Italy · Delayed Price · Currency is EUR Iren SpA Earnings Call Transcripts
Fiscal Year 2026
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First half 2026 saw resilient performance with EBITDA up 1% and strong regulated business growth, despite hydroelectric shortfalls. Revised 2026 guidance reflects lower hydro output but expects 3% EBITDA and 2% net income growth, with continued investment and stable margins.
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Q1 2026 saw stable EBITDA and a 5% drop in net profit, with strong cash flow reducing net debt. Guidance for 2026 is confirmed, expecting 4% EBITDA and 2% net profit growth, driven by regulated businesses, synergy plans, and new renewable capacity.
Fiscal Year 2025
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EBITDA rose 6% and net profit 12% year-over-year, driven by organic growth, synergies, and Egea consolidation. 2026 guidance targets 4% EBITDA growth, €950 million in investments, and stable leverage, with hedging strategies mitigating energy price volatility.
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Nine-month 2025 results show strong growth in EBITDA and net profit, driven by acquisitions, synergies, and increased investments. The 2025-2030 plan targets €6.9 billion in investments, focusing on regulated sectors, with a robust dividend policy and improved financial ratios.
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Double-digit growth in H1 with EBITDA up 14% and net profit up 24% year-over-year, driven by EGEA consolidation and strong segment performance. 2025 guidance is confirmed, but H2 is expected to be weaker due to non-recurring items and lower hydro output.
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Q1 2025 delivered strong growth in EBITDA (+9%) and net profit (+8%), driven by electricity recovery, Egea integration, and robust regulated sector performance. Net debt fell below EUR 4 billion, and 2025 guidance was confirmed, with continued investment and stable leverage.
Fiscal Year 2024
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EBITDA grew 6.5% and net profit rose 5% in 2024, driven by networks, market, and M&A. 2025 guidance targets further EBITDA growth, stable leverage, and major investments, with continued operational synergies and integration of recent acquisitions.
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EBITDA rose 8% year-on-year to EUR 924 million, with strong network and waste performance offsetting energy margin pressures. FY2024 guidance was raised, with EBITDA expected at EUR 1,250 million and net profit at EUR 260–270 million. Net financial position increased due to acquisitions and investments.
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EBITDA rose 5% year-over-year in H1 2024, driven by regulated network growth and strong retail margins, while net profit increased 2%. Investments and green financing supported network and renewable expansion. 2024 guidance is confirmed, with continued focus on regulated growth and ESG progress.
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The updated 2030 plan prioritizes regulated businesses, reduces CapEx, and targets €1.8bn EBITDA with 80% from regulated activities. Investments focus on networks, waste, renewables, and customer growth, while maintaining strong financial discipline and an attractive dividend policy.