Lithuania’s state-owned energy group Ignitis Group announced on Wednesday that its adjusted EBITDA for January-September 2024 rose by 15% year-on-year to EUR 397 million.
Net profits edged upward by 0.7% to EUR 214 million, with adjusted net profits increasing by 10.5% to EUR 213.3 million, the company reported in a statement to the Nasdaq Vilnius Stock Exchange.
“Growth was driven by better results in green capacity and networks,” the company said.
Ignitis Group also reported that it is increasing its 2024 adjusted EBITDA guidance to between EUR 480 million and EUR 500 million, up from between EUR 450 million and EUR 480 million, as had been forecast previously.
The group is also, however, lowering its investment guidance for 2024 to between EUR 750 million and EUR 900 million, down from the previous EUR 850 million to EUR 1 billion, this due mostly to the “timing effects of our green capacity investments.”
The group’s overall investments declined by 7.9% during the nine months year-on-year to EUR 583.7 million.
Source: BNS
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