Ignitis grupe (IGN1L) Q3 2026 earnings summary

Executive summary

• 9M 2026 Adjusted EBITDA rose 6.2% YoY to €430.4m, while Adjusted Net Profit fell 18.1% to €145.5m; reported net profit increased 21.5% to €160.8m.

• Green Capacities stood at 2.1 GW installed and 0.7 GW under construction; post-period Tume solar farm COD lifted installed capacity to 2.3 GW.

• FY 2026 Adjusted EBITDA guidance narrowed to €575–600m; intended 2026 dividend increased 10% YoY to €1.504/share.

Financial highlights

• Revenue rose 18.1% YoY to €2,124.2m; reported EBITDA increased 26.6% to €448.8m and EBIT rose 29.7% to €252.1m.

• Adjusted EBITDA increased 6.2% to €430.4m; Adjusted Net Profit fell 18.1% to €145.5m, reflecting higher D&A and weaker financial results.

• 9M investments declined 18.4% to €432.4m, mainly as Green Capacities projects reached COD in 2025; Networks spending remained high.

• Free cash flow was -€34.5m, improving €88.1m YoY; operating cash flow was €425.4m and investing cash flow -€436.2m.

• Q3 revenue rose 25.2% YoY to €626.7m; Adjusted EBITDA increased 18.8% to €123.9m, while adjusted net profit fell 5.4% to €29.7m.

Outlook and guidance

• FY 2026 Adjusted EBITDA guidance narrowed from €550–600m to €575–600m; investment guidance was reiterated at €590–690m.

• Reserve Capacities guidance shifted to lower YoY on weaker balancing-capacity results; other segment drivers were unchanged.

• The 2026–2029 plan targets €2.5–3.0bn of investment, primarily in Networks and Green Capacities, and 4–5 GW of Green Capacities.

• Intended 2026 dividend is €1.504/share (€108.9m); €0.400/share is proposed for 9M, subject to the 10 December EGM. Dividend floor for 2029 is €1.64/share, with at least 3% annual growth.