Ignitis Group 2025 results: record strategic progress with +0.7 GW of new green capacities installed, completed mass smart meter roll-out, and Adjusted EBITDA beat

Ignitis
Date
25 February 2026
Category
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  • Adjusted EBITDA for the full-year 2025 amounted to EUR 546.1 million (+3.4% YoY)
  • Investments totalled 720.3 million euros (53.1% to Networks and 39.7% to Green Capacities)
  • Installed green capacities increased by 0.7 gigawatts (GW) from 1.4 GW to 2.1 GW
  • Six wind and solar farm projects reached COD in Lithuania, Latvia and Poland
  • Completed the mass smart meter roll-out with 1.3 million of smart meters installed
  • Ignitis Group has retained ‘BBB+’ credit rating, reaffirmed by S&P in September, and achieved prestigious CDP ‘A’ score for environmental leadership
  • Dividends proposed in line with policy (+3.0% year-over-year)

AB “Ignitis grupė” (Ignitis Group), a renewables-focused integrated utility, delivered robust results in 2025 with an adjusted EBITDA of 546.1 million euros, a year-over-year growth of 3.4%, and exceeded the upper end of its full-year guidance range of 510–540 million euros. The growth was driven by the stronger performance of its two largest segments – Green Capacities and Networks segments.

Investments totalled 720.3 million euros, within full-year guidance range of EUR 700–800 million. 53.1% of investments were allocated to Networks and 39.7% to Green Capacities, primarily to new solar and onshore wind expansion projects. With several projects reaching COD, the total investments have decreased compared to 2024. 

Following a regular review in September, S&P Global Ratings reaffirmed Ignitis Group’s credit rating at ‘BBB+’ with a stable outlook.

“With record strategic progress, Ignitis Group has reinforced its position as a leading force in the Baltic energy transition. Our targeted investments across Lithuania, Latvia, Estonia and Poland strengthen regional energy security and build an energy abundant ecosystem, leading to globally competitive prices for consumers, and sustainable economic growth," says Darius Maikštėnas, CEO of Ignitis Group.

In 2025, Ignitis Group reinforced its leadership in the Baltic region energy transition by focusing on green generation and green flexibility projects.

During the reporting period, Ignitis Group increased its installed green capacities by 0.7 GW to 2.1 GW as six projects reached commercial operation dates. Notable milestones included the launch of Kelmė wind farm (313.7 MW) in Lithuania – the largest onshore wind farm in the Baltics; Silesia wind farm II (136.8 MW) in Poland – one of the country’s largest onshore wind farms; and the largest solar farm cluster in Latvia, comprising Varme solar farm (94 MW), Stelpe solar farm I (72.5 MW) and Stelpe solar farm II (72.5 MW). These projects collectively added 450.5 MW of onshore wind and 263.0 MW of solar capacity.

Additionally, final investment decisions were made for battery energy storage systems in Lithuania at Kelmė (147.4 MW), Kruonis (99.2 MW) and Mažeikiai (45.1 MW). 

In the Networks segment, Ignitis Group continued to invest in modernising and expanding its distribution infrastructure. The Group has updated its 10-year (2024–2033) Investment Plan for the distribution networks and aligned it with the regulator (NERC) on 23 January 2025. The plan foresees a 40% increase in investments to 3.5 billion euros compared to the previous 10-year Investment Plan submitted to NERC (2.5 billion euros for 2022–2031). Furthermore, NERC has adopted resolutions, setting the 2026 RAB at 1.9 billion euros (1.8 billion euros in 2025), WACC (weighted average) – 5.74% (5.79% in 2025), and additional tariff component – 51.8 million euros (37.5 million euros in 2025). Most notably, Ignitis Group successfully completed the mass smart meter roll-out with 1.3 million smart meters installed.

In the Reserve Capacities segment, Ignitis Group has won a Polish capacity mechanism auction for ensuring 381 MW and 484 MW capacity availability in the first and fourth quarters of 2026 for approximately 8.2 million euros and 11.5 million euros respectively. After the reporting period, Ignitis Group won another Polish capacity mechanism auction for ensuring 148 MW capacity in 2030 for approximately 14.7 million euros.

In the Customers & Solutions segment, Ignitis Group significantly expanded its electric vehicle (EV) charging network by installing 708 EV charging points over the year, totalling 1,799 charging points across the Baltics. Also, the Group has signed a 7-year PPA with Lithuanian TSO (Litgrid) at a fixed price of 74.5 euros per megawatt-hour for up to 160 gigawatt-hours per year, effective from January 2026.

Sustainability is a key part of the Ignitis Group's strategy, with a focus on decarbonisation, health, and safety. In 2025, its green share of generation amounted to 70.2%, carbon intensity of Scope 1 and 2 emissions amounted to 248 grammes of CO2-equivalent per kilowatt-hour, and there were no fatalities. Ignitis Group has been recognised by CDP, a global environmental non-profit, for its leadership in corporate transparency and performance on climate change, securing a place on CDP’s respected A List, which includes the top 4% of companies scored globally.

In line with its Dividend Policy, Ignitis Group proposes to distribute a total dividend of 1.366 euros per share (+3.0% year-over-year), amounting to 98.9 million euros for 2025. Based on year-end closing prices, it represents a 6.2–6.4% yield for global depositary receipt holders and ordinary registered shareholders. The total dividend per share for 2025 comprises a dividend of EUR 0.683 paid for the first half of 2025 and a proposed dividend of EUR 0.683 for the second half, which is subject to the decision at Ignitis Group's Annual General Meeting of Shareholders on 25 March 2026.

For 2026, Ignitis Group expects its adjusted EBITDA to be in the range of 550–600 million euros and investments in the range of 590–690 million euros. 

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