Amber Grid, the Lithuanian gas transmission system operator, generated revenues of EUR 20.8 million in the first quarter of 2025. This is 1% more than in the same period last year, when revenues amounted to EUR 20.6 million. Net profit amounted to EUR 4.2 million, 6.9% higher than at the beginning of 2024.
"The financial results for the first quarter of 2025 reflect the company's steady growth and efficient cost management. These results show our ability to adapt to market conditions while maintaining a strong financial position," said Gytis Fominas, CFO of Amber Grid.
The higher operating profitability was due to lower natural gas costs for technological needs. This quarter, these costs amounted to EUR 0.7 million (EUR 1.3 million in Q1 2024). The main contributor to the decrease in costs was the lower demand for gas for compressor operation and other process applications.
Revenue from gas transmission activities amounted to EUR 16.3 million (Q1 2024: EUR 17.7 million), while balancing products and other revenues increased to EUR 4.4 million (Q1 2024: EUR 2.9 million).
EBITDA (earnings before interest, taxes, depreciation and amortisation) for Q1 2025 amounted to EUR 8.9 million, with an EBITDA margin of 43%. Adjusted EBITDA, which eliminates and reflects regulatory adjustments, amounted to EUR 8.3 million and was EUR 0.1 million higher than in Q1 2024.
In the first quarter of 2025, 5.7 terawatt hours (TWh) of gas was consumed in Lithuania, 3.6 % more than in the winter of 2024, when the country's gas demand was 5.5 TWh. This year, more gas was used in electricity generation. Whereas last year, higher gas demand was recorded in the heat generation sector. In January-March, 8.8 TWh of gas was delivered to Lithuania, not counting transit to Kaliningrad. This is 13.5% more than in the same period last year, when 7.8 TWh of gas was transported to Lithuania.
In January - March 2025, 0.6 TWh of gas was transported to Europe via the GIPL interconnection between Lithuania and Poland. 2.4 TWh of gas was transported for the needs of Latvia, Estonia and Finland. This is 31% more compared to the same period in 2024. In January-March 2025, 84% (7.4 TWh) of all gas transported to the system were delivered through the Klaipėda LNG terminal, which is the main source of gas supply to Lithuania and the other Baltic countries. The flow from Latvia accounted for 14.8 % (1.3 TWh). During the first quarter of the year, 38 GWh of biomethane were injected from biogas producers into the gas transmission system.
