuleparkidesse, 84,1 mln eurot Sopi-Tootsi tuuleparki ja 51,8 mln eurot Tolpanvaara tuuleparki. Kelm? piirkonna investeeringutest oli 89,5 mln eurot seotud Kelm? I tuulepargiga, 27,9 mln eurot Kelme II tuulepargiga ning 10,2 mln eurot Kelme III tuulepargiga. Päikeseparkide arendustest investeeriti enim mullu valminud Purtse päikeseparki (12,7 mln eurot) ja Vändra päikeseparki (9,4 mln eurot). Baasinvesteeringuid tehti 2023. aastal 5,1 mln euro (võrdlusperioodil 5,4 mln euro) ulatuses, sellest oli põhiosa seotud Eesti tuuleparkide (2,5 mln eurot) ja Iru jäätmeenergia elektrijaamaga (1,3 mln eurot). Finantseerimine Enefit Greeni grupp finantseerib oma tegevust oma- ja võõrkapitali abil. 2023. aastal jätkasime eelmisel aastal alanud kapitali struktuuri optimeerimist võõrkapitali kaasamise teel, sõlmides uusi ja võttes välja varem sõlmitud laenulepinguid, et rahastada käimasolevat uute tuule- ja päikeseparkide investeerimisprogrammi. 2023. aastal sõlmisime uusi laenulepinguid 505 mln euro ulatuses. Jaanuaris allkirjastasime Põhjamaade Investeerimispangaga 12-aastase laenulepingu summas 100 mln eurot ja SEB-ga seitsmeaastase laenulepingu summas 225 mln eurot. Sellele järgnes septembris sõlmitud 12-aastane laenuleping Euroopa Investeerimispangaga summas 180 mln eurot. 31. detsembri 2023 seisuga oli välja võtmata investeerimislaenude maht 285 mln eurot. Lisaks investeerimislaenudele on Enefit Green sõlminud kolm korduvkasutatavat likviidsuslaenulepingut kogusummas 50 mln eurot tähtaegadega perioodil 2024-2026. Kõik limiidid on seisuga 31. detsember 2023 kasutamata. Grupi intressikandvate ja võlasarnaste kohustuste maht oli 31. detsembri 2023. aasta seisuga korrigeeritud soetusmaksumuses 482,4 mln eurot (279,6 mln eurot 31. detsembril 2022). Sellest moodustasid 472,6 mln eurot pangalaenud ja 9,8 mln eurot liisingukohustused. Keskmine välja võetud pangalaenude intressimäär oli 31. detsembri 2023. aasta seisuga 3,75% (2,6% 31. detsembril 2022). Võrreldes eelmise aastaga on 31. detsembri 2023. aasta seisuga laenude baasintressimäärad jätkanud kasvu. 3 kuu EURIBOR kasvas 1,78 protsendipunkti võrra tasemele 3,91% ja 6 kuu EURIBOR tõusis 1,17 protsendipunkti võrra tasemele 3,86%. Seisuga 31. detsember 2023 oli 33,3% Enefit Greeni välja võetud laenukohustustest kaetud intressimäära vahetustehingutega. Dividendiettepanek Juhatus teeb kooskõlastatult nõukoguga ettepaneku maksta aktsionäridele 2023. aastal eelnevate perioodide kasumist dividendidena välja 27,7 mln eurot (0,105 eurot ühe aktsia kohta), mis moodustab 49,7% grupi 2022. aasta auditeerimata puhaskasumist. Lühendatud konsolideeritud kasumiaruanne tuhandetes eurodes IV kv 2023 IV kv 2022 2023 2022 Müügitulu 61 157 76 380 205 757 233 280 ------------------------------------------------------------------------------- Taastuvenergia toetus ja muud äritulud 5 745 6 372 24 307 23 735 ------------------------------------------------------------------------------- Valmis- ja lõpetamata toodangu varude jääkide muutus -1 056 -1 304 2 210 3 303 ------------------------------------------------------------------------------- Kaubad, toore, materjal ja teenused -28 944 -30 486 -100 330 -85 954 ------------------------------------------------------------------------------- Tööjõukulud -2 782 -2 470 -10 807 -9 111 ------------------------------------------------------------------------------- Põhivara kulum, amortisatsioon ja allahindlus -10 819 -8 848 -40 559 -37 777 ------------------------------------------------------------------------------- Muud tegevuskulud -4 520 -2 688 -15 237 -10 411 ------------------------------------------------------------------------------- ÄRIKASUM 18 781 36 956 65 341 117 065 ------------------------------------------------------------------------------- Finantstulud 1 134 240 1 960 337 ------------------------------------------------------------------------------- Finantskulud -1 481 -1 688 -1 858 -2 342 ------------------------------------------------------------------------------- Neto finantstulud (-kulud) -347 -1 448 102 -2 005 ------------------------------------------------------------------------------- Kasum kapitaliosaluse meetodil investeeringutelt sidusettevõtjatesse -20 27 66 714 ------------------------------------------------------------------------------- KASUM ENNE TULUMAKSUSTAMIST 18 414 35 535 65 509 115 774 ------------------------------------------------------------------------------- Tulumaks 690 -126 -9 716 -5 567 ------------------------------------------------------------------------------- ARUANDEPERIOODI