In connection with the interim relief applied on a temporary basis with regards to the Nelja Energia deal, Eesti Energia explains that Enefit Green completed the acquisition of Nelja Energia on 6th November 2018 by acquiring 100% of the shares of Nelja Energia after obtaining merger clearance from the Estonian Competition Authority. Consequently, the merger of Enefit Green and Nelja Energia was completed before the submission of the complaint by Skinest, and the implementation of the interim relief by the court on the basis thereof.

On November 7, 2018 Eesti Energia AS’s fully owned subsidiary Enefit Green AS as the buyer, and Vardar Eurus AS and minority shareholders as the sellers closed the transaction relating to the 100% of the shares in Nelja Energa AS, a renewable energy producer and developer in the Baltic countries. Upon closing, Enefit Green AS, a wholly owned subsidiary of Eesti Energia AS, has paid the purchase consideration to the sellers and has been registered as the sole shareholder of Nelja Energia AS in the share register. The share purchase agreement relating to the transaction was signed in May 2018.

The sales revenues of Eesti Energia Group amounted to EUR 199.7 million in the third quarter of 2018 (+26.7% year-on-year). Group EBITDA reached EUR 58.4 million (+8.1% year-on-year). The Group’s net profit equalled EUR 10.9 million in the third quarter of 2018 (-32.8% year-on-year).

On 30 October 2018 Eesti Energia will publish its Q3 2018 results. Introducing the results for investors will take place on 30 October at 11:00 London time, 12:00 Frankfurt time and 13:00 Tallinn time.

Eesti Energia’s renewable energy company Enefit Green will build seven megawatts of solar power plants within this year across Estonia. This year, Enefit Green invests a total of five million euros in the development of solar energy.

From the 6th August, the client services of Eesti Energia will be led by Jüri Teemant, who has led the business client unit of Elisa Eesti for the past 7 years. As the Chief Customer Officer, Teemant will start to carry out the strategy for the client services of Eesti Energia with the goal of reaching 1 million satisfied customers in six Baltic Sea countries by 2022.

The energy group earned in the second quarter of 2018 a net profit of 15 million euros, which is 12% more compared to the same period last year. The turnover of Eesti Energia grew by 5% in yearly comparison and reached 186 million euros. EBITDA decreased by 17% to 53 million euros.

The sales revenues of Eesti Energia Group amounted to EUR 185.8 million in the second quarter of 2018 (+4.7% year-on-year). Group EBITDA reached EUR 53.0 million (-17.1% year-on-year). The Group’s net profit equalled EUR 14.7 million in the second quarter of 2018 (+12.0% year-on-year).