Litgrid (LGD1L) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue rose 23% YoY to €373.6m; EBITDA swung to €52.2m from a €26.4m loss, and net profit reached €35.8m from a €35.2m loss.

• Q3 revenue increased to €106.6m from €96.1m, while EBITDA turned to a €0.4m loss from €13.9m profit and net income was a €3.2m loss.

Financial highlights

• 9M revenue was €373.6m versus €305.4m; other income was €0.8m versus €0.9m.

• 9M expenses for electricity and related services fell to €280.3m from €293.6m; total operating expenses declined to €322.1m from €331.8m.

• 9M operating profit was €33.9m versus a €44.4m loss; profit before tax was €36.1m versus a €41.6m loss.

• 9M total income tax was an expense of €0.3m, versus a €6.4m benefit; net profit was €35.8m versus a €35.2m loss.

• Assets were €861.2m at 30 September 2026, up from €816.4m at 31 December 2025; equity was €276.1m.

Segment performance

• Operations are managed as one segment: electricity transmission and related services.

• 9M electricity transmission service revenue increased 17%, mainly reflecting an 18% increase in the transmission service price; balancing/imbalance electricity revenue rose 82%.

• Ancillary services revenue fell 3.9%; provided-service volume rose 8%, partly offset by a 26% decline in the actual ancillary-services acquisition component of the tariff.