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• Adjusted EBITDA: EUR527.9 million, an 8.9% year-over-year increase.

• Net Debt to Adjusted EBITDA Ratio: 3.05 times.

• Dividend per Share: EUR1.33, a 3.1% increase over the previous year.

• Green Capacities Portfolio: Increased by 0.8 gigawatts, reaching 8 gigawatts.

• Investments: EUR812 million, 42% higher than the average of the last five years.

• Adjusted Net Profit: EUR277.5 million, a 3.2% decrease due to higher interest expenses.

• Return on Capital Employed: Decreased by 0.8 percentage points to 9%.

• FFO to Net Debt: 29.7%.

• Credit Rating: BBB+ with a stable outlook by S&P.

• Green Electricity Generation: Increased by 30.9% to 2.3 terawatt hours.

• Total Greenhouse Gas Emissions: 4.05 million tons of CO2 equivalent, a 7.2% decrease.

• Scope 2 Emissions: Reduced by 35.6%.

• Scope 3 Emissions: Decreased by 8.3%.

• Scope 1 Emissions: Increased by 14.8%.

• Smart Meters Installed: Exceeded 1 million units.

• Fast Charging EV Network: Tripled to 1,091 charging points.

• 2025 Adjusted EBITDA Guidance: EUR500 million to EUR540 million.

• 2025 Investment Guidance: EUR700 million to EUR900 million.

• Warning! GuruFocus has detected 9 Warning Signs with STU:IGV0.

Release Date: February 26, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Ignitis Group AB (STU:IGV0) achieved a record high adjusted EBITDA of EUR527.9 million in 2024, representing an 8.9% year-over-year increase.

• The company expanded its green capacities portfolio by 0.8 gigawatts, reaching a total of 8 gigawatts.

• Despite heavy investments, Ignitis Group AB (STU:IGV0) maintained a strong balance sheet with a net debt to adjusted EBITDA ratio of 3.05 times.

• The company plans to distribute a dividend of EUR1.33 per share, a 3.1% increase over the previous year.

• S&P reaffirmed Ignitis Group AB (STU:IGV0)'s BBB+ credit rating with a stable outlook, reflecting its solid investment grade status.

Negative Points

• The Customers & Solutions segment experienced a significant decline in EBITDA, driven by lower B2B natural gas supply results and ongoing losses in B2C electricity supply.

• The Curonian Nord project faces potential delays due to challenges in securing long-term power offtake and financing difficulties.

• The Silesia II wind farm in Poland is expected to reach full operational capacity later than initially planned, now anticipated in H2 2025.

• The company's free cash flow was negative at minus EUR193.9 million, primarily due to investments exceeding EBITDA.

• Scope 1 greenhouse gas emissions increased by 14.8% due to higher energy production, despite reductions in Scope 2 and Scope 3 emissions.