Litgrid (LGD1L) Q4 2025 earnings summary

Executive summary

• Revenue increased to €429.3 million for 2025, up 14% year-over-year, driven by higher ancillary services and transmission revenue, despite a decrease in balancing/imbalance energy sales.

• Net profit for 2025 was €34.2 million, down from €49.0 million in 2024, reflecting higher expenses and lower EBITDA.

• EBITDA decreased to €48.9 million from €60.5 million year-over-year, mainly due to increased costs for electricity and related services.

Financial highlights

• Revenue from electricity transmission and related services rose to €429.3 million from €375.9 million year-over-year.

• Expenses for purchase of electricity and related services increased by 21% to €329.0 million.

• EBITDA margin declined as EBITDA fell to €48.9 million from €60.5 million.

• Basic and diluted EPS was €0.068, down from €0.097 year-over-year.

• Total assets stood at €816.4 million at year-end 2025, nearly flat compared to €820.3 million at year-end 2024.

Outlook and guidance

• Adjusted EBITDA for 2025 was €53.0 million, reflecting regulatory adjustments; management expects future profitability to be influenced by regulatory pricing adjustments.

• Revenue from Lithuanian clients accounted for 96% of total revenue in 2025, up from 86% in 2024.