My first IPO – Ignitis group

Bought 25 shares of Ignitis group for 22,5 EUR/share. Dividends – 1,13EUR/share. Yield on cost after tax – 4,3%. Total forwad annual dividens added – 24 EUR.

Thats right I participated in Ignitis group IPO. Glat that price was 22,5 EUR not the maximum bid of 28 EUR. Company is a Utility and actualy regulated monopolu in Lithuania responsible for electricity and gas retail transmision. Also company is a major electricity generator in Lithuania with focus on renewables. Also very active in renewable projects in whole Baltic/Poland region. I believe that shift to renewable energy is inevitable, hence company target is right.

Now about comapny figures. 2019 sales reached 1,1 bnEUR sligh growth compared to 2018. Adj. Net income 106 mEUR. EPS stands at 1,4 EUR, hence P/E – 16x. Not bad as for renewable utility. Also some major projects are on the way that will most likely boost EPS further. Equity 1,3 bnEUR with total asset of 3,2 bnEUR equity ratio – 40% also ok. Financial debt – 1,1 bnEUR cash – 0,1 bnEUR, EBITDA – 0,2 bnEUR leading to Leverage – 5x. Good as for Utility. All in all financials look good. Dividends of 1,13 EUR/share make 4,3% post tax, also ok. So this was a definat buy for me.

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