The operator of the Lithuanian electricity transmission system, LITGRID, published the results of the second quarter of operations after trading, which worsened in terms of profits.
In the second quarter of 2024, this company's revenue reached 84.773 million. euros, which compared to the same period a year ago, was about six percent more.
LITGRID's EBITDA profit shrank by 26.2 percent to 11.228 million. euros, and net profit – 34.2 percent to 6.613 million. euros. The reason for the drop in profits was the company's expenses, which grew more than the income.
In total, after the first half of this year, this company's income reaches 197.733 million. euros, when a year ago – 166.884 million. euros. EBITDA profit increased by 16.1 percent to 40.599 million. euros, and net – 22.5 percent to 28.123 million. euros.
As the company presents in its report, adjusted EBITDA grew from 20.3 to 24.8 million. EUR, and the adjusted net profit – from 10.4 to 14.7 million. euros.
Since the beginning of the year, LITGRID's market value has increased by 2.2 percent, and during the year – by 4.5 percent.
