In 2021, Nebras Power demonstrated solid financial results despite the challenges during the year. Decrease in the Company’s revenue from 2020 to 2021 was due to gradual reduction in Indonesia’s corporate income tax rate announced in 2020, which was partially revised in 2021, and decrease in interest income from lower interest rates and lower deposits driven by investments into both existing and new assets. Year-on-Year decrease in Adjusted EBITDA was additionally impacted by partial sale of interest in Paiton Energy.
At the year-end 2021, our Balance Sheet shows a robust financial position, a well-balanced capital structure and strong liquidity position, which gives Nebras Power comfortable head room to fuel future growth.
Total Assets
*Operating Income
*EBITDA
Total Assets
Operating Income
EBITDA
*Both Operating Income and EBITDA for the year 2019 were adjusted to exclude the results of the Carthage Power Company ("CPC") for comparative purposes. In the consolidated financial statements for the year ended 31 December 2021 the results of the CPC are shown as discontinued operations. Prior to the adjustments Operating Income and EBITDA for the year 2019 amounted to QR 979 million and QR 269 million, respectively.
