Complete restoration of functional and net profit from the fourth quarter, after the integration of the new system usage fee from September, reflect the results of the group ADMI for 2022.
consolidated profit before taxes, interest and amortization (EBITDA) was 195.2 million euros (from 189.8 million euros in 2021), and in the fourth quarter they reached 51.5 million euros, an increase of 18.2%. Like-for-like EBITDA was €189.6 million compared to €190.6 million in 2021.
Net profit for the year was 58.2 million euros (-16.1% compared to 2021), and net income in the fourth quarter was 17.1 million euros respectively, up 58.4%.
Total revenues for 2022 were 292.3 million euros, up 2.5% on 2021, and in the fourth quarter they were respectively 81.3 million euros, an increase of 13.3%. Transmission system rental income was €272 million compared to €270.4 million in 2021. Taking into account the revenues of the balancing market, which amounted to 11.9 million euros in 2022, this is an increase of 5% compared to 2021.
Listed ADMIE Holdings had net income of €29.1 million and management will propose a gross interim dividend per share of €0.058 (for fiscal year 2023). The Board of Directors of ADMIE, in accordance with the shareholder agreement, will offer shareholders a dividend distribution of 50% of the net profit for the financial year 2022, which corresponds to the amount of 29.4 million euros.
In 2022, the group, under difficult circumstances, recorded another year of large investments, which amounted to 354.5 million euros. In terms of profitability, the operator’s results were affected by a significant delay in the introduction of the new system usage fee, effective September 1, and lower energy demand, but there was a strong recovery in the fourth quarter. from economic indicators.
“ADMIE continues to invest in sustainable development, modernization and digital transformation network and growing into one of Europe’s most modern and extroverted managers, supporting energy transition efforts while ensuring the stability of the electricity supply system,” said ADMIE President and CEO Manos Manousakis, commenting on the results.
Source: Kathimerini
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