KASUM 19 104 35 409 55 793 110 207 ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- Tava ja lahustunud puhaskasum aktsia kohta ------------------------------------------------------------------------------- Kaalutud keskmine aktsiate arv, tuh 264 276 264 276 264 276 264 276 ------------------------------------------------------------------------------- Tava puhaskasum aktsia kohta, EUR 0,072 0,13 0,21 0,42 ------------------------------------------------------------------------------- Lahustunud puhaskasum aktsia kohta, EUR 0,072 0,13 0,21 0,42 ------------------------------------------------------------------------------- Lühendatud konsolideeritud finantsseisundi aruanne tuhandetes eurodes 31.12.2023 31.12.2022 VARAD ---------------------------------------------------------------------------- Põhivara ---------------------------------------------------------------------------- Materiaalne põhivara 1 027 057 776 870 ---------------------------------------------------------------------------- Immateriaalne põhivara 59 891 60 382 ---------------------------------------------------------------------------- Varade kasutusõigus 9 097 4 239 ---------------------------------------------------------------------------- Ettemaksed põhivara eest 55 148 19 412 ---------------------------------------------------------------------------- Edasilükkunud tulumaksuvara 2 013 1 321 ---------------------------------------------------------------------------- Investeerinud sidusettevõtjatesse 548 506 ---------------------------------------------------------------------------- Tuletisinstrumendid 5 054 11 277 ---------------------------------------------------------------------------- Pikaajalised nõuded 0 40 ---------------------------------------------------------------------------- Kokku põhivara 1 158 808 874 047 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Käibevara ---------------------------------------------------------------------------- Varud 3 180 14 227 ---------------------------------------------------------------------------- Müügiootel ettevõtte varad 15 370 0 ---------------------------------------------------------------------------- Nõuded ostjate vastu, muud nõuded ja ettemaksed 55 082 41 091 ---------------------------------------------------------------------------- Raha ja raha ekvivalendid 65 677 131 456 ---------------------------------------------------------------------------- Tuletisinstrumendid 3 806 3 349 ---------------------------------------------------------------------------- Kokku käibevara 143 115 190 123 ---------------------------------------------------------------------------- Kokku varad 1 301 923 1 064 170 ---------------------------------------------------------------------------- tuhandetes eurodes 31.12.2023 31.12.2022 OMAKAPITAL ----------------------------------------------------------------------------- Emaettevõtja aktsionäridele kuuluv kapital ja reservid ----------------------------------------------------------------------------- Aktsiakapital 264 276 264 276 ----------------------------------------------------------------------------- Ülekurss 60 351 60 351 ----------------------------------------------------------------------------- Kohustuslik reservkapital 5 556 3 259 ----------------------------------------------------------------------------- Muud reservid 163 451 166 419 ----------------------------------------------------------------------------- Realiseerimata kursivahed -162 -762 ----------------------------------------------------------------------------- Jaotamata kasum 223 718 225 190 ----------------------------------------------------------------------------- Kokku omakapital 717 190 718 733 ----------------------------------------------------------------------------- ----------------------------------------------------------------------------- KOHUSTUSED ----------------------------------------------------------------------------- Pikaajalised kohustused ----------------------------------------------------------------------------- Võlakohustused 454 272 255 755 ----------------------------------------------------------------------------- Sihtfinantseerimine 3 102 7 115 ----------------------------------------------------------------------------- Tuletisvaba lepinguline kohustus 12 412 18 086 ----------------------------------------------------------------------------- Edasilükkunud tulumaksukohustused 12 497 12 326 ----------------------------------------------------------------------------- Muud