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MarketScreener Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF LITHUANIA  >  AB Ignitis grupe    IGN1L   LT0000115768

AB IGNITIS GRUPE

(IGN1L)
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Ignitis grupe : Regarding the agreement signed by Mažeikiai wind farm developer for the supply, construction and maintenance services

11/24/2020 | 03:55am EST

AB Ignitis Grupė (hereinafter – Ignitis Grupė) informs that on 23 November 2020UAB VVP Investment (hereinafter – VVP Investment), a company controlled by its subsidiary company UAB Ignitis Renewables, signed an agreement (hereinafter – the agreement) with Nordex Energy SE & Co. KG regarding the turbine supply, construction and maintenance services. The services will be provided for the development of wind farm in Mažeikiai region (hereinafter – Mažeikiai wind farm) overseen by VVP Investment.

14 wind turbines will be installed in Mažeikiai wind farm with the total operational capacity of 63 MW. Construction is estimated to be completed before the end of 2022. According to the agreement, Nordex Energy SE & Co. KG will perform service and maintenance of the wind farm for 15 years after its construction.

Total cost of turbines, construction works as well as maintenance service agreement will amount to EUR 77.5m (excluding VAT).

The agreement was signed after the conclusion of the public procurement tender, during which the offers were evaluated in terms of price and other criteria such as: planned production of the wind farm, project implementation period, construction guarantee as well as evaluation of payment terms.

The developer of Mažeikiai wind farm, VVP Investment, is owned by the Group since the end of 2018. Total planned investments into this project amounts to over EUR 80m.

UAB Ignitis Renewables manages renewable sources projects in the Baltics and Poland and is responsible for the effectiveness of operational wind farms, supervision of farms under construction and their development. By implementing new wind and solar (green) energy projects, the company contributes to the strategic goals of Ignitis Grupė by increasing its green production portfolio.

Artūras Ketlerius, Head of Public Relations
Tel. +370 620 76076
E-mail arturas.ketlerius@ignitis.lt 


© OMX, source OMX

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Financials
Sales 2020 1 157 M 1 408 M 1 408 M
Net income 2020 104 M 127 M 127 M
Net Debt 2020 741 M 901 M 901 M
P/E ratio 2020 10,9x
Yield 2020 5,27%
Capitalization 1 612 M 1 962 M 1 962 M
EV / Sales 2020 2,03x
EV / Sales 2021 1,99x
Nbr of Employees 3 829
Free-Float 26,9%
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Mean consensus BUY
Number of Analysts 2
Average target price 23,50 €
Last Close Price 21,70 €
Spread / Highest target 10,6%
Spread / Average Target 8,29%
Spread / Lowest Target 5,99%
EPS Revisions
Managers and Directors
NameTitle
Darius Maikštenas Chief Executive Officer
Darius Daubaras Chairman-Supervisory Board
Darius Kašauskas Treasury Director & Head-Finance
Aušra Vickackiene Member-Supervisory Board
Daiva Lubinskaite-Trainauskiene Independent Member-Supervisory Board
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