KN Energies (KNE1L) Q3 2024 earnings summary

Executive summary

• KN Energies reported strong financial results for the nine months ended 30 September 2024, with significant year-over-year growth in revenue and net profit.

• The Group operates liquid energy terminals and LNG terminals, with expanding international activities, including a new subsidiary in Germany.

• The company remains majority-owned by the State of Lithuania and is listed on NASDAQ Vilnius.

Financial highlights

• Revenue for the Group reached €67.98 million, up from €63.61 million for the same period last year.

• Net profit for the Group was €11.86 million, more than double the €5.45 million reported a year earlier.

• Gross profit increased to €29.24 million from €18.51 million year-over-year.

• Basic and diluted EPS rose to €0.031 from €0.014 year-over-year.

• Cash and cash equivalents stood at €23.11 million at period end, down from €19.54 million at the start of the year.

Outlook and guidance

• No significant events after the reporting period that would impact the financial statements.

• Management did not identify any indications for additional impairment of key assets.