Ignitis Grupe Ab · OMXVSE:IGN1L
Ignitis Grupe Ab — FY2025 Earnings Presentation
46 slides from Ignitis Grupe Ab's earnings presentation, Feb 25, 2026
Slide 1: Investor presentation: full-year 2025 results
Investor presentation: full-year 2025 results 25 February 2026
Slide 2: Legal notice
Investor presentation / Legal notice Legal notice This document has been prepared by the parent company solely for informational purposes and must not be relied upon, disclosed or published, o used in part for any other purpose. The document should not be treated as investment advice or provide basi
Slide 3: Agenda
Investor presentation / Agenda Agenda 1. Strategic highlights 4 2. Financial highlights 14 3. Outlook 2026 26 Darius Maikštėnas, CEO 4. Supplementary information 30 Jonas Rimavičius, CFO 3 / 46
Slide 4: Strategic highlights
Investor presentation / Strategic highlights Strategic highlights 4 / 46
Slide 5: Highlights
Investor presentation / Strategic highlights Highlights Record strategic progress with +0.7 GW of new green capacities installed, completed mass smart meter roll-out, and Adjusted EBITDA beat Adjusted EBITDA Record strategic Debut asset rotation Dividends in line guidance beat growth transaction wit
Slide 6: Green Capacities: capacities update
Investor presentation / Strategic highlights Green Capacities: capacities update Installed Capacity +0.7 GW installed, bringing total to 2.1 GW split By technology Biomass & WtE 0.1 GW Solar 0.3 GW Installed Capacity portfolio GW 2.1 GW Hydro 1.0 GW Onshore wind 2.1 0.7 GW +0.7 GW Installed Capacity
Slide 7: Green Capacities: record progress with +0.7 GW new capacities
Investor presentation / Strategic highlights Green Capacities: record progress with +0.7 GW new capacities Onshore wind Offshore wind Solar BESS Hydro COD reached at: Tender for the COD reached at: Final Investment Updated Kruonis Kelmė WF (313.7 MW) Lithuanian 700 MW Varme SF (94 MW) in Decisions (
Slide 8: Green Capacities: Vilnius CHP transaction
Investor presentation / Strategic highlights Green Capacities: Vilnius CHP transaction Debut asset rotation transaction valued at 4.6x invested equity Highlights Estimated profit, 49% basis EURm ‒ Debut asset rotation program transaction. ‒ Also, ensures European Commission requirement to attract pr
Slide 9: Networks
Investor presentation / Strategic highlights Networks Strengthening the distribution grid, completed mass smart meter roll-out 1. 10-year investment plan 2. Tariff components 3. Smart meters installed EURbn # RAB WACC Additional tariff Target of 1.2 million by EURb % component 2026 EURm +40% +0.1 -0
Slide 10: Reserve Capacities
Investor presentation / Strategic highlights Reserve Capacities Major Elektrėnai CCGT and Unit 7 upgrades, wins in Polish capacity auctions Upgraded Elektrėnai Won Polish capacity Complex: auctions and will secure: NEW ‒ completed CGGT unit’s ‒ 381 MW for Q1 2026 overhaul, improving (~8.2 EURm); rel
Slide 11: Customers & Solutions
Investor presentation / Strategic highlights Customers & Solutions Further developing of a leading fast-charging network in the Baltics EV charging points units 1.7x Our charging 1,799 network covers 386 >90% of the 1,091 334 Baltic States’ 1,413 territory 757 31 Dec 2024 31 Dec 2025 Fast-charging p
Slide 12: Sustainability initiatives update
Investor presentation / Strategic highlights Sustainability initiatives update Focus on sustainability and people remains as we expand green capacities, support system stability and secure a place on CDP’s Climate A List Electricity Generated (net), Climate action Safety Green Share of Generation GH
Slide 13: Newly elected members of governing bodies
Investor presentation / Strategic highlights Newly elected members of governing bodies International, diverse and highly respected in the industry Supervisory Board New members 27 October 2025 – Term of office 26 October 2029 Re-elected 7/9 members Alfonso Faubel Judith Buss Ingrida Lorraine Sian Ll
Slide 14: Financial highlights
Investor presentation / Financial highlights Financial highlights 14 / 46
Slide 15: Consistent plan outperformance
Investor presentation / Financial highlights Consistent plan outperformance Adjusted EBITDA - five straight years above guidance Adjusted EBITDA APM +16% +5% EURm +7% +50% 546 528 520 469 485 455 455 +9% 333 313 305 Initial guidance (mid-point) Actual result 2021 2022 2023 2024 2025 Initial guidance
Slide 16: Adjusted EBITDA beat, Investments within expected range
