Preliminary ESO financial data for 4 months of 2020
4 months of 2020 | 4 months of 2019** | Change | |
Revenue | EUR 166.2 million | 11.2% | |
Adjusted EBITDA* | 6.1% |
Revenue of the electricity and natural gas distribution company ESO totaled EUR 166.2 million in 4 month of 2020 and increased by 11.2% compared to the 4 months of 2019, when it was
Positive impact on the Company’s revenue compared to the previous reporting period had on average 11 per cent higher price of power distribution service, which is comprised of power transmission, distribution and public service obligations (PSO) components and is approved by the regulating authority.
During 4 months of 2020, ESO generated
*The Company’s preliminary EBITDA are reported after the adjustments made by the management by eliminating deviations in actual and regulated income and the impact of one-off factors. These adjustments are made aiming to disclose the results of the Company’s operating activities after the elimination of the impact of atypical, one-off factors or factors that are not directly related to the current reporting period. All adjustments made by the management are disclosed in the Company’s interim and annual reports.
** Following the extensive review of relevant industry practice and in order to be better comparable to the Company’s peers on international level, the Company’s accounting policies were changed. Changes in accounting policies are related to the application of IFRS 15 (International Financial Reporting Standard): (1) netting the revenue from public service obligations (PSO) with the corresponding costs (previously PSO revenue and costs were accounted for separately) and (2) deferring the recognition of the revenue for the connection of new customers over the useful service life of the infrastructure created (previously, in the natural gas segment and in the electricity segment, as of
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