In the first half of this year, the LTG Group maintained its growth momentum while focusing on the delivery of railway projects of strategic importance to Lithuania. Key achievements during the period included steady progress on the Rail Baltica project, rapid advancement of the Vilnius–Klaipėda electrification works, and continued investment in military mobility infrastructure.

‘Today, the LTG Group is much more than a transport company. Our results for the first half of the year clearly demonstrate this. We are a reliable partner for passengers, businesses and the state, providing critically important mobility, logistics and infrastructure services. Through the implementation of Rail Baltica, electrification and military mobility projects, we are strengthening Lithuania’s integration into the European transport network, enhancing the country’s resilience, and developing infrastructure that is essential for businesses, residents and the needs of NATO allies alike. These are long-term investments in a safer, more sustainable and more competitive future for Lithuania’, emphasised Arūnas Rumskas, Acting Chief Executive Officer of the LTG Group.

Rising Revenue from Passenger and Freight Transport

LTG Group revenue in the first half of 2026 amounted to €261.2 million, an increase of €17.4 million, or 7.1%, compared with the first half of 2025.

Revenue from freight transport increased by €7.9 million, or 5.5%, year-on-year, reaching €152.1 million. This growth was driven by improved performance at the Group’s freight operator LTG Cargo, which recorded increases in freight volumes on both domestic and international routes.

Passenger transport revenue rose by €2.2 million, or 7.1%, in the first half of 2026, reaching €33.4 million. The increase was largely attributable to the growing popularity of LTG Link’s international services to Latvia, Estonia and Poland.

Revenue from state subsidies totalled €61.5 million during the first six months of the year, compared with €54.9 million in the corresponding period of 2025.

Lower Profit Due to Accidents and Rising Energy Prices

LTG Group’s net profit for the first half of the year amounted to €10.4 million, compared with €19.2 million in the same period of 2025.

The decline in profitability was primarily attributable to costs incurred as a result of two train accidents that occurred in the spring, as well as rising energy prices. Following the accidents in Jiesia and Gudžiūnai in May, the Group incurred approximately €4.2 million in additional costs related to infrastructure restoration, rolling stock repairs and the maintenance of passenger services.

In the first half of 2026, LTG Group generated EBITDA of €77.0 million, achieving an EBITDA margin of 29.8%. In the corresponding period of 2025, EBITDA stood at €84.4 million, with an EBITDA margin of 34.9%.

Record Passenger Numbers

Passenger operator LTG Link continued to report growing passenger volumes. More than 3 million passengers travelled by rail during the first half of the year, marking the highest six-month figure on record.

LTG Link carried 11.2% more passengers than in the same period last year. The significant increase was largely driven by a 50% discount on rail tickets introduced in the spring.

The Vilnius–Kaunas–Vilnius route remained the most popular service, attracting almost one million passengers during the first six months of the year. The recently launched Vilnius–Kaunas–Vilnius Express service also contributed to the route’s growing popularity.

Passenger numbers on international services increased as well, with approximately 300,000 passengers travelling on routes to Latvia, Estonia and Poland during the first half of the year.

Diversification Offsets Challenges in the Freight Market

Freight volumes on the Lithuanian rail network totalled 10.6 million tonnes in the first half of the year, representing a 7.9% decrease compared with the same period last year.

The decline was largely due to the continuing reduction in eastbound freight flows as a consequence of the war in Ukraine and international sanctions.

Despite lower freight volumes, freight transport revenue increased by 5.5% to €152.1 million.

The Group continued to strengthen its freight operations in Western Europe. LTG Cargo Polska, the Polish subsidiary of LTG Cargo, increased transport volumes by almost 14% during the first half of the year. In June, the company also obtained a Single Safety Certificate, enabling it to operate independently in Germany.

Progress on Rail Baltica Remains the Top Priority

LTG Infra, the manager of Lithuania’s public railway infrastructure, continued work on strategically important infrastructure modernisation projects during the first half of the year.

New Rail Baltica design contracts were signed, a procurement process was launched for the section between Panevėžys and the Lithuanian-Latvian border, design work commenced on the Kaunas railway node, and the special territorial plan for the Kaunas–Vilnius section was approved.

A contract was also signed for the design and deployment of a signalling system on the existing Rail Baltica line between the Lithuanian-Polish border and Palemonas. This development will significantly increase the capacity of the route and facilitate more efficient movement of NATO allies’ freight traffic.