In the second quarter of 2026, Ignitis Group’s revenue increased by 6%, while first-half revenue rose by 15% compared with the same periods last year. As in the first quarter of this year, revenue growth was mainly driven by the Customers & Solutions segment (+25% YoY), while the Reserve Capacities segment had the largest negative impact (-48% YoY).

Results by segments, 2026 Q2

Adjusted EBITDA growth in the second quarter, as at the beginning of the year, remained modest at 2% YoY, while reported EBITDA increased by 25% YoY. In Q2, the cost of electricity, natural gas and other services purchased grew at half the rate of revenue, increasing by 3% YoY. In addition, following a particularly sharp increase in other operating expenses in the second quarter of last year, these expenses were 18% lower YoY this year.

Adjusted EBITDA

The main sources of profit were the Green Capacities and Networks segments. Both segments recorded stronger profitability at the EBITDA level in the second quarter compared with a year earlier. However, due to a significant increase in depreciation and amortisation in the Green Capacities segment, its EBIT margin deteriorated.

The Reserve Capacities segment also generated a profit this quarter. However, excluding the impact of EUA sales, the segment was loss-making at the adjusted EBIT level.

Although free cash flow was positive in the second quarter due to the impact of working capital, it remains negative on a TTM basis.

Free cash flow