pikaajalised võlad 5 239 3 000 ----------------------------------------------------------------------------- Eraldised 8 9 ----------------------------------------------------------------------------- Kokku pikaajalised kohustused 487 530 296 291 ----------------------------------------------------------------------------- Lühiajalised kohustused ----------------------------------------------------------------------------- Võlakohustused 28 159 23 808 ----------------------------------------------------------------------------- Võlad hankijatele ja muud võlad 58 412 20 215 ----------------------------------------------------------------------------- Müügiootel ettevõtte kohustused 4 952 0 ----------------------------------------------------------------------------- Eraldised 6 2 ----------------------------------------------------------------------------- Tuletisvaba lepinguline kohustus 5 674 5 121 ----------------------------------------------------------------------------- Kokku lühiajalised kohustused 97 203 49 146 ----------------------------------------------------------------------------- Kokku kohustused 584 733 345 437 ----------------------------------------------------------------------------- Kokku omakapital ja kohustused 1 301 923 1 064 170 ----------------------------------------------------------------------------- Lisainfo: Sven Kunsing Finantssuhtluse juht investor@enefitgreen.ee (https://www.globenewswire.com/Tracker?data=eahglFI0K4UUxwsmqXkQdO3N_ld1uojlGTE_ vteiKcyQu1wfu3r9tXxEfe64TI9iPjXXdLcA-1wKJKK402r4cwPqdjBXLG-Ga36PZFEEUJ4=) https://enefitgreen.ee/investorile/ (https://www.globenewswire.com/Tracker?data=2hvtWZj2Sah7P5FHBmegLeIoMx1_pu7PK9v_ TsWBkf-qdy705TQpwpl_2cNDmb3iCN- NkLHEs8SIwbSVVzso9h20XumT41kxmuMBN6kQDnpPywlTouLu7hjVZ5aMG9g6)
Title
Enefit Green's unaudited financial results Q4 and 12 months of 2023
Message
Enefit Green's unaudited financial results Q4 and 12 months of 2023 Enefit Green's consolidated operating income for Q4 2023 decreased by 19 percent to EUR66.9m compared to the same time last year, and operating expenses (excluding depreciation) increased by 1 percent to 37.3 million euros. As a result, Q4 2023 EBITDA fell by 35 per cent to EUR29.6m. In the last quarter of the year, the Group earned a net profit of EUR19.1m, which is 46 percent less than in the same period last year. In 2023 as a whole, Enefit Green's consolidated operating income decreased by 10 percent compared to the previous year to EUR230.1m, EBITDA by 32 percent to EUR105.9m, and net profit by 49 percent to EUR55.8m. 2023 earnings per share was EUR0.21 (2022: EUR 0.42). The Management Board of Enefit Green, in coordination with the Supervisory Board, proposes to pay the shareholders EUR27.7m or EUR0.105 per share in dividends. Aavo Kärmas, Chairman of the Management Board of Enefit Green, comments: "Enefit Green continued to work on development projects in 2023 and we completed two new renewable power plants in Estonia and one in Poland. As of the end of the year, the company had more than 500 megawatts of operating production capacity and more than 700 megawatts under construction. We made investment decisions for the construction of one onshore wind farm in Lithuania and the construction of three solar farms in Estonia and Latvia. The total capacity of these investments is approximately 180 megawatts and the total investment will exceed 200 million euros. In 2023, we produced 1.3 terawatt-hours of electricity and 604 gigawatt-hours of thermal energy. 20% growth in electricity production result was driven by the increase in the output of new completed wind and solar farms and of those still under construction. Although the new wind and solar farms added a significant part of the year's electricity production, it turned out to be smaller than planned, primarily due to the low wind speed, the Akmen? incident and the lower availability of the Shilut? wind farm. Lower than planned production led to an increase in the cost of purchasing electricity to fulfil the obligations related to the long-term electricity contracts (PPAs). To reduce the power price risk, large proportion of Enefit Green's electricity production has been sold forward with long-term PPAs. As the actual production was well below the planned level, the shortfall had to be purchased on the market to meet contractual obligations. We will continue to work this year to ensure the completion of our construction projects and that every megawatt-hour of electricity will be produced. Enefit Green