Investor news

Financing

As of 30 September 2017, the long-term debt obligations of Eesti Energia included Eurobonds in the amount of 758 million euros, as well as loans received from the European Investment Bank in nominal value of 180 million euros. The maturity dates of the Eurobonds are in 2018, 2020 and 2023.

The liquidity buffer for the group includes both liquid financial assets as well as undrawn loan facilities. As of October 2017, the amount of undrawn loans amounted to 150 million euros, which included revolving credit facilities with two regional banks (SEB and OP Corporate Bank).

Debt maturity profile (€ m)

* As of 30 September 2017

Overview of debt obligations

Bonds

Bonds Eurobond Eurobond Eurobond
ISIN XS0235372140 XS0763379343 XS1292352843
Issue date 15 November 2005 28 March 2012 15 September 2015
Coupon rate 4,5% 4,25% 2,384%
Coupon frequency Annual Annual Annual
Lead Managers Citigroup Deutsche Bank and Nordea Barclays, Deutsche Bank and Nordea
Listing London London London
Amount outstanding €106.3m (until 21 September 2015 the repurchase was €300 million) €152m (until 21 September 2015 the repurchase was €400 million) €500m
Maturity date 18 November 2020 2 October 2018 22 September 2023

Credit ratings and analyses

Moody's

19.04.2017
Baa3

S&P

14.07.2017
BBB

Reports and presentations

Eesti Energia Group results for Q3 2017

  • The sales revenues of Eesti Energia Group amounted to EUR 157.6 million in the third quarter of 2017 (-7.6% year-on-year).
  • Group EBITDA reached EUR 54.1 million (+3.2% year-on-year).
  • The Group's net profit equalled EUR 16.2 million in the third quarter of 2017 (+21.9% year-on-year).

Annual Report

Sales revenues of Eesti Energia Group amounted to EUR 742.1 million in the 2016 financial year, which constitutes 4.5% decline compared to 2015. Group EBITDA reached EUR 327.3 million (+23.2% y-o-y) being the highest ever annual EBITDA for Eesti Energia. The Group's net profit totalled EUR 171.0 million (a growth of EUR 130.5 million compared to 2015).

Annual Report

Eesti Energia's sales revenues for the financial year 2015 amounted to EUR 777 million (-11.7%, EUR -103.2 million down from 2014), while EBITDA totalled EUR 266 million (-14.9%, EUR -46.5 million) and net profit EUR 40 million (-74.6%, EUR -118.8 million).

Annual Report

The year 2014 was an anniversary year for Eesti Energia - 75 years passed since the establishment of our predecessor, limited com - pany Elektrikeskus. We also celebrated other noteworthy milestones such as 65 years since the launch of Eesti Energia's first power plant, 55 years since the completion of the Balti power plant and 45 years since the launch of the Eesti power plant.

Annual Report

Eesti Energia sales revenues for the financial year 2013 amounted to 966 million euros (+18%), while EBITDA reached 310 million euros (+12%) and net profit 160 million euros (+107%).

Annual Report

Consolidated revenues of Eesti Energia for FY2012 amounted to 868 million euros (+1% y-o-y), EBITDA to 278 million euros (+5% y-o-y) and net profit to 77 million euros (-48% y-o-y).

Annual Report

The 2011 financial year for Eesti Energia was a year for laying the foundations for the future. The success, sustainability and competitiveness of Eesti Energia largely depend on the implementation of the projects and initiatives we have planned.

Annual Report

The 2010 financial year was notable for the best-ever economic results, increased investment in the security of supply and the distribution network, increased efficiency, and the partial opening of the electricity market for large consumers.

Annual Report

Despite the economic slowdown, we managed to increase our profitability by nearly 70% in the 2009/10 financial year. Such a significant increase in profits is explained by successful energy trading on foreign markets, sales of shale oil and reductions of costs. In early 2010 we sold the transmission system operator Elering to the Estonian government.

3rd quarter

01.04 - 31.12

2nd quarter

01.04 - 30.09

1st quarter

01.04 - 30.06

Annual Report

In 2009 we opened one of the most powerful wind generator parks in the Baltics in Aulepa. We added to our share of the Estonian market of almost 90% by gaining over 5% of the electricity market in Latvia, and for the first time ever we produced over a million barrels of shale oil.

3rd quarter

01.04 - 31.12

2nd quarter

01.04 - 30.09

1st quarter

01.04 - 30.06

Annual Report

The most important achievements of Eesti Energia in the 2007/08 financial year were the successful launch of the Kõu internet service and the growth of customer satisfaction, along with improvements in general network quality. By entering the markets of Latvia and Lithuania, Eesti Energia became the only energy company to sell electricity to customers in all of the Baltic States.

3rd quarter

01.04 - 31.12

2nd quarter

01.04 - 30.09

1st quarter

01.04 - 30.06

Annual Report

The most important event of the 2006/07 financial year was the launch of the electrical connection between the Baltic States and the Nordic countries through the undersea cable Estlink. We sold electricity to Finland for the first time ever in this year.

3rd quarter

01.04 - 31.12

2nd quarter

01.04 - 30.09

1st quarter

01.04 - 30.06

Annual Report

The main event of the 2005/06 financial year was the start of building work for the undersea cable Estlink to connect Estonia and Finland. The most important funding event for the company was the issuance of long-term Eurobonds worth 300 million euros with a maturity date of 2020.

4th quarter

01.04 - 31.03.2006

3rd quarter

01.04 - 31.12.2005

2nd quarter

01.04 - 30.09.2005

1st quarter

01.04 - 30.06.2005

Annual Report

The most important events of the 2004/05 financial year were the start-up of a new power unit using fluidised bed technology, the introduction of new electricity tariffs, and the completion of the preliminary work on the undersea cable to connect the Baltic States and the Nordic countries. The positive results were built on strong growth in domestic electricity sales and the optimisation of production costs.

4th quarter

01.04 - 31.03.2005

3rd quarter

01.04 - 31.12.2004

2nd quarter

01.04 - 30.09.2004

1st quarter

01.04 - 30.06.2004

Annual Report

For Eesti Energia the 2003/04 financial year was the second consecutive year of economic success. The economic results of the group were affected most strongly by the record sales of electricity. In recognition of the results, the rating agency Moody's upgraded the credit rating of Eesti Energia to A3, which was the highest of any energy company in Eastern Europe. Eesti Energia was also recognised as the most competitive Estonian company of 2003.

4th quarter

01.04 - 31.03.2004

3rd quarter

01.04 - 31.12.2003

2nd quarter

01.04 - 30.09.2003

Contacts for Investor Relations

Kadri Haldre

Head of Investor Relations and Treasury

Phone: +372 465 2887
kadri.haldre@energia.ee

Subscribe to investor news