First six months 2026 interim report: sustained strategic progress and consistent financial performance. Full-year 2026 guidance for Adjusted EBITDA and Investments reiterated
AB “Ignitis grupė” publishes its First six months 2026 interim report, which is attached to this notice.
Financial performance
Our Adjusted EBITDA for the first six months of 2026 amounted to EUR 306.6 million (+1.9% YoY). The growth was driven by the stronger performance of the Networks and Customers & Solutions business segments.
In 6M 2026, our Investments amounted to EUR 306.1 million (-10.8% YoY). Networks accounted for 68.0% of the total Investments, and Green Capacities for 26.3%. The increase in Investments in the Networks segment, primarily related to maintenance and expansion of the electricity distribution network, was outweighed by lower Investments in the Green Capacities segment, as several projects reached COD in 2025.
As of 30 June 2026, our Net Debt amounted to EUR 1,925.3 million, remaining largely unchanged, as proceeds from the sale of a 49% stake in Vilnius CHP covered the dividends paid. Supported by an increase in FFO LTM, our FFO LTM/Net Debt ratio improved to 22.2% (compared to 21.0% as of 31 December 2025). Also, after reporting period, S&P Global Ratings reaffirmed our ‘BBB+’ (stable outlook) credit rating.
Business development
Green Capacities:
- Installed Capacity stands at 2.1 GW, with additional 0.6 GW Under Construction;
- debut asset rotation transaction completed;
- Final Investment Decision made for the Tume BESS (107 MW / 215 MWh) project in Latvia after the reporting period.
Customers & Solutions:
- 1,907 (+108 since 31 December 2025) EV charging points installed.
Sustainability
Safeguarding the health and safety of our employees and contractors is among the Group’s highest priorities. However, during the reporting period, we had one fatal contractor incident. We are committed to take every possible measure to prevent such tragedies in the future. Our employee TRIR amounted to 0.48 (-0.24 YoY), and contractor TRIR to 1.11 (+0.68 YoY).
Our carbon intensity (Scope 1 & 2) amounted to 187 g CO2-eq/kWh (-20.8% YoY). The decrease was driven by lower electricity generation from natural gas at Elektrėnai Complex.
Shareholder returns and 2026 outlook
In line with our Dividend Policy, for 6M 2026 we intend to distribute a dividend of EUR 0.704 per share (+3.1% YoY), corresponding to EUR 51.0 million, which is subject to the decision of our General Meeting to be held on 9 September 2026.
We reiterate our full-year 2026 Adjusted EBITDA guidance of EUR 550–600 million, and Investments guidance of EUR 590–690 million.
Key financial indicators (APM1)
| EUR, millions | 6M 2026 | 6M 2025 | Change | |
| Adjusted EBITDA | 306.6 | 300.8 | 1.9% | |
| Green Capacities | 149.2 | 166.6 | (10.4%) | |
| Networks | 147.3 | 132.6 | 11.1% | |
| Reserve Capacities | 17.9 | 29.1 | (38.5%) | |
| Customers & Solutions | 0.2 | (27.7) | n/a | |
| Other activities and eliminations2 | (8.0) | 0.2 | n/a | |
| Adjusted EBITDA Margin | 20.4% | 22.5% | (2.1 pp) | |
| EBITDA | 303.5 | 262.5 | 15.6% | |
| Adjusted EBIT | 175.6 | 198.6 | (11.6%) | |
| Operating profit (EBIT) | 172.5 | 160.3 | 7.6% | |
| Adjusted Net Profit | 115.8 | 146.2 | (20.8%) | |
| Net profit | 113.2 | 111.4 | 1.6% | |
| Investments | 306.1 | 343.2 | (10.8%) | |
| Networks | 208.3 | 165.2 | 26.1% | |
| Green Capacities | 80.4 | 156.4 | (48.6%) | |
| Customers & Solutions | 8.0 | 10.1 | (20.8%) | |
| Reserve Capacities | 2.8 | 1.0 | 180.0% | |
| Other activities and eliminations2 | 6.6 | 10.5 | (37.1%) | |
| FFO | 251.4 | 225.9 | 11.3% | |
| FCF | 5.3 | 64.0 | (91.7%) | |
| Adjusted ROE LTM | 7.6% | 10.7% | (3.1 pp) | |
| ROE LTM | 6.5% | 9.0% | (2.5 pp) | |
| Adjusted ROCE LTM | 6.7% | 8.6% | (1.9 pp) | |
| ROCE LTM | 6.1% | 7.7% | (1.6 pp) | |
| EPS | 1.57 | 1.54 | 1.9% | |
| DPS3 | 0.704 | 0.683 | 3.1% | |
| 30 Jun 2026 | 31 Dec 2025 | Change | ||
| Net Debt | 1,925.3 | 1,912.0 | 0.7% | |
| Net Working Capital | 22.0 | 43.6 | (21.6) | |
| Net Debt/Adjusted EBITDA LTM, times | 3.49 | 3.50 | (0.3%) | |
| FFO LTM/Net Debt | 22.2% | 21.0% | 1.2 pp | |
1. All, except ‘Net profit’, are Alternative Performance Measures (APMs). Definitions and formulas of the financial indicators are available on our website.
2. ‘Other activities and eliminations’ includes consolidation adjustments, related-party transactions and financial results of the parent company.
3. For 6M 2026 we intend to distribute a dividend of EUR 0.704 per share (+3.1% YoY), corresponding to EUR 51.0 million, which is subject to the decision of our General Meeting to be held on 9 September 2026.
Earnings call
In relation to the publication of the 6M 2026 results, an earnings call for investors and analysts will be held on Wednesday, 12 August 2026, at 1:00 pm Vilnius / 11:00 am London time.
To join the earnings call online, please register at:
https://edge.media-server.com/mmc/go/Ignitis6M2026results
It will be also possible to join the earnings call by phone. To access the dial-in details, please register here. After completing the registration, you will receive dial-in details on screen and via email. You will be able to dial in using the provided numbers and the unique pin or by selecting ‘Call me’ option and providing your phone details for the system to connect you automatically as the earnings call starts.
All questions of interest can be directed to the Group’s Investor Relations team in advance, after registering, or live during the earnings call.
Presentation slides will be available for download prior the call at:
https://ignitisgrupe.lt/en/reports-presentations-and-fact-sheets
The First six months 2026 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
Communications
Valdas Lopeta
+370 621 77993
valdas.lopeta@ignitis.lt
Investor Relations
Ainė Riffel-Grinkevičienė
+370 643 14925
aine.riffel-grinkeviciene@ignitis.lt
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