has a strong development portfolio of approximately 4,900 megawatts of short- and long-term on- and offshore wind and solar farm projects. We have long-term development and operating experience and a good access to capital markets. However, the speed of the company's growth is determined by the demand on our core markets and of our customers, as well as our promise to manage the assets of our shareholders well." Webinar to present the results Enefit Green is organising a webinar in English for investors today, 29 February at 13:00 (EET) to present the unaudited 2023 results. To participate, please use this link (https://teams.microsoft.com/l/meetup- join/19%3ameeting_YzU4YTJhZDgtMDVlNi00NjFkLWIxYzYtNWVmNGY3MzlhMTll%40thread.v2/0 ?context=%7B%22Tid%22%3A%2215cd778b-2b28-4ebc-956c- b5977a36cd28%22%2C%22Oid%22%3A%22775ae01b-e561- 4cc9-8790-1290c7b28035%22%2C%22IsBroadcastMeeting%22%3Atrue%2C%22role%22%3A%22a% 22%7D&btype=a&role=a). Highlights in 2023 * 65 MW of new wind and solar parks completed * Suspension and restart of the construction of the Akmene wind farm * One final investment decision to build a wind farm - 87 MW * Three final investment decisions to build a new solar farm - a total of 91 MW * Total value of 2023 final investment decisions exceeds EUR200m * A total of EUR505m of loan facilities signed during 2023 * In Q4, we signed contracts for the sale of all biomass assets Key indicators +------------------------+-------+-------+--------+-+--------+--------+--------+ | |Q4 2023|Q4 2022|Change %| |12m 2023|12m 2022|Change %| +------------------------+-------+-------+--------+-+--------+--------+--------+ |PRODUCTION AND SALES | | | | | | | | |VOLUMES | | | | | | | | +------------------------+-------+-------+--------+-+--------+--------+--------+ |Electricity production, | | | | | | | | |GWh | 413| 291| 42%| | 1 343| 1 118| 20%| +------------------------+-------+-------+--------+-+--------+--------+--------+ |Incl. new wind and solar| | | | | | | | |farms | 112| 0| -| | 259| 0| -| +------------------------+-------+-------+--------+-+--------+--------+--------+ |Sales of electricity, | | | | | | | | |GWh | 520| 340| 53%| | 1 736| 1 217| 43%| +------------------------+-------+-------+--------+-+--------+--------+--------+ |Heat production, GWh | 172| 157| 10%| | 604| 566| 7%| +------------------------+-------+-------+--------+-+--------+--------+--------+ |Pellet production, | | | | | | | | |thousand t | 42| 42| 0%| | 156| 154| 1%| +------------------------+-------+-------+--------+-+--------+--------+--------+ |Pellet sales, thousand t| 43| 47| -9%| | 134| 149| -10%| +------------------------+-------+-------+--------+-+--------+--------+--------+ | | | | | | | | | +------------------------+-------+-------+--------+-+--------+--------+--------+ |OPERATING INCOME, mEUR | 66.9| 82.8| -19%| | 230.1| 257.0| -10%| +------------------------+-------+-------+--------+-+--------+--------+--------+ |Sales revenue, mEUR | 61.2| 76.4| -20%| | 205.8| 233.3| -12%| +------------------------+-------+-------+--------+-+--------+--------+--------+ |Support for renewable | | | | | | | | |energy and other | | | | | | | | |business income, mEUR | 5.7| 6.4| -10%| | 24.3| 23.7| 2%| +------------------------+-------+-------+--------+-+--------+--------+--------+ |OPERATING EXPENSES*, mEUR | 37.3| 36.9| 1%| | 124.2| 102.2| 22%| +------------------------+-------+-------+--------+-+--------+--------+--------+ |EBITDA, mEUR | 29.6| 45.8| -35%| | 105.9| 154.8| -32%| +------------------------+-------+-------+--------+-+--------+--------+--------+ |NET PROFIT, mEUR | 19.1| 35.4| -46%| | 55.8| 110.2| -49%| +------------------------+-------+-------+--------+-+--------+--------+--------+ |EPS, EUR | 0.07| 0.13| -46%| | 0.21| 0.42| -49%| +------------------------+-------+-------+--------+-+--------+--------+--------+ * excluding D&A Operating income The Group's electricity production increased to 1,343 gigawatt-hours in 2023 (+20% compared to the reference period). The growth was driven by the wind and solar farms completed last year and by those still under construction. Total operating income decreased by EUR27.0m, the figure reflecting a decrease in revenue of EUR27.5m and an increase in renewable energy support and other operating income of EUR0.6m. Of the EUR27.5m revenue decrease, EUR24.4m was attributable to electricity sales, which were strongly influenced by the market price of electricity. In 2023, the average electricity price in the group's core markets was 92.7 EUR/MWh (2022: 205.5 