Business
Full-year results for the year ended 31/12/22
Full-year results for the year ended 31/12/22.
About this update from Kistos Holdings Plc
[{"type":"text","content":"\n\n \n \n30 May 2023\n \n \nKistos Holdings plc\n \n(\"Kistos\", \"the Company\", or the \"Group\")\n \nFull-year results for the year ended 31 December 2022\n \n \nKistos (LSE: KIST), the low carbon intensity gas producer pursuing energy opportunities in line with the energy transition, is pleased to provide a summary of its audited full-year results for the year ended 31 December 2022. A copy of the Company's full audited annual report and accounts will be made available shortly on the Company's website at www.kistosplc.com.\n \n \n2022 Highlights\n \n· On a pro forma basis, the Group production averaged 10.6 kboe/d (2021: 4.3 kboe/d), reflecting a full-year contribution from the Q10-A gas field offshore the Netherlands, and almost six months production from the Greater Laggan Area (\"GLA\") offshore the UK.\n· Adjusted pro forma EBITDA, which includes a full 12-month contribution from the GLA, was €517.2 million (2021: €102.9 million).\n· Completed the acquisition of a 20% interest from TotalEnergies E&P UK Limited (\"TotalEnergies\") in the GLA, more than doubling Kistos' net daily production.\n· Year-end 2P reserves of 12.7 MMboe increased to 36.3 MMboe on completion of the Mime Petroleum A.S. (\"Mime\") transaction.\n \n \n12 months ended 31 December 2022\n\n\n\n\n\n\n\n\n\n2022 (actual)\n\n\n2022 (pro forma)1\n\n\n2021 (actual)\n\n\n2021 (pro forma)1\n\n\n\n\nGas production2\n\n\nMM Nm3\n\n\n391\n\n\n556\n\n\n145\n\n\n268\n\n\n\n\nTotal production rate3\n\n\nBoe/d\n\n\n10,600\n\n\n10,900\n\n\n4,300\n\n\n5,000\n\n\n\n\nRevenue\n\n\n€'000\n\n\n411,512\n\n\n568,445\n\n\n89,628\n\n\n116,731\n\n\n\n\nAverage realised gas price2\n\n\n€/MWh\n\n\n98.7\n\n\n93.8\n\n\n57.4\n\n\n39.8\n\n\n\n\nUnit opex4\n\n\n€/MWh\n\n\n5.8\n\n\n6.9\n\n\n3.7\n\n\n3.2\n\n\n\n\nAdjusted EBITDA4\n\n\n€'000\n\n\n380,015\n\n\n517,202\n\n\n78,861\n\n\n102,862\n\n\n\n\nStatutory profit/(loss) before tax\n\n\n€'000\n\n\n254,125\n\n\nn/a5\n\n\n(73,857)\n\n\n(65,940)\n\n\n\n\nEffective tax rate\n\n\n%\n\n\n89.8%\n\n\nn/a5\n\n\n45.7%\n\n\nn/a5\n\n\n\n\nClosing cash\n\n\n€'000\n\n\n211,980\n\n\n211,980\n\n\n77,288\n\n\n77,288\n\n\n\n1. Pro forma figures include the GLA as if ...