Q3 2025 Ignitis Grupe AB Earnings Call Transcript
Key Points
- Adjusted EBITDA increased by 2% year-over-year to EUR 405.1 million, indicating strong financial performance.
- Installed capacity grew by 0.7 gigawatts to 2.1 gigawatts, showcasing strategic growth in green energy projects.
- Maintained a robust balance sheet with a net debt to adjusted EBITDA ratio of 3.33 times and reaffirmed BBB+ credit rating with a stable outlook by S&P Global Ratings.
- Significant progress in green capacities with the launch of major projects like Kelmâ wind farm and Silesia II wind farm.
- Secured EUR 318 million long-term financing for the Kelmâ wind farm, marking the largest debt financing transaction for the company.
- Adjusted net profit decreased by 17% to EUR 177.6 million due to higher depreciation and amortization expenses.
- Return on capital employed decreased by 2.2 percentage points to 8.1%, primarily due to lower results in the Customers & Solutions segment.
- Green share of electricity generation decreased by 17.6 percentage points to 66.0% due to higher generation at Elektrânai Complex.
- Greenhouse gas emissions increased by 22.5% year-over-year, driven by a significant rise in Scope one emissions.
- Free cash flow remained negative at EUR 122.6 million, indicating cash flow challenges.
Good afternoon, and welcome to Ignitis Group's earnings call for the first nine months of 2025. Today, we will provide an overview of our operational and financial performance for the reporting period. Following the presentation, we will open the floor for a question-and-answer session.
Before we begin, please note that today's presentation contains forward-looking statements. These statements reflect current assumptions and expectations of our management team and are subject to risks and uncertainties. Actual results may differ materially from those expressed or implied. I will now hand over to the management team to start the presentation.
Good afternoon, everyone, and thank you for joining us today. In the first nine months of 2025, we delivered strong financial and operational results with key highlights as follows, first, our adjusted EBITDA reached EUR 405.1 million, representing a 2% year-over-year increase. Second, our installed capacity increased by
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