EUR/MWh) and the group's average implied captured electricity price was 89.6 EUR/MWh (2022: 149.5 EUR/MWh). The implied captured electricity price differs from the average market price in the group's core markets, because it takes into account long-term fixed-price power purchase agreements (PPAs), renewable energy support, purchases of balancing energy, electricity purchases from the Nord Pool day-ahead and intraday markets, and the fact that wind farms do not produce the same amount of electricity every hour. The group's average price of electricity sold to the market in 2023 was 73.0 EUR/MWh compared with 165.7 EUR/MWh in 2022. The group sold 783 GWh of electricity to the market in 2023 compared with 786 GWh in 2022. In 2023, 953 GWh of the group's portfolio was covered by PPAs at an average price of 86.9 EUR/MWh. A year earlier, 432 GWh of electricity was sold under an income model based on PPAs and the feed-in tariff (FiT) at an average price of 90.8 EUR/MWh. Various factors like the incident-induced long stoppage of Akmene wind farm, lower than average wind speeds and lower than forecasted availabilities caused lower than expected electricity production, which in turn contributed to increased cost of purchasing electricity, because to fulfil the obligations under the PPAs, we had to cover the resulting production deficit with purchases from the market. In 2023, we purchased 411 GWh of electricity from the market at an average price of 110.2 EUR/MWh, compared with 115 GWh at an average price of 229.2 EUR/MWh in 2022 (the prices and volumes exclude the electricity purchased for pellet production). In 2022, the amount of electricity purchased from the market was significantly lower as part of the production was covered by the fixed-price FiT support scheme and the volumes agreed under PPAs were very small. Pellet sales revenue grew by EUR1.7m compared to the previous year. While the average sales price of pellets increased by 17% to 238.6 EUR/t in 2023, the pellet sales volume decreased by 10% to 134 k tonnes. Heat production grew by 38 GWh to 604 GWh (2022: 566 GWh) and the heat price increased by 11% (+1.7 EUR/MWh). Through the combined effect of higher production and a higher price, heat sales revenue grew by EUR1.4m. Other operating income grew by EUR0.6m to EUR24.3 million (2022: EUR23.7m). Other operating income was also supported by liquidated damages of EUR1.0m received for the low availability of the Shilute wind farm and a gain of EUR1.0m on the sale of the Broc?ni cogeneration (CHP) plant and the pellet factory. Operating expenses Operating expenses excluding depreciation increased by 22 million or 22% to 124.2 million euros last year. Expenses on raw materials, consumables and services increased by EUR14.4m (17%). The biggest changes were in electricity costs, which grew by EUR15.7m due an increase in balancing energy costs (up EUR1.7m due to production growth) and the cost of electricity purchased to service the PPA portfolio (up EUR16.8m compared to 2022). Technological fuel costs grew by EUR3.8m, driven by an increase in the price of wood chips. Repair and maintenance costs increased by EUR2.5m due to the indexation of full-service maintenance contracts and additional planned and unplanned maintenance of wind farms. Expenses on materials, supplies and spare parts decreased by EUR7.5. Expenses on materials, supplies and spare parts were higher in 2022 due to a increase in solar services. Due to its low profit margin, however, we decided to exit the solar services business in mid-2022 in order to focus on our more profitable core business and sold related inventories. The group's payroll expenses grew by 1.7m (19%) compared to 2022, mainly due to an increase in the number of full-time equivalent staff from 183 to 194 and a general pay rise. The sale of the Broc?ni CHP plant and the pellet factory, which was finalised on 29 December 2023, reduced the group's headcount by 40 to 154 by the end of 2023. Other operating expenses increased by EUR4.8m, driven by growth in consulting expenses (EUR2.9m), IT expenses (EUR0.3m) and insurance expenses (EUR0.2m). The biggest items within consulting expenses were the compensation paid to Eesti Energia AS for development expenses incurred in connection with development projects (EUR0.7m) and consulting expenses related to wind energy development projects (EUR0.8m), solar energy development projects (EUR0.4m) and the sale of the CHP plants and the pellet factory (EUR0.4m). EBITDA and segment reporting 2023 EBITDA of the