Lithuanian state-owned energy company Ignitis Group reported a 40.6% decrease in net profit to 163.9 million euros, despite a 3.4% increase in adjusted EBITDA.

Lithuania's state-owned Ignitis Group has agreed to sell a 49% stake in the Vilnius Combined Heat and Power Plant (VKJ) for 120 million euros to Quaero European Infrastructure Fund III, managed by Swiss asset management firm Quaero Capital.

The supervisory board of Ignitis Group has approved a new board for a four-year term.