Investor presentation / Financial highlights Adjusted EBITDA beat, Investments within expected range Adjusted EBITDA APM Investments APM EURm EURm 812.0 700–900 700–800 25.2 720.3 546.1 11.8 527.9 500–540 510–540 Realised 337.0 29.4 37.7 42.0 263.4 382.5 219.9 434.5 Guidance 262.4 291.5 285.9 2024 2
Slide 17: Financial performance overview
Investor presentation / Financial highlights Financial performance overview Adjusted EBITDA, 3.4% Financial KPIs1, EURm 2025 2024 Δ driven by stronger performance in Green Capacities and Networks Adjusted EBITDA 546.1 527.9 3.4% Adjusted Net Profit, 18.7% Adjusted Net Profit 225.7 277.5 (18.7%) due
Slide 18: Adjusted EBITDA
Investor presentation / Financial highlights Adjusted EBITDA Growth driven by Green Capacities and Networks Development across business segments Adjusted EBITDA APM +29.1 EURm New assets launched, and EURm +11.1% new services provided. 546.1 527.9 +3.4% +43.5 EURm Higher RAB and WACC. 291.5 +19.8% 2
Slide 19: Green Capacities
Investor presentation / Financial highlights Installed Capacity Green Electricity Generated (net), GW Green Share of Generation Green Capacities TWh, % +0.7 GW 2.1 4.00 81.5% 70.2% 3.50 60.0% 2.79 Increase due to new assets launched, and new services provided 2.30 3.00 1.4 0.11 0.30 10.0% 0.01 2.50
Slide 20: Networks
Investor presentation / Financial highlights Distribution volumes Technological losses TWh % Networks +2.7% 6.0% 5.0% -0.2 pp 10.07 10.34 5.0% Better results driven by higher RAB and WACC +0.2% 4.0% 4.8% 6.91 6.92 3.0% 2.0% -0.1 pp 1.5% 1.4% 1.0% 0.0% 2024 2025 2024 2025 Electricity Natural gas Adju
Slide 21: Reserve Capacities
Investor presentation / Financial highlights Capacity of services provided MW Reserve Capacities 0.0% 1200 1,055 1,055 164 164 1000 800 Lower result due to lower availability related to planned major overhaul of the CCGT 600 unit and lower captured gross profit margin 400 891 891 200 0 31 Dec 2024 3
Slide 22: Customers & Solutions
Investor presentation / Financial highlights Customers & Solutions Decrease driven by lower electricity and natural gas supply activities results Electricity retail sales Natural gas sales TWh TWh +10.2% +2.3% 7.38 6.70 6.811 6.97 Adjusted EBITDA development APM EURm -37.0% 1.84 1.16 2024 2025 2024
Slide 23: Investments
Investor presentation / Financial highlights Investments YoY decrease driven by several projects reaching COD Investments APM Key drivers EURm 812.0 720.3 Decline due to several projects reaching (11.3%) (148.6) EURm COD. Partly offset by ongoing (34.2%) Investments in BESS, Tume SF and 434.5 285.9
Slide 24: Free cash flow
Investor presentation / Financial highlights Free cash flow Negative FCF due to the Investments made FCF APM Key drivers EURm Adjusted EBITDA (+546.1 EURm). 2024 2025 Change in Net Working Capital (+59.0 EURm). Investments (-720.3 EURm). 1.0% (193.9) (192.0) 24 / 46
Slide 25: Leverage metrics
Investor presentation / Financial highlights Leverage metrics Higher Net Debt due to continued significant Investments and lower FFO due to temporary regulatory differences Net Debt/Adjusted EBITDA APM FFO/Net Debt APM times, % 29.7% Net Debt development APM 5.00 21.0% EURm 4.50 20.0% 4.00 3.50 3.05
Slide 26: Outlook 2026
Investor presentation / Outlook 2026 Outlook 2026 26 / 46
Slide 27: Guidance 2026
Investor presentation / Outlook 2026 Guidance 2026 Adjusted EBITDA of 550–600 EURm, Investments of 590–690 EURm Adjusted EBITDA APM Investments APM EURm EURm 720.3 546.1 550–600 590–690 29.4 37.7 Guidance 263.4 382.5 291.5 285.9 (48.5) 2025 2026 2025 2026 actual guidance actual guidance Green Networ
Slide 28: Highlights
Investor presentation / Strategic highlights Highlights Record strategic progress with +0.7 GW of new green capacities installed, completed mass smart meter roll-out, and Adjusted EBITDA beat Adjusted EBITDA Record strategic Debut asset rotation Dividends in line guidance beat growth transaction wit
Slide 29: Q&A
Investor presentation / Q&A Q&A 29 / 46
Slide 30: Supplementary information
Investor presentation / Supplementary information Supplementary information 30 / 46
Slide 31: Statement of profit or loss
Investor presentation / Supplementary information Statement of profit or loss EURm 2025 2024 Δ% Revenue from contracts with customers 2,473.0 2,295.6 7.7% Other income 24.7 11.4 116.7% Total revenue 2,497.7 2,307.0 8.3% Purchase of electricity, natural gas and other services (1,625.1) (1,444.7) 12.5
Slide 32: Statement of financial position
Investor presentation / Supplementary information Statement of financial position EURm 31 Dec 2025 31 Dec 2024 Δ% EURm 31 Dec 2025 31 Dec 2024 Δ% Assets Equity and liabilities Intangible assets 293.2 305.8 (4.1%) Share capital 1,616.4 1,616.4 0.0% Property, plant and equipment 4,699.2 4,027.4 16.7%