Group decreased by EUR 48.9 million to EUR 105.9 million (- 32%). The factor with the strongest impact on EBITDA development was the price of electricity sold, which fell steeply compared to 2022 (negative impact: EUR77.6m). Due to PPAs, the volume of electricity purchase to balance the electricity portfolio grew significantly (negative impact: EUR33.4m), which also increased the volume of electricity sold (positive impact: EUR49.3m).The combined effect of the above factors on EBITDA development is influenced by the volume and profile of electricity produced during the period. The increase in fixed costs by EUR8.6m also played an important role in the decrease of EBITDA. The increase in fixed costs was driven by maintenance costs, research and consulting expenses and payroll expenses, as explained above. In terms of operating income and EBITDA for 2023, the Group's largest segment is Wind energy, which accounted for 59% of operating income and 71% of EBITDA. The Cogeneration segment contributed 37% of operating income and 35% of EBITDA. The smallest reportable segment is Solar energy, which accounted for 4% of operating income and 3% of EBITDA. In absolute terms, the EBITDA of the Wind energy and the Cogeneration segments decreased the most as those segments were hit the hardest by the fall in the market price of electricity sold. Depreciation, amortisation and impairment (D&A) D&A expense grew by EUR2.8m to EUR40.6m in 2023 (2022: EUR37.8m). Major assets completed and recognised during the period included the Purtse wind and solar farm and a solar power plant built for the Estonia mine in Estonia and the Zambrów solar farm in Poland. Recognition of the Purtse wind and solar farm and the Zambrów solar farm increased D&A expense by EUR0.9m and EUR0.1m, respectively. D&A expense for 2022 was reduced by EUR1.4m by the reversal of the impairment losses recognised for the Aulepa and the Shilale wind farms. Net finance income Net finance income increased by EUR2.1m year on year. Interest expense on bank loans grew by EUR9.5m to EUR12.9m but 94% of it was capitalised due to the wind farms still being under construction. The change in the exchange rate of the Polish zloty had a positive impact (2023: a gain of EUR0.5m, 2022: a loss of EUR0.5m). Net profit In addition to the factors explained above, net profit was additionally affected by the increase in income tax expense by EUR4.1m to EUR9.7m due to the higher income tax expense in Estonia related to the payment of larger dividends last year. As a result, 2023 net profit of the Group was EUR55.8m, which was EUR54.4m or 49% lower than in 2022. Investments The Group invested EUR355.7m in 2023, which is EUR162.2m more than in 2022. Growth resulted from development investments, which extended to EUR350.6m. Of this, EUR262.5m was invested in the construction of three wind farms: EUR127.5m in the Kelm? wind farms, EUR84.1m in the Sopi-Tootsi wind farm and EUR51.8m in the Tolpanvaara wind farm. Investments made in the Kelm? wind farms consisted of investments of EUR89.5m in the Kelm? I wind farm, EUR27.9m in the Kelm? II wind farm and EUR10.2m in the Kelme III wind farm. The largest investments in the development of solar energy were EUR12.7m for the Purtse solar farm and EUR9.4m for the Vändra solar farm. Base investments amounted to EUR5.1m (2022: EUR5.4m) and were mainly related to the Estonian wind farms (EUR2.5m) and the Iru power plant (EUR1.3m). Financing Enefit Green finances its operations with equity and debt capital. In 2023, we continued to optimise our capital structure by raising debt by securing new and drawing down previously secured loans to finance our ongoing investment programme for wind and solar farms. During the year, we signed new loan agreements for EUR505m. In January, we signed a 12-year loan agreement for EUR100m with NIB and a 7-year loan agreement for EUR225m with SEB. In September, we signed a 12-year loan agreement for EUR180m with EIB. As of 31 December 2023, we had EUR285m of undrawn investment loans. In addition to investment loans, Enefit Green has signed three revolving credit facility agreements of EUR50m in total, which mature between 2024-2026 (all facilities were undrawn as of 31 December 2023). As of 31 December 2023, the amortised cost of the group's interest-bearing liabilities was EUR482.4m (31 December 2022: EUR279.6m). The figure comprises bank loans and finance lease liabilities of EUR472.6m and EUR9.8m, respectively. The weighted average interest rate of bank loans drawn down as at 