14.04.2021
The financial results of the power distribution system operator Sadales tīkls AS for the year 2020 were published today after being approved at the shareholders’ meeting on 30 March. Last year, the turnover of Sadales tīkls amounted to EUR 296.3 million – 24.6 million less than in 2019. The company’s profit was EUR 22.1 million, dropping by EUR 7.3 million or 24.8% in comparison to 2019. Last year, the financial indicators of the company were mainly influenced by a 5.5% average reduction of tariffs for power distribution system services starting with 1 January 2020, as well as a 3.8% downturn in the volume of power distribution system services that was caused by COVID-19 and the warm weather at the start of the year.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) reduced by EUR 19.5 million, and the EBITDA margin amounted to 36.5%.
Despite the challenges faced in 2020, Sadales tīkls managed to improve its power supply safety and quality metrics, actively continued the smart meter installation programme, developed innovative infrastructure solutions, and took part in the creation of the European energy system IT platform “OneNeFFt” – the project was started last October and its participants must come up with a prototype in three years. In addition, the company continued raising awareness on domestic electrical safety by carrying out information campaigns.
In 2020, the demand for the distribution service reached 6,286 GWh – 247 GWh less than in the previous year. Power consumption fell among all user groups, except the population (household) segment. Compared to 2019, mainly due to COVID-19, the volume of power consumption fell by 8.9% in the industrial sector, by 7.4% in the trade and catering sector, by 2.2% at agricultural facilities, and by 5.4% in the group of other legal persons, including culture and sports facilities, and hotels. Whereas power consumption among households increased by 4.1% last year, which was mainly facilitated by remote work and education.
By carrying out electrical network restoration and modernisation works, last year, compared to 2019, the number of electrical network faults was reduced by more than 1,500 or 8.4%. Respectively, 2020 saw a decrease in the average outage duration for each customer served (SAIDI) and the average number of interruptions per customer (SAIFI) in comparison to the year before. The distribution system’s average interruption duration per consumer decreased by 27 minutes last year. [1]
In 2020, 161,100 smart meters were installed in the electrical network, bringing the total number to 850,500 or 77% of all customers having a smart meter, and they account for more than 90% of the total power consumption. Also, last year the automatic fault localisation system was implemented in 100% of medium voltage power lines, making it possible to quickly localise and prevent faults in the electrical network.
A more extensive audited and shareholder-approved financial report of Sadales tīkls on the year 2020 is available on the company website www.sadalestikls.lv
Sadales tīkls AS is a power supply company, ensuring the operation, restoration and planned development of the electrical network, monitoring of electric power consumption, loss prevention measures and electricity metering, as well as the installation of new connections. Latvenergo AS is the sole shareholder of Sadales tīkls AS.
Additional information:
Alīna Kozlovska | Press Secretary | Sadales tīkls AS
+371 26123379 | alina.kozlovska@sadalestikls.lv
[1]Compared to the year before, the index was affected by mass power outages. Despite the mass outages, SAIDI has been reduced by 19 minutes.