{"id":101147,"date":"2025-11-12T07:09:05","date_gmt":"2025-11-12T07:09:05","guid":{"rendered":"https:\/\/pakistaninewspaperlist.com\/news\/first-nine-months-2025-interim-report-strong-earnings-and-business-plan-delivery-with-0-7-gw-installed-green-capacities-full-year-2025-guidance-for-adjusted-ebitda-and-investments-updated\/"},"modified":"2025-11-12T07:09:05","modified_gmt":"2025-11-12T07:09:05","slug":"first-nine-months-2025-interim-report-strong-earnings-and-business-plan-delivery-with-0-7-gw-installed-green-capacities-full-year-2025-guidance-for-adjusted-ebitda-and-investments-updated","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/first-nine-months-2025-interim-report-strong-earnings-and-business-plan-delivery-with-0-7-gw-installed-green-capacities-full-year-2025-guidance-for-adjusted-ebitda-and-investments-updated\/","title":{"rendered":"First nine months 2025 interim report: strong earnings and business plan delivery with +0.7 GW installed green capacities. Full-year 2025 guidance for Adjusted EBITDA and Investments updated"},"content":{"rendered":"
\n

AB \u201cIgnitis grup\u0117\u201d publishes its First nine months 2025 interim report, which is attached to this notice.<\/p>\n

Financial performance<\/b><\/p>\n

Our Adjusted EBITDA for the first nine months of 2025 amounted to EUR 405.1 million (+2.0% YoY). The growth was driven by the stronger performance of our two largest segments: Green Capacities and Networks. The Green Capacities segment remained the largest contributor with a 53.2% share of our total Adjusted EBITDA.\u00a0<\/p>\n

In 9M 2025, our Investments amounted to EUR 529.9 million (-9.2% YoY). 51.3% of the total Investments were made in the Networks segment and 41.4% in the Green Capacities segment, primarily to new solar, onshore wind and Kruonis PSHP expansion projects. With several projects reaching\u00a0COD, the total Investments have decreased compared to 9M 2024.\u00a0<\/p>\n

Despite the 10.6% increase in our Net Debt, our leverage metrics remained strong. The FFO LTM\/Net Debt ratio decreased by 6.3 pp to 23.4% (compared to 29.7% as of 31 December 2024). Also, S&P Global Ratings reaffirmed our \u2018BBB+\u2019 (stable outlook) credit rating.<\/p>\n

Business development<\/b>\u00a0<\/p>\n

Green Capacities:<\/u> Installed Capacity increased to 2.1 GW (from 1.4 GW). Secured Capacity increased to 3.4 GW (from 3.1 GW).<\/p>\n

Key milestones:\u00a0
\u2013 reached COD at Kelm\u0117 WF (313.7 MW) in Lithuania;
\u2013 reached COD at Silesia WF II (136.8 MW) in Poland;
\u2013 reached COD at Varme SF (94 MW) in Latvia;
\u2013 reached COD at Stelpe SF I (72.5 MW) in Latvia;
\u2013 reached COD at Stelpe SF II (72.5 MW) in Latvia;
\u2013 reached COD at Polish solar portfolio (24 MW) in Poland;
\u2013 made Final Investment Decisions for Kelm\u0117 (147.4 MW), Kruonis (99.2 MW), and Ma\u017eeikiai (45.1 MW) BESS projects in Lithuania.<\/p>\n

Networks<\/u>: 3.5 EURb (+40%) Investments set in the 10-year (2024\u20132033) Investment Plan aligned with the regulator (NERC) on 23 January 2025; 2026 total RAB set at 1.9 EURbn (+0.1 EURbn), WACC (weighted average) at 5.74% (-0.05 pp), and additional tariff component at 51.8 EURm (+38.1%); the number of installed smart meters reached 1.24 million.<\/p>\n

Reserve Capacities<\/u>: won a Polish capacity mechanism auction for ensuring 381 MW and 484 MW capacity availability in Q1 and Q4 2026.<\/p>\n

Customers & Solutions<\/u>: signed a 7-year PPA with Lithuanian TSO (Litgrid) at a fixed price of EUR 74.5\/MWh for up to 160 GWh\/year, effective January 2026; signed a grant agreement of up to 3.8 EURm to develop EV charging infrastructure in the Baltics; 1,558 (+467 since 31 December 2024) EV charging points installed.<\/p>\n

Sustainability<\/b><\/p>\n

Our Green Share of Generation amounted to 66.0% (-17.6 pp YoY). The decrease was driven by the proportionally higher electricity generation at Elektr\u0117nai Complex (Reserve Capacities) in relation to the new services provided.<\/p>\n

