Enefit Green Invites Investors to Webinars Presenting Unaudited 2024 Results

Enefit Green, a leading renewable energy producer in the Baltic Sea area, has announced two webinars to present and discuss its unaudited 2024 results. The webinars will take place on 31 October 2024, with one in Estonian at 11:00 EET and the other in English at 13:00 EET. To participate, please follow the provided links.

The company's Q3 2024 results showed mixed performance compared to the same period last year. Electricity production grew by 83 GWh (32%) to 342 GWh, with the output of new wind and solar farms increasing by 97 GWh. However, heat energy production decreased by 34 GWh (30%) to 80 GWh, primarily due to the exit from biomass-related assets. The company's operating income decreased by €1.0m (2%) to €43.5m, mainly due to a decrease in revenue of €5.8m. EBITDA decreased by €0.2m (1%) to €15.7m, while net profit increased by €0.4m (8%) to €5.4m.

Enefit Green's CEO, Juhan Aguraiuja, commented on the results, stating that the company's main goal is to complete all ongoing construction projects and achieve a return on invested capital that exceeds the cost of raised capital. The company has successfully ended a dispute with GE Vernova regarding an incident at the Akmene wind farm and has completed the installation of all turbines at the Sopi-Tootsi wind farm, with power generation already underway. The Sopi solar farm and Kelmė I wind farm have also started generating power, with the Kelmė II wind farm expected to follow later in the year.

The company's management team is focused on stabilizing the availability of new assets at a high level and finalizing assets still under construction, such as the Kelmė II wind farm. They are also exploring alternative options for further value creation in their development portfolio and considering new opportunities for growth in the core power markets of the Baltic States and Poland.

Enefit Green's unaudited 2024 results demonstrate the company's ability to deliver on its strategic objectives and meet market expectations, with a significant increase in electricity production, successful commissioning of new projects, and improved wind conditions contributing to the overall positive performance.



In conclusion, Enefit Green's invitation to investors to participate in the webinars presenting unaudited 2024 results is an opportunity for investors to gain insights into the company's performance, strategic objectives, and future plans. The webinars will provide a platform for investors to engage with the company's management team and ask questions about the results and the company's prospects.