Slide 33: Statement of cash flows
Investor presentation / Supplementary information Statement of cash flows EURm 2025 2024 Δ% EURm 2025 2024 Δ% Cash flows from operating activities Cash flows from financing activities Net profit for the period 163.9 276.2 (40.6%) Loans received 245.7 110.9 121.6% Adjustments for non-monetary expense
Slide 34: EBITDA and Net Profit adjustments
Investor presentation / Supplementary information EBITDA and Net Profit adjustments EBITDA adjustments Net Profit adjustments EURm EURm 2025 2024 Δ Δ% 2025 2024 Δ Δ% EBITDA APM 482.1 532.7 (50.6) (9.5%) Net profit 163.9 276.2 (112.3) (40.6%) Adjustments Adjustments Temporary regulatory differences1
Slide 35: EU Taxonomy KPIs
Investor presentation / Supplementary information EU Taxonomy KPIs Increase in Taxonomy-aligned share of Adjusted EBITDA and Revenue, whereas Taxonomy CAPEX Taxonomy- and Taxonomy OPEX have decreased Taxonomy-eligible aligned3 4.1 Electricity generation using solar photovoltaic Yes Adjusted EBITDA A
Slide 36: Net Working Capital
Investor presentation / Supplementary information Net Working Capital Decrease driven by higher prepayments received, lower trade receivables and increase in regulatory liabilities, partly offset by lower trade payables Net Working Capital APM Key drivers (2025 vs 2024): EURm (57.5%) Higher prepayme
Slide 37: Overview of introduced new regulation for AB Ignitis gamyba
Investor presentation / Supplementary information Overview of introduced new regulation for AB “Ignitis gamyba” Ensures that the additional profit earned in the Baltic states is shared with Lithuanian consumers by reducing the regulated electricity tariff Elektrėnai Complex Kruonis PSHP, Kaunas HPP
Slide 38: Financing
Investor presentation / Supplementary information Financing Repayment schedule1,2 Liquidity reserve EURm EURm 751.8 602.4 300.0 539.7 329.3 561.6 300.0 300.0 273.1 212.1 69.1 67.8 68.0 68.3 88.8 95.8 120.5 125.7 39.7 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035+ 31 Dec 2024 31 Dec 2025 Loans an
Slide 39: Installed Capacity and generation mix overview
Investor presentation / Supplementary information Installed Capacity and generation mix overview Electricity generated1 vs supplied by Ignitis Group in 2025 TWh 7.4 Gap enough to cover ~2.0 GW2 of new Green Capacities 1.9 Externally–secured 0.4 Generated1 Electricity supply portfolio 1. Excluding op
Slide 40: Hedging levels
Investor presentation / Supplementary information Hedging levels Generation portfolio hedging levels1 136 100% 200 116 Hedge price2, 83 83 84 90% 150 EUR/MWh 80% 100 70% 50 60% 0 50% -50 40% -100 72% 71% 30% 62% 57% -150 Volumes 50% hedged3,4, 20% -200 % 10% -250 0% -300 2024 2025 2026 2027 2028 1.
Slide 41: Industry overview
Investor presentation / Supplementary information Industry overview Nord Pool system 44.5 EUR/MWh (+23.3%) TTF Electricity 37.7 EUR/MWh (-10.9%) Consumption, TWh Generation, TWh TWh 2025 2024 Δ, % TWh 2025 2024 Δ, % Finland 42.1 EUR/MWh (-7.6%) Lithuania 11.7 12.1 (3.3%) Lithuania 9.6 8.4 14.5% 40.4
Slide 42: Recent updates to ESG ratings
Investor presentation / Supplementary information Recent updates to ESG ratings Strengthening ESG Performance: Achieving CDP's Climate 'A' rating Rank compared to utility Rating provider Score range (minimum to maximum) peers D- A+ B- Prime (Good) 2nd decile CCC AAA AA (Leader) Top 23%1 100 0 24.2 (
Slide 43: Disclosure summary 2025–2028
Investor presentation / Supplementary information Disclosure summary 2025–2028 Strategic ambitions and financial guidance Our strategic performance KPIs Installed green generation and green flexibility capacities: Total Investments, 2025–2028 2.6–3.0 GW 3.0–4.0 EURbn − 2028 − of which share of Inves
Slide 44: Glossary
Investor presentation / Supplementary information Glossary Advanced Development Green Capacities projects with secured access to the electricity Installed Capacity The date on which all equipment of Green Capacities project is: Pipeline grid through a preliminary grid connection agreement, where the
Slide 45: Abbreviations
Investor presentation / Supplementary information Abbreviations B2B Business to business PPA Power purchase agreement B2C Business to consumer PSHP Pumped Storage Hydroelectric Power Plant BESS Battery energy storage system RAB Regulated asset base CCGT Combined Cycle Gas Turbine Plant SAIDI Average
Slide 46: More about Ignitis Group Contacts
Investor presentation / Supplementary information More about Contacts Ignitis Group Reports, presentations & fact IR@ignitis.lt sheets Sustainability Strategy 46 / 46