Litgrid (LGD1L) Q4 2024 earnings summary

Executive summary

• Revenue for the twelve months ended 31 December 2024 reached EUR 378.3 million, up from EUR 369.8 million year-over-year, driven by higher transmission tariffs and increased ancillary services revenue.

• Net profit for the period was EUR 49.0 million, slightly above the previous year's EUR 48.4 million, with basic and diluted EPS at EUR 0.097.

• The company completed a historic synchronization of the Baltic States' power systems with Continental Europe in February 2025, enhancing regional energy independence.

Financial highlights

• EBITDA for 2024 was EUR 60.6 million, down from EUR 78.3 million year-over-year; adjusted EBITDA was EUR 47.7 million, reflecting regulatory adjustments.

• Operating profit (EBIT) reached EUR 37.4 million, up from EUR 36.6 million year-over-year.

• Total assets increased to EUR 820.3 million from EUR 677.4 million at year-end 2023.

• Net financial debt stood at EUR 33.1 million, down from EUR 39.2 million a year earlier.

• Dividends of EUR 29.3 million were paid for 2023, with no dividends declared for 2022.

Outlook and guidance

• The company expects continued benefits from the synchronization with Continental Europe, supporting energy security and market integration.

• Regulatory changes and tariff adjustments are anticipated to impact future financial performance.