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AB “Ignitis grupė” publishes its Integrated Annual Report 2024, which is attached to this notice.

Financial performance

Our Adjusted EBITDA for the full-year amounted to EUR 527.9 million (+8.9% YoY) and exceeded the full-year guidance range of EUR 480–500 million. The growth was driven by better results in the Green Capacities and Networks business segments. The Green Capacities segment remained the largest contributor with a 49.7% share of our total Adjusted EBITDA.

In 2024, our Investments amounted to EUR 812.0 million (-13.3% YoY) and fell within our full-year guidance range of EUR 750–900 million. In total, more than half of the Investments were made in the Green Capacities segment (53.5% of the total Investments), mainly for new onshore wind farms in Lithuania.

Our leverage metrics remained strong. FFO/Net Debt ratio improved to 29.7% (compared to 29.4% as of 31 December 2023). Also, S&P Global Ratings reaffirmed the Group’s ‘BBB+’ (stable outlook) credit rating.

Business development

Green Capacities: Portfolio increased to 8.0 GW (from 7.1 GW), Secured Capacity to 3.1 GW (from 2.9 GW), Installed Capacity to 1.4 GW (from 1.3 GW).

Key milestones:

– reached CODs at Silesia WF I (50 MW) in Poland, Vilnius CHP biomass unit (71 MWe, 170 MWth) in Lithuania, Tauragė SF (22.1 MW) in Lithuania;

– completed the construction of and supplied first power to the grid at Silesia WF II (137 MW) in Poland;

– supplied first power to the grid at Kelmė WF (300 MW) in Lithuania;

– made the Final Investment Decision for Tume SF (174 MW) in Latvia;

– secured grid connection capacity for our first BESS projects (<290 MW) in Lithuania;

– secured land for the development of hybrid projects (314 MW), i.e., we are planning to develop wind farms near our Latvian solar farms;

– secured seabed site (Liivi 1) in Estonian offshore wind tender together with CIP.

Networks: 3.5 EURb (+40%) Investments set in 10-year Investment Plan (2024–2033); 2025 total RAB set at 1.8 EURbn (+0.2 EURbn), WACC (weighted average) – 5.79% (+0.71 pp), and additional tariff component – EUR 37.5 million (-6.3%); smart meters exceeded 1 million installed.

Customers & Solutions: 1,091 (+715 since 31 December 2023) EV charging points installed.

Sustainability

Our Green Share of Generation amounted to 81.5% (-3.5 pp YoY) due to proportionally higher electricity generation in CCGT (Reserve Capacities).

In 2024, our total GHG emissions, based on the updated accounting methodology, were 4.05 million t CO2-eq, marking a 7.2% decrease YoY. Notably, we achieved a significant 35.6% reduction in Scope 2 emissions and an 8.3% decrease in Scope 3 emissions. However, our Scope 1 emissions rose by 14.8% due to increased energy production.