Latvenergo's provisional turnover for the previous year was 1.566 billion euros, representing an 8.1% decline from the previous year along with a significant drop in profits.
AS 'Latvenergo' reported a provisional turnover of 1.566 billion euros for the previous year, marking an 8.1% decrease compared to the previous year, alongside a profit drop of 27.5%, amounting to 273.7 million euros. The parent company's turnover for 2025 also saw a decline of 10.1%, totaling 949.8 million euros, while profits dropped by 28.5% to 190 million euros.
The financial report attributed the downturn to a significant decrease in revenues from electricity sales, which dropped by 128.8 million euros, primarily due to a 17% reduction in retail electricity prices. Additionally, the EBITDA for the year was down 25.3% from 2024, totaling 439.7 million euros, indicating ongoing challenges in the energy market.
Last year, the Latvenegro group generated 4696 gigawatt-hours (GWh) of electricity, reflecting a 3% decrease from the previous year. The company's balanced energy production portfolio predominantly consists of hydroelectric and thermal power plants, ensuring a diverse energy mix even amid financial struggles.