31 December 2023 was 3.75% (31 December 2022: 2.60%). The base rates at the end of 2023 were significantly higher than a year earlier. During the year, the 3-month EURIBOR increased by 1.78 percentage points to 3.91% and the 6-month EURIBOR increased by 1.17 percentage points to 3.86%. As of 31 December 2023, 33.3% of the loans drawn down by Enefit Green were hedged with interest rate swaps. Dividend proposal In coordination with the supervisory board, the management board proposes that in 2024 the company pay the shareholders a dividend of EUR27.7m (EUR0.105 per share) from retained earnings, which is equivalent to 49.7% of the group's unaudited net profit for 2023. Condensed consolidated interim income statement EUR thousand Q4 2023 Q4 2022 2023 2022 Revenue 61,157 76,380 205,757 233,280 ------------------------------------------------------------------------------- Renewable energy support and other income 5,745 6,372 24,307 23,735 ------------------------------------------------------------------------------- Change in inventories of finished goods and work-in-progress (1,056) (1,304) 2,210 3,303 ------------------------------------------------------------------------------- Raw materials, consumables and services used (28,944) (30,486) (100,330) (85,954) ------------------------------------------------------------------------------- Payroll expenses (2,782) (2,470) (10,807) (9,111) ------------------------------------------------------------------------------- Depreciation, amortisation and impairment (10,819) (8,848) (40,559) (37,777) ------------------------------------------------------------------------------- Other operating expenses (4,520) (2,688) (15,237) (10,411) ------------------------------------------------------------------------------- OPERATING PROFIT 18,781 36,956 65,341 117,065 ------------------------------------------------------------------------------- Finance income 1,134 240 1,960 337 ------------------------------------------------------------------------------- Finance costs (1,481) (1,688) (1,858) (2,342) ------------------------------------------------------------------------------- Net finance costs (347) (1,448) 102 (2,005) ------------------------------------------------------------------------------- Profit (loss) from associates under the equity method (20) 27 66 714 ------------------------------------------------------------------------------- PROFIT BEFORE TAX 18,414 35,535 65,509 115,774 ------------------------------------------------------------------------------- Corporate Income Tax Expense 690 (126) (9,716) (5,567) ------------------------------------------------------------------------------- PROFIT FOR THE PERIOD 19,104 35,409 55,793 110,207 ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- Basic and diluted earnings per share ------------------------------------------------------------------------------- Weighted average number of shares, thousand 264,276 264,276 264,276 264,276 ------------------------------------------------------------------------------- Basic earnings per share, EUR 0.072 0.13 0.21 0.42 ------------------------------------------------------------------------------- Diluted earnings per share, EUR 0.072 0.13 0.21 0.42 ------------------------------------------------------------------------------- Condensed consolidated interim statement of financial position EUR thousand 31 Dec 2023 31 Dec 2022 ASSETS -------------------------------------------------------------------------- Non-current assets -------------------------------------------------------------------------- Property, plant and equipment 1,027,057 776,870 -------------------------------------------------------------------------- Intangible assets 59,891 60,382 -------------------------------------------------------------------------- Right-of-use assets 9,097 4,239 -------------------------------------------------------------------------- Prepayments 55,148 19,412 -------------------------------------------------------------------------- Deferred tax assets 2,013 1,321 -------------------------------------------------------------------------- Investments in associates 548 506 -------------------------------------------------------------------------- Derivative financial instruments 5,054 11 277 -------------------------------------------------------------------------- Long-term receivables 40 -------------------------------------------------------------------------- Total non-current assets 1,158,808 874,047 -------------------------------------------------------------------------- -------------------------------------------------------------------------- Current assets -------------------------------------------------------------------------- Inventories 3,180 14,227 -------------------------------------------------------------------------- Assets of a company held for sale 15,370 -------------------------------------------------------------------------- Trade and other receivables and prepayments 55,082 41,091 -------------------------------------------------------------------------- Cash and cash equivalents 65,677 131,456 -------------------------------------------------------------------------- Derivative financial instruments 3,806 3,349 -------------------------------------------------------------------------- Total current assets 143,115 190,123 -------------------------------------------------------------------------- Total assets 1,301,923 1,064,170 -------------------------------------------------------------------------- EUR thousand 31 Dec 2023 31 Dec 2022 EQUITY ------------------------------------------------------------------------------- Equity and reserves attributable to equity holder of the parent ------------------------------------------------------------------------------- Share capital 264,276 264,276 ------------------------------------------------------------------------------- Share premium 60,351 60,351 ------------------------------------------------------------------------------- Statutory reserve capital 5,556 3,259 ------------------------------------------------------------------------------- Other reserves 163,451 166,419 ------------------------------------------------------------------------------- Foreign currency translation reserve (162) (762) ------------------------------------------------------------------------------- Retained earnings 223,718 225,190 ------------------------------------------------------------------------------- Total equity 717,190 718,733 ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- LIABILITIES ------------------------------------------------------------------------------- Non-current liabilities ------------------------------------------------------------------------------- Borrowings 454,272 255,755 ------------------------------------------------------------------------------- Goverment grants 3,102 7,115 ------------------------------------------------------------------------------- Non-derivative contract liability 12,412 18,086 ------------------------------------------------------------------------------- Deferred tax liabilities 12,497 12,326 ------------------------------------------------------------------------------- Other non-current liabilities 5,239 3,000 ------------------------------------------------------------------------------- Provisions 8 9 ------------------------------------------------------------------------------- Total non-current liabilities 487,530 296,291 ------------------------------------------------------------------------------- Current liabilities ------------------------------------------------------------------------------- Borrowings 28,159 23,808 ------------------------------------------------------------------------------- Trade and other payables 58,412 20,215 ------------------------------------------------------------------------------- Liabilities of a company held for sale 4,952 0 ------------------------------------------------------------------------------- Provisions 6 2 ------------------------------------------------------------------------------- Non-derivative contract liability 5,674 5,121 ------------------------------------------------------------------------------- Total current liabilities 97,203 49,146 ------------------------------------------------------------------------------- Total liabilities 584,733 345,437 ------------------------------------------------------------------------------- Total equity and liabilities 1,301,923 1,064,170 ------------------------------------------------------------------------------- Additional information: Sven Kunsing Head of Financial Communication investor@enefitgreen.ee (https://www.globenewswire.com/Tracker?data=eahglFI0K4UUxwsmqXkQdO3N_ld1uojlGTE_ vteiKcyQu1wfu3r9tXxEfe64TI9iPjXXdLcA-1wKJKK402r4cwPqdjBXLG-Ga36PZFEEUJ4=) https://enefitgreen.ee/investorile/ (https://www.globenewswire.com/Tracker?data=2hvtWZj2Sah7P5FHBmegLeIoMx1_pu7PK9v_ TsWBkf-qdy705TQpwpl_2cNDmb3iCN- NkLHEs8SIwbSVVzso9h20XumT41kxmuMBN6kQDnpPywlTouLu7hjVZ5aMG9g6)