The audited turnover of the joint-stock company "Latvenergo" last year amounted to 1.566 billion euros, which is 8.1% less than the previous year. The group’s profit decreased by 27.4% to 198.8 million euros, the company reported.
The turnover of the parent company of the group in 2025 decreased by 10.1% to 950 million euros, while profit fell by 28.6% to 190 million euros.
The EBITDA of the "Latvenergo" group last year was 25.2% lower than in 2024, amounting to 440.1 million euros.
In accordance with regulations, "Latvenergo" plans to pay at least 141 million euros to the state in the form of dividends.
The company explained that the financial results of the group last year were affected by a decline in electricity generation at the Daugava hydropower plants and market conditions related to the decrease in retail electricity prices.
Last year, the "Latvenergo" group produced 4,696 gigawatt-hours of electricity, which is 3.4% less than the previous year. The group’s share in electricity production in the Baltic countries was 24%.
Investments by "Latvenergo" in 2025 amounted to 792 million euros, which is 49% more than the previous year. More than two-thirds, or 548 million euros, were invested in new production capacities of wind and solar power plants.
As reported, in 2024, the turnover of the "Latvenergo" group amounted to 1.704 billion euros, with a profit of 273.7 million euros. The turnover of the parent company of the group in 2024 was 1.057 billion euros, with a profit of 265.6 million euros.
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