In 9M 2025, our total GHG emissions amounted to 3.48 million t CO2-eq (+22.5% YoY). The new services provided by Elektr\u0117nai Complex led to a 92.1% YoY increase in Scope 1 emissions. Scope 2 emissions stayed at relatively similar levels (-0.9% YoY), and Scope 3 emissions increased by 14.4% YoY due to higher electricity sales, especially in Poland.<\/p>\n

Carbon intensity (Scope 1 & 2) amounted to 223 g CO2-eq\/kWh (+9.3% YoY). The increase was driven by the intensified electricity generation from natural gas at Elektr\u0117nai Complex.<\/p>\n

In 9M 2025, no fatal accidents were recorded. Our employee TRIR stood at 0.97 (-0.21 YoY) and contractor TRIR at 0.71 (+0.34 YoY), both well below the targeted threshold. Our eNPS remained at a high level of 66.8 (-0.2 YoY), and 28.0% of the top management positions were held by women (+3.7% YoY).<\/p>\n

Shareholder returns and 2025 outlook<\/b>\u00a0<\/p>\n

In line with our Dividend Policy, a dividend of EUR 0.683 per share, corresponding to EUR 49.4 million, was paid for H1 2025.<\/p>\n

Following strong 9M 2025 results, we narrow our full-year 2025 Adjusted EBITDA guidance range to EUR 510\u2013540 million (previously EUR 500\u2013540 million). Also, we update our Investments guidance to EUR 700\u2013800 million (previously EUR 700\u2013900 million).<\/p>\n

Key financial indicators (APM<\/b>1<\/b><\/sup>)<\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
EUR, millions<\/b>\u00a0<\/td>\n9M 2025<\/b>\u00a0<\/td>\n9M 2024<\/b>\u00a0<\/td>\nChange<\/i><\/b>\u00a0<\/td>\n<\/tr>\n
Adjusted EBITDA\u00a0\u00a0<\/td>\n405.1<\/td>\n397.0<\/td>\n2.0%<\/i><\/td>\n<\/tr>\n
Green Capacities\u00a0<\/td>\n215.4<\/td>\n180.9<\/td>\n19.1%<\/i><\/td>\n<\/tr>\n
Networks\u00a0<\/td>\n192.8<\/td>\n165.6<\/td>\n16.4%<\/i><\/td>\n<\/tr>\n
Reserve Capacities\u00a0<\/td>\n34.7<\/td>\n36.7<\/td>\n(5.4%)<\/i><\/td>\n<\/tr>\n
Customers & Solutions\u00a0<\/td>\n(43.0)<\/td>\n11.1<\/td>\nn\/a<\/i><\/td>\n<\/tr>\n
Other activities and eliminations2<\/sup>\u00a0<\/td>\n5.2<\/td>\n2.7<\/td>\n92.6%<\/i><\/td>\n<\/tr>\n
Adjusted EBITDA Margin\u00a0\u00a0<\/td>\n21.9%<\/td>\n24.5%<\/td>\n(2.6 pp)<\/i><\/td>\n<\/tr>\n
EBITDA\u00a0\u00a0<\/td>\n354.4<\/td>\n397.8<\/td>\n(10.9%)<\/i><\/td>\n<\/tr>\n
Adjusted EBIT<\/td>\n245.1<\/td>\n264.0<\/td>\n(7.2%)<\/i><\/td>\n<\/tr>\n
Operating profit (EBIT)<\/td>\n194.4<\/td>\n264.8<\/td>\n(26.6%)<\/i><\/td>\n<\/tr>\n
Adjusted Net Profit\u00a0<\/td>\n177.6<\/td>\n213.3<\/td>\n(16.7%)<\/i><\/td>\n<\/tr>\n
Net profit\u00a0\u00a0<\/td>\n132.4<\/td>\n214.0<\/td>\n(38.1%)<\/i><\/td>\n<\/tr>\n
Investments\u00a0<\/td>\n529.9<\/td>\n583.7<\/td>\n(9.2%)<\/i><\/td>\n<\/tr>\n
Networks\u00a0<\/td>\n271.6<\/td>\n217.1<\/td>\n25.1%<\/i><\/td>\n<\/tr>\n
Green Capacities\u00a0<\/td>\n219.2<\/td>\n335.2<\/td>\n(34.6%)<\/i><\/td>\n<\/tr>\n
Customers & Solutions\u00a0<\/td>\n18.8<\/td>\n17.1<\/td>\n9.9%<\/i><\/td>\n<\/tr>\n
Reserve Capacities<\/td>\n7.5<\/td>\n2.3<\/td>\n226.1%<\/i><\/td>\n<\/tr>\n
Other activities and eliminations2<\/sup>\u00a0<\/td>\n12.8<\/td>\n12.0<\/td>\n6.7%<\/i><\/td>\n<\/tr>\n
FFO\u00a0\u00a0<\/td>\n290.8<\/td>\n353.0<\/td>\n(17.6%)<\/i><\/td>\n<\/tr>\n
FCF\u202f\u00a0<\/td>\n(122.6)<\/td>\n(124.5)<\/td>\n1.5%<\/i><\/td>\n<\/tr>\n
Adjusted ROE LTM<\/td>\n10.0%<\/td>\n13.7%<\/td>\n(3.7 pp)<\/i><\/td>\n<\/tr>\n
ROE LTM<\/td>\n8.1%<\/td>\n14.4%<\/td>\n(6.3 pp)<\/i><\/td>\n<\/tr>\n
Adjusted ROCE LTM<\/td>\n8.1%<\/td>\n10.3%<\/td>\n(2.2 pp)<\/i><\/td>\n<\/tr>\n
ROCE LTM<\/td>\n6.9%<\/td>\n10.9%<\/td>\n(4.0 pp)<\/i><\/td>\n<\/tr>\n
EPS\u00a0\u00a0<\/td>\n1.83<\/td>\n2.96<\/td>\n(38.2%)<\/i><\/td>\n<\/tr>\n
DPS<\/td>\n1.35<\/td>\n1.31<\/td>\n3.1%<\/i><\/td>\n<\/tr>\n
\u00a0<\/td>\n30<\/b> Sep<\/b> 2025<\/b>\u00a0<\/td>\n31 Dec 2024<\/b>\u00a0<\/td>\nChange<\/i><\/b>\u00a0<\/i><\/td>\n<\/tr>\n
Net Debt\u00a0\u00a0<\/td>\n1,782.7<\/td>\n1,612.3<\/td>\n10.6%<\/i><\/td>\n<\/tr>\n
Net Working Capital\u00a0\u00a0<\/td>\n31.8<\/td>\n102.6<\/td>\n(70.8)<\/i><\/td>\n<\/tr>\n
Net Debt\/Adjusted EBITDA LTM, times\u00a0\u00a0<\/td>\n3.33<\/td>\n3.05<\/td>\n9.2%<\/i><\/td>\n<\/tr>\n
FFO LTM\/Net Debt\u00a0\u00a0<\/td>\n23.4%<\/td>\n29.7%<\/td>\n(6.3 pp)<\/i><\/td>\n<\/tr>\n<\/table>\n

