AB Amber Grid (AMG1L) Q3 2025 earnings summary

Executive summary

• Revenue for the nine months ended 30 September 2025 was €49.4 million, down 4% year-over-year, mainly due to a 28.6% decrease in system balancing product revenue, while core transmission revenue remained stable.

• Net profit for the period was €1.5 million, a significant decline from €5.7 million in the prior year, reflecting lower EBITDA and higher finance costs.

• Adjusted EBITDA was €22.8 million, with management adjustments mainly from regulatory differences, while reported EBITDA was €14.7 million.

• Dividends of €10.7 million were paid in 2025, following €20.2 million in 2024.

Financial highlights

• Revenue: €49.4 million for 9M 2025 (down from €51.4 million in 9M 2024).

• EBITDA: €14.7 million (down from €19.0 million year-over-year).

• Net profit: €1.5 million (down from €5.7 million year-over-year).

• Basic and diluted EPS: €0.01 (down from €0.03 year-over-year).

• Operating cash flow: €11.3 million (down from €25.9 million year-over-year).

Outlook and guidance

• Management expects continued regulatory impacts and market volatility to influence results.

• The company completed the sale of its remaining 34% stake in GET Baltic in October 2025 for €3.8 million.