AB Amber Grid (AMG1L) Q4 2025 earnings summary

Executive summary

• Revenue for 2025 was €69.6 million, down 6% year-over-year due to lower transmission prices and reduced demand for balancing gas.

• Net profit for 2025 was €1.36 million, a significant decrease from €8.3 million in 2024, mainly due to lower EBITDA and higher payroll and other expenses.

• The company disposed of its remaining 34% stake in GET Baltic in October 2025, impacting net results through derivative-related gains and losses.

Financial highlights

• EBITDA for 2025 was €17.3 million, down from €26.5 million in 2024; adjusted EBITDA was €27.4 million.

• Operating profit (EBIT) for 2025 was €2.8 million, compared to €11.2 million in 2024.

• Earnings per share for 2025 were €0.01, down from €0.05 in 2024.

• Total assets at year-end 2025 were €324.7 million, slightly down from €327.2 million in 2024.

• Net debt increased to €126.4 million at year-end 2025 from €82.5 million in 2024, mainly due to new borrowings.

Outlook and guidance

• The company expects stable regulated activity, with capital investments guided by a 10-year investment plan and regulatory methodology.

• No material changes in property, plant, and equipment valuation or impairment are anticipated.