AB KN Energies (hereinafter - KN, the Company) announces the unaudited consolidated (hereinafter - the Group) and separate financial results for the six months ended 30 June 2025.
Key financial indicators for the 1-6 months of 2025:
| EUR millions | Group | Company | ||
| 1-6 months of 2025 | 1-6 months of 2024 | 1-6 months of 2025 | 1-6 months of 2024 | |
| Revenue | 51.1 | 42.6 | 48.9 | 40.8 |
| EBITDA | 27.2 | 21.7 | 26.0 | 20.7 |
| Net profit (loss) | 8.6 | 1.5 | 7.7 | 0.8 |
| Adjusted net profit (loss) | 8.6 | 6.3 | 7.7 | 5.7 |
Management comment:
KN Energies continues to record rapid growth - in the first half of 2025, the Company's revenue increased by 20% year-on-year to EUR 51.1 million, while EBITDA rose by 25% to EUR 27.2 million.
In the first half of the year, KN Energies loaded 1.83 million tonnes of liquid energy products at its terminals - 4% less than last year, mainly due to developments in global and regional markets and lower petrol transshipment volumes driven by limited fuel demand growth. Nevertheless, financial results in the segment improved: revenue grew by 3% - from EUR 14.6 million to EUR 15 million, EBITDA increased by 15% - from EUR 6 million to EUR 6.9 million, and net profit rose by 21% - from EUR 3.1 million to EUR 3.7 million. At the beginning of the year, a new agreement was signed with one of the Company's key clients and strategic partners - ORLEN Lietuva. This agreement, important to both parties, will enable KN Energies to ensure stable operations at the Klaipeda Liquid Energy Terminal and the continuity of investments.
In the first half of 2025, net profit from commercial LNG activities amounted to EUR 1.8 million - 25% less than in the same period last year. Revenue remained relatively stable at EUR 5.1 million (+4.6%), but profitability was reduced by a 14.6% increase in costs, mainly due to different stages of international project implementation and related expenses. Currently, KN Energies continues to operate the LNG terminal at the Port of Açu in Brazil, the commercial operation of four LNG terminals in Germany, and, in the summer, following intensive preparation, is taking over the technical operation of the second LNG terminal in Wilhelmshaven.
KN Energies is further developing projects for the handling of new energies. A significant step was taken in June when a grant agreement was signed with the European Commission, which will provide more than EUR 3 million for technical and commercial studies of the planned CO2 terminal in Klaipeda. In the same month, a market consultation was launched to assess interest in the planned Klaipeda CO2 terminal and its potential demand.
Enclosed:
- Consolidated and Separate Financial Statements of AB KN Energies for 6 months period ended 30 June 2025.
- Presentation of the unaudited financial results of the Group for the 6 months period of 2025.
Tomas Tumenas, Chief Financial Officer, +370 46 391772
