AB Ignitis grupė, the Lithuanian energy group listed under ticker IGN, has published its first nine months 2026 interim report, revealing Adjusted EBITDA of EUR 430.4 million, a 6.2% year-on-year increase. Growth was driven primarily by the Customers & Solutions and Networks business segments, while the company has narrowed its full-year 2026 Adjusted EBITDA guidance to EUR 575–600 million. The group also announced a proposed dividend increase of 10% for 2026, taking the per-share dividend to EUR 1.504, subject to shareholder approval at an EGM on 10 December 2026.

Key Points

  • AB Ignitis grupė (IGN) — Lithuanian integrated energy group operating across Networks, Green Capacities, and Customers & Solutions segments
  • Adjusted EBITDA of EUR 430.4 million for 9M 2026, up 6.2% year-on-year, with full-year guidance narrowed to EUR 575–600 million
  • Net Debt stood at EUR 1,960.6 million as of 30 September 2026; S&P reaffirmed BBB+ rating and Moody's assigned inaugural Baa1 rating
  • Investors should watch the EGM on 10 December 2026 and the earnings call scheduled for 11 November 2026

Networks Regulatory Reset and EUR 4.4 Billion Ten-Year Investment Plan for 2026–2035

The Networks segment delivered Adjusted EBITDA of EUR 206.4 million for the nine-month period, up 7.1% year-on-year. The upcoming 2027–2031 electricity regulatory period brings no significant changes, with the total Regulated Asset Base set at EUR 2.2 billion, a weighted average WACC of 5.83%, and an additional tariff component of EUR 29.7 million. The group's updated 10-year Investment Plan covering 2026–2035 proposes EUR 4.4 billion in network investments, representing a 26% increase on the prior plan. Networks accounted for 65.4% of total group investments in the period, primarily reflecting higher spending on electricity distribution network maintenance.

Green Capacities Segment Reaches 2.1 GW Installed Capacity with Tume Solar Farm COD in Latvia

The Green Capacities segment reported Adjusted EBITDA of EUR 196.4 million, down 8.8% year-on-year, partly reflecting the completion of projects that reached commercial operation date in 2025. Installed capacity stands at 2.1 GW, rising to 2.3 GW post-reporting period. Capacity under construction increased by 0.1 GW to 0.7 GW. The group reached commercial operation at the Tume solar farm (174 MW) in Latvia and took a Final Investment Decision on the Tume battery energy storage system (107 MW / 215 MWh), also in Latvia. A debut asset rotation transaction was also completed, contributing to the group's financial flexibility.

Inaugural EUR 300 Million European Green Bond Issued and Dual Investment-Grade Ratings Secured

Ignitis grupė successfully issued its inaugural EUR 300 million five-year European Green Bond, carrying a fixed annual coupon of 4.500%. The group's credit profile was reinforced during the period, with S&P Global Ratings reaffirming its BBB+ rating with a stable outlook, while Moody's assigned an inaugural Baa1 rating also with a stable outlook. Net Debt stood at EUR 1,960.6 million as of 30 September 2026, up 2.5% from year-end 2025, with the Net Debt to Adjusted EBITDA ratio improving to 3.43 times and FFO LTM/Net Debt strengthening to 21.4%.

Proposed 10% Dividend Increase to EUR 1.504 Per Share for 2026 Subject to EGM Approval

Supported by an asset rotation gain from the partial disposal of Vilnius CHP in the first quarter of 2026, the group intends to increase the full-year 2026 dividend by 10% compared with 2025, to EUR 1.504 per share or EUR 108.9 million in total, in line with its stated dividend policy. For the nine months ended 30 September 2026, the group proposes an interim dividend of EUR 0.400 per share, amounting to EUR 29.0 million, subject to approval at the EGM on 10 December 2026. An earnings call for investors and analysts is scheduled for 11 November 2026 at 11:00 am London time. Investors should note that one contractor fatality occurred during the reporting period, and employee TRIR increased to 1.60 year-on-year.