Danel Freiberg
Head of Investor Relations and Treasury
Phone: +372 465 2887
[email protected]
For investors
All the necessary information for the investor
Financial statements
+69.0% vs 2021
+32.4% vs 2021
+37.0% vs 2021
+93.5% vs 2021
+247% vs 2021
Upcoming important dates5 May 20233 August 20232 November 2023Credit ratings and analyses |
Investor newsPressiteated (EN) |
Financing
As of 31 December 2022, Eesti Energia's debt obligations amounted to 1050 million euros and net debt to EBITDA ratio stood at 1.8x (with adjusted EBITDA at 2.3x). The debt obligations of Eesti Energia included Eurobonds in the amount of 500 million euros with maturity in September 2023, loans received from the European Investment Bank in nominal value of 55 million euros, from NIB in nominal value of 80 million euros, from EBRD in nominal value of 7 million euros and loans from commercial banks in the amount of 408 million euros. From group's debt obligations 275 million euros belong to Eesti Energia's renewable subsidiary Enefit Green AS.
The liquidity buffer for the group includes liquid financial assets and undrawn loan facilities. As of 31 December 2022, the amount of undrawn loans amounted to 495 million euros. From this amount loans signed by the parent company Eesti Energia AS amount to 445 million euros, which include two long term loan agreements with the European Investment Bank in a total amount of 245 million euros and revolving credit facilities with commercial banks in the amount of 200 million euros (expiry dates from September 2023 until September 2025). Subsidiary's Enefit Green undisbursed loans amounted to 50 million euros as of 31 December 2022. More information can be found in the 2022 annual report. In February 2023, the Group's parent raised a sustainability linked loan of 600 million euros with a term of 5 years and a variable interest rate to finance the repurchase of bonds which mature in September 2023 and investments in the Group's carbon neutrality strategy.
Since 21 October 2021, Eesti Energia's renewable subsidiary Enefit Green AS is listed on the Nasdaq Tallinn Stock Exchange. More information on Enefit Green's investor website.
Overview of debt obligations
Debt Maturity profile, m €
* As of 31 December 2022
Bonds
| Bonds | Eurobond |
|---|---|
| ISIN | XS1292352843 |
| Issue date | 15 September 2015 |
| Coupon rate | 2,384% |
| Coupon frequency | Annual |
| Lead Managers | Barclays, Deutsche Bank ja Nordea |
| Listing | London |
| Amount outstanding | €500m |
| Maturity date | 22 September 2023 |
Financial statements
3rd quarter
+125.9% vs 2021 Q3
+195.7% vs 2021 Q3
+179.2% vs 2021 Q3
+659.5% vs 2021 Q3
+278.5% vs 2021 Q3
3rd quarter
01.07 - 30.09
3rd quarter interim report (PDF) »
Presentation of the results (PDF) »
Annual Report
Presentation of the results (PDF) »
Conference call recording (m4a) »
3rd quarter
01.07 - 30.09
Presentation of the results (PDF) »
Conference call recording (mp3) »
2nd quarter
01.04 - 30.06
Presentation of the results (PDF) »
Conference call recording (mp3) »
Annual Report
Presentation of the results (PDF) »
Conference call recording (mp3) »
3rd quarter
01.07 - 30.09
Presentation of the results (PDF) »
Conference call recording (mp3) »
2nd quarter
01.04 - 30.06
Presentation of the results (PDF) »
Conference call recording (mp3) »
Annual Report
Presentation of the results (PDF) »
Conference call recording (mp3) »
3rd quarter
01.07 - 30.09
Presentation of the results (PDF) »
Conference call recording (mp3) »
2nd quarter
01.04 - 30.06
Presentation of the results (PDF) »
Conference call recording (mp3) »
Annual report
Presentation of the results (PDF) »
Conference call recording (mp3) »
3rd quarter
01.07 - 30.09
Presentation of the results (PDF) »
Conference call recording (mp3) »
2nd quarter
01.04 - 30.06
Presentation of the results (PDF) »
Conference call recording (mp3) »
Annual report
Presentation of the results (PDF) »
Conference call recording (mp3) »
3rd quarter
01.07 - 30.09
Presentation of the results (PDF) »
Conference call recording (mp3) »
2nd quarter
01.04 - 30.06
Presentation of the results (PDF) »
Conference call recording (mp3) »
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).
Presentation of the results (PDF) »
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).
Presentation of the results (PDF) »
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).
Presentation of the results (PDF) »
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.
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.
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.
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.
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.
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.
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.
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Annual report
For more information on how we progressed towards the ambition in 2021, see the Annual Report for more details?