AB KN Energies (hereinafter - KN, the Company) announces the unaudited consolidated (hereinafter - the Group) and separate financial results for the 9 months ended 30 September 2025.
Key financial indicators for the 1- 9 months of 2025:
| EUR millions | Group | Company | ||
| 1-9 months of 2025 | 1-9 months of 2024 | 1-9 months of 2025 | 1-9 months of 2024 | |
| Revenue | 76.7 | 68.0 | 72.8 | 65.0 |
| EBITDA | 40.9 | 36.9 | 38.8 | 35.3 |
| Net profit (loss) | 13.2 | 11.9 | 11.6 | 10.7 |
| Adjusted* net profit (loss) | 13.2 | 12.4 | 11.6 | 11.2 |
Management comment:
The transshipment of liquid energy products remained stable and amounted to 2,701 thousand tons during the reporting period (2,709 thousand tons in 1-9 months of 2024). Revenue from liquid energy terminals for 1-9 months of 2025 amounts to EUR 21.9 million, which is an increase of 4% compared to the same period in 2024 (EUR 21.1 million). This growth was driven by stable transshipment, increased income from tank rentals and liquid energy product storage services.
The average utilization rate of the Klaipeda LNG terminal in 1-9 months of 2025 was 64% (49% in the same period in 2024), while according to the GIE ALSI database, the average utilization rate of European LNG terminals for the same period was 51% (43% in the same period in 2024). The terminal's regasification and reloading volumes reached 23.8 TWh, which is 4.9 TWh higher than in the same period in 2024 (18.9 TWh). Revenue from the regulated LNG business segment amounted to EUR 45.6 million in the first 9 months of 2025, which is an increase of 19% compared to the same period in 2024 (EUR 38.4 million).
Revenue from commercial LNG activities in 1-9 months of 2025 amounts to EUR 9.2 million, which is higher than in the same period of 2024 (EUR 8.5 million). This growth in revenue was driven by LNG projects abroad, operation of terminals in Brazil and Germany, and the development of the Klaipeda LNG value chain. It is important to note that the financial results for the reporting period include a provision of EUR 0.19 million due to a possible claim from a customer.
In addition to its main activities, KN continues to consistently develop new energy product handling projects. This year, the company received a subsidy of EUR 3 million to conduct technical, environmental and commercial studies for a liquid CO2 terminal. KN maintains active contact with partners in the value chain and other interested parties and has conducted a market consultation on the use of the planned infrastructure. Furthermore, an analysis of the occupational safety and environmental requirements for hydrogen and its derivatives was conducted in relation to the development of storage and loading infrastructure for these products. KN is continuing to cooperate with potential producers of hydrogen and its derivatives to assess opportunities for future projects.
- Note: Until the end of 2024, KN used adjusted performance indicators to better disclose the financial indicators of the Group and the Company. Due to the impact of IFRS 16, the Group's and the Company's net profit (loss) indicator was recalculated by eliminating: 1) unrealised foreign currency exchange rate (forex) effects arising from IFRS 16 requirements, 2) related deferred income tax effects resulting from forex, and (3) the impact of financial derivatives. From 2025, following the transfer of ownership rights of the FSRU to KN, adjusted net profit indicators are no longer relevant. However, for the sake of comparability and transparency, historical data, including adjusted net profit indicators, is presented.
Enclosed:
- Consolidated and Separate Financial Statements of AB KN Energies for 9 months period ended 30 September 2025.
Tomas Tumenas, Chief Financial Officer, +370 46 391772.
