AB KN Energies (hereinafter - KNE, the Company) announces the unaudited consolidated (hereinafter - the Group) and separate financial results for the twelve months ended 31 December 2025.
Key financial indicators for the 1-12 months of 2025:
| EUR millions | Group | Company | ||
| 1-12 months of 2025 | 1-12 months of 2024 | 1-12 months of 2025 | 1-12 months of 2024 | |
| Revenue | 105.2 | 93.7 | 99.9 | 89.4 |
| EBITDA | 53.5 | 48.8 | 51.2 | 46.4 |
| Net profit (loss) | 18.2 | 15.4 | 16.7 | 13.8 |
Management comment:
Consistent execution of Group's long-term strategy, expansion of international LNG activities and operational efficiency initiatives drove stronger Group results in 2025. Compared with 2024, Group revenue grew by 12% to EUR 105.2 million, EBITDA increased by 10% to EUR 53.5 million, and net profit rose by 19% to EUR 18.2 million (according to unaudited data).
Liquid energy products: focus on new products
Among KNE's four operating segments - Liquid Energy Products Terminals, Regulated LNG Activities, Commercial LNG Activities and New Energies - the strongest results in 2025 were delivered by Liquid Energy Products Terminals: segment net profit increased by 68% compared with 2024 and reached EUR 5.1 million.
The strong result was driven by the extension of cooperation with long-standing partner AB ORLEN Lietuva and growing cargo flows from the Mažeikiai refinery, as well as several years of consistent investment into creating handling capabilities for new products, especially biofuels. Significant focus was placed on improving terminal efficiency, with benefits visible, for example, in lower costs in the liquid energy products terminals segment.
In 2025, nearly 3.6 million tonnes of products were handled at KNE's Liquid Energy Products Terminals (2024 - 3.4 million tonnes), i.e. 5% more, while biofuel handling volumes grew by 16%. Last year, the portfolio of products handled at the Company's terminals was expanded with UCO (used cooking oil) and SAF (sustainable aviation fuel).
A year of change at the Klaipeda LNG Terminal
After KNE purchased and registered FSRU Independence in the Lithuanian Register of Seagoing Ships at the end of 2024, stable and reliable operations of the Klaipeda LNG Terminal continued throughout 2025. The terminal served six customers from Lithuania, Latvia, Estonia, Poland and Norway. A total of 83 LNG transfer operations were carried out, 34 LNG import cargoes were received, 30.5 TWh of LNG was regasified, and average terminal utilisation reached 68%, while the European average was around 52%.
High utilisation was driven by demand for LNG Terminal capacity across the region, international gas interconnections, a pricing model that meets customer needs and LNG market prices. In addition, the Company is actively looking for opportunities to offer new services to customers. For example, in October last year the Klaipeda LNG Terminal started providing a biomethane virtual liquefaction service.
Efficiency is also being increased at the Klaipeda LNG Terminal: in 2025, an electricity connection project to the terminal was launched. Once implemented, renewable electricity will be supplied to the Klaipeda LNG Terminal, reducing the need for diesel and natural gas and significantly lowering terminal emissions.
In 2025, net profit of the Regulated LNG Activities segment amounted to EUR 10.2 million and was 32% higher compared with 2024.
Commercial LNG activities: a record year at the LNG reloading station and a focus on Asia
In the Commercial LNG Activities segment, which includes the Klaipeda LNG reloading station and KNE's international operations, net profit reached EUR 3.4 million in 2025.
In 2025, Company continued the commercial operation of four LNG terminals in Germany, and in mid-summer began technical operation of the Wilhelmshaven-2 LNG terminal. Stable profit was also delivered by technical operation of the LNG terminal at the Port of Açu in Brazil, while the start-up of the GNA II gas-fired power plant further strengthened the strategic significance of this infrastructure and KNE role.
In international operations, the Company continues actively exploring opportunities to participate in new floating LNG terminal projects, including as an investor where possible. The strategic international growth regions remain Latin America, Europe, as well as the Asia-Pacific region. In 2025, cooperation with South Korea's SK Innovation E&S was extended to jointly develop LNG infrastructure, hydrogen, CO2 capture and storage projects. KNE also strengthened its international ties in Vietnam and other Asia-Pacific countries to support engagement in rapidly developing LNG projects in the region.
Important to highlight the exceptionally successful and active year at the Klaipeda LNG reloading station. In this small-scale LNG terminal, commercially operated by our partner - Poland's ORLEN - 2025 was the strongest year since the station began operations in 2017. More than 1.8 thousand LNG trucks were loaded, delivering nearly 260 thousand cubic metres of LNG to customers in the Baltic States and Poland.
Vision: a CO, export terminal
In 2025, KNE continued focusing on future energy directions: discussions continued on adapting existing infrastructure for handling hydrogen carriers and for flow battery projects, however the greatest attention was devoted to the CCS (carbon capture and storage) project CCS Baltic Consortium launched in early 2022 and developing rapidly.
Several important breakthroughs were achieved in 2025: the project's Project of Common Interest (PCI) status was renewed, and more than EUR 3 million in EU funding was secured for technical and commercial studies. The initial feasibility study was completed, the environmental impact assessment was launched, and the procurement for front-end engineering design (FEED) is being finalised. The work underway will enable a final investment decision in the coming years and the start of construction.
The project makes a significant contribution to the EU's climate neutrality objectives for 2050 by enabling hard-to-abate industries to reduce CO2 emissions, opening infrastructure to other regional companies and attracting new investments and innovation to the Baltic economies.
Enclosed:
Consolidated and Separate Financial Statements of AB KN Energies for 12 months period ended 31 December 2025.
Tomas Tumenas, Chief Financial Officer, +370 46 391772
