Ignitis Group beats EBITDA guidance, reports record strategic progress of new green capacities installed

• Investments totaled 720.3 million euros (53.1% to Networks and 39.7% to Green Capacities)
• Installed Green Capacities increased by 0.7 GW from 1.4 GW to 2.1 GW
• Six wind and solar farm projects reached COD in Poland, Lithuania and Latvia
• Ignitis Group has retained ‘BBB+’ credit rating, reaffirmed by S&P in September, and achieved prestigious CDP ‘A’ score for environmental leadership
• Dividends proposed in line with policy (+3.0% year-over-year)

AB “Ignitis grupė” (Ignitis Group), a renewables-focused integrated utility, delivered robust results in 2025 with an adjusted EBITDA of 546.1 million euros, making an 3.4% year-over-year growth and exceeding full-year market guidance of 510–540 million euros. The growth was driven by the stronger performance of two largest segments – Networks and Green Capacities segments.

Investments totaled 720.3 million euros and fell within full-year guidance range of EUR 700–800 million. 53.1% allocated to Networks and 39.7% to Green Capacities, primarily to new solar and onshore wind expansion projects. With several projects reaching COD, the total investments have decreased compared to 2024.  

Following a regular review in September, S&P Global Ratings reaffirmed Ignitis Group’s credit rating at ‘BBB+’ with a stable outlook.

“With robust 2025 results, Ignitis Group has reinforced its position as a leading force in the Baltic energy transition. Our targeted investments across Lithuania, Poland, Latvia and Estonia strengthen regional energy security and build an energy‑abundant ecosystem, leading to globally competitive prices for consumers, and sustainable economic growth", says Darius Maikštėnas, CEO of Ignitis Group.

In 2025, Ignitis Group reinforced its leadership in the Baltic region energy transition by focusing on green generation and green flexibility projects.

During the reporting period, Ignitis Group increased its installed green capacities by 0.7 GW to 2.1 GW as six projects reached commercial operation dates. Notable milestones included the launch of Silesia wind farm II (136.8 MW) in Poland – one of the country’s largest onshore wind farms; Kelmė wind farm (313.7 megawatts (MW)) in Lithuania – the largest onshore wind farm in the Baltics; and the largest solar farm cluster in Latvia, comprising Varme solar farm (94 MW), Stelpe solar farm I (72.5 MW) and Stelpe solar farm II (72.5 MW). These projects collectively added 450.5 MW of onshore wind and 263.0 MW of solar capacity. 

Additionally, the final investment decisions made for battery energy storage systems (BESS) in Lithuania at Kelmė (147.4 MW), Kruonis (99.2 MW) and Mažeikiai (45.1 MW).  

In the Networks segment, Ignitis Group continued to invest in modernizing and expanding its distribution infrastructure. The Group has updated its 10-year (2024–2033) Investment Plan for the distribution networks and aligned it with the regulator (NERC) on 23 January 2025. The plan foresees a 40% increase in Investments to 3.5 billion euros compared to the previous 10-year Investment Plan submitted to NERC (2.5 billion euros for 2022–2031). Furthermore, NERC has adopted resolutions, setting the 2026 RAB at 1.9 billion euros (1.8 billion euros in 2025), WACC (weighted average) – 5.74% (5.79% in 2025), and additional tariff component – 51.8 million euros (37.5 million euros in 2025). Most notably, the Ignitis Group successfully completed the mass smart meter roll-out with 1.3 million smart meters installed.

In the Reserve Capacities segment, Ignitis Group has won a Polish capacity mechanism auction for ensuring 381 MW and 484 MW capacity availability in first and fourth quarters of 2026 for approximately 8.2 million euros and 11.5 million euros respectively. After the reporting period, Ignitis Group won another Polish capacity mechanism auction for ensuring 148 MW capacity in 2030 for approximately 14.7 million euros.

In the Customers & Solutions segment, Ignitis Group significantly expanded its electric vehicle charging network by installing 708 EV charging points over the year, totaling 1,799 charging points across the Baltics. Also, the Group has 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 from January 2026.

Sustainability is a key part of the Group's strategy, focusing on decarbonization, health, and safety. In 2025, green share of generation amounted to 70.2%, carbon intensity of Scope 1 and 2 emissions amounted to 248 g CO2-eq/kWh, and there were no fatalities. Ignitis Group has been recognized by CDP, a global environmental non-profit, for its leadership in corporate transparency and performance on climate change, securing a place on CDP’s respected annual A List.

In line with its Dividend Policy, Ignitis Group proposes to distribute a total dividend of 1.366 euros per share (+3.0% year-over-year) for 2025, amounting to 98.9 million euros. Based on year-end closing prices, this represents a 6.2–6.4% yield for global depositary receipt holders and ordinary registered shareholders. The total dividend per share for 2025 comprises a dividend of EUR 0.683 paid for the first half of 2025 and a proposed dividend of EUR 0.683 for the second half, which is subject to the decision at Ignitis Group's Annual General Meeting of Shareholders on 25 March 2025.

For 2026, Ignitis Group expects adjusted EBITDA to be in the range of 550-600 million euros and investments in the range of 590-690 million euros.