Q4 2024 Ignitis Grupe AB Earnings Call Transcript
Key Points
- Ignitis Group AB (STU:IGV0) achieved a record high adjusted EBITDA of EUR527.9 million in 2024, representing an 8.9% year-over-year increase.
- The company expanded its green capacities portfolio by 0.8 gigawatts, reaching a total of 8 gigawatts.
- Despite heavy investments, Ignitis Group AB (STU:IGV0) maintained a strong balance sheet with a net debt to adjusted EBITDA ratio of 3.05 times.
- The company plans to distribute a dividend of EUR1.33 per share, a 3.1% increase over the previous year.
- S&P reaffirmed Ignitis Group AB (STU:IGV0)'s BBB+ credit rating with a stable outlook, reflecting its solid investment grade status.
- The Customers & Solutions segment experienced a significant decline in EBITDA, driven by lower B2B natural gas supply results and ongoing losses in B2C electricity supply.
- The Curonian Nord project faces potential delays due to challenges in securing long-term power offtake and financing difficulties.
- The Silesia II wind farm in Poland is expected to reach full operational capacity later than initially planned, now anticipated in H2 2025.
- The company's free cash flow was negative at minus EUR193.9 million, primarily due to investments exceeding EBITDA.
- Scope 1 greenhouse gas emissions increased by 14.8% due to higher energy production, despite reductions in Scope 2 and Scope 3 emissions.
Good afternoon everyone and welcome to Ignius Grupe full year 2024 earnings call. Thank you for joining us today. I'm Aine Riffel- Grinkeviciene, Head of Investor Relations, and I will be moderating today's presentation. Our CEO and CFO will present this strategic and financial performance for 2024, followed by a question and answer session.
Before we begin, please note that today's presentation contains forward-looking statements subject to risks and uncertainties. These statements reflect management current beliefs, expectations, and assumptions, and actual results may differ materially.
With that, I would like to hand over to Daris to start with the strategic highlights.
Good afternoon all. Welcome to our full year 2024 results call. In 2024, we once again delivered strong underlying results. Our adjusted EBITDA reached a record high of EUR527.9 million
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