1<\/sup>.<\/sup>\u00a0All, except \u2018Net profit\u2019, are Alternative Performance Measures (APMs). Definitions and formulas of the financial indicators are available<\/sup> on<\/sup> our<\/sup> website<\/sup><\/a>.<\/sup>\u00a0
2<\/sup>.<\/sup> \u2018Other activities and eliminations\u2019<\/sup> includes<\/sup> consolidation adjustments,<\/sup> related-party transactions and<\/sup> financial results of the parent company.<\/sup>\u00a0<\/p>\n

Earnings call<\/b>\u00a0<\/p>\n

In relation to the announcement of 9M 2025 results, an earnings call for investors and analysts will be held on Wednesday, 12 November 2025, at 1:00 pm Vilnius \/ 11:00 am London time.\u00a0\u00a0<\/p>\n

To join the earnings call online or by phone, please register at:
https:\/\/ignitis-9m2025-results.open-exchange.net\/<\/u><\/a><\/p>\n

All questions of interest can be directed to the Group\u2019s Investor Relations team in advance, after registering, or live during the earnings call.<\/p>\n

Presentation slides will be available for download prior the call at:
https:\/\/ignitisgrupe.lt\/en\/reports-presentations-and-fact-sheets<\/a><\/p>\n

The First nine months 2025 interim report, Fact Sheet (in Excel) and other published documents will be available for download at:
https:\/\/ignitisgrupe.lt\/en\/reports-presentations-and-fact-sheets<\/a> <\/p>\n

For additional information, please contact:<\/p>\n

Communications<\/b>
Valdas Lopeta
+370 621 77993
valdas.lopeta@ignitis.lt<\/a><\/p>\n

Investor Relations<\/b>
Ain\u0117 Riffel-Grinkevi\u010dien\u0117
+370\u00a0643 14925
aine.riffel-grinkeviciene@ignitis.lt<\/a><\/p>\n