KN Energies (KNE1L) Q2 2026 earnings summary

Executive summary

• Achieved strong financial and operational performance in HY1 2026, with significant year-over-year growth in revenue, EBITDA, and net profit, driven by regulated LNG activities, international expansion, and new service offerings such as methanol cargo and gasoline blending.

• Klaipėda LNG terminal utilization reached 86%, well above the European average, with long-term capacity bookings and new international advisory and O&M contracts in Poland, Germany, and Brazil.

• The CO2 CCS terminal project was granted national importance status, with FEED study launched and recognition for responsible business practices.

• Entered new markets, including Vietnam, and expanded gasoline blending and methanol handling capabilities.

• Recognized for transparency, anti-corruption, and responsible business practices, marking the 30th anniversary of stock listing.

Financial highlights

• Revenue rose 14% year-over-year to €58.1 million; EBITDA up 15% to €31.1 million; net profit up 60% to €13.8 million.

• EPS increased to €0.04; capitalization at €181.4 million as of June 30, 2026, up 13.6% year-over-year.

• Free cash flow reached nearly €25 million in the first half.

• Normalized EBITDA at €25.9 million and normalized net profit at €10.6 million.

• Dividend of €10.9 million paid for 2025, with a payout ratio of 65%.

Outlook and guidance

• Growth expected to continue in the second half, but at a slower pace due to technical maintenance and market uncertainties; full-year growth anticipated to be positive but less robust than the first half.

• By 2030, aims to increase revenue by over 50% (vs 2022), reduce CO2 emissions by 30%, and lay foundations for hydrogen and energy storage businesses.

• Approximately 71% of regasification capacity for 2033–2044 already allocated, ensuring long-term demand and predictable cash flows.

• Continued investment in infrastructure modernization, CCS, and digitalization.

• Focus on expanding LNG business globally and advancing new energy projects, including CO2 terminal.