Elecnor
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Elecnor (ENO) investor relations material

Elecnor Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary27 Feb, 2026

Executive summary

  • Revenue reached €4,387.3 million, up 15.1% year-over-year, with international sales growing 17.7% and domestic sales 11.9%.

  • EBITDA rose to €267.8 million, a 71.5% increase, reflecting strong operational performance across all business lines.

  • Net profit from continuing operations was €110.7 million, returning to pre-Enerfín sale levels and meeting strategic targets.

  • Dividend for 2025 set at €44 million, with a commitment to distribute over €220 million during 2025–2027.

  • Workforce expanded by 14.6%, now exceeding 28,000 employees.

Financial highlights

  • Operating cash flow before tax was €364.2 million, up 10.8% year-over-year.

  • Net financial position with recourse at year-end: €199 million, with a negative debt/EBITDA ratio of -0.80x.

  • Executable backlog for the next 12 months increased by 5% year-over-year to €2,844.6 million.

  • Market capitalization at year-end exceeded €2,100 million, with share price rising 48.2% in 2025.

  • Dividend payments totaled €273 million for 2025.

Outlook and guidance

  • Strategic plan targets for 2025–2027 reaffirmed, aiming for over €220 million in dividends and continued focus on cash generation and profitability.

  • Profitability and cash generation objectives maintained, with continued focus on exceeding €100 million net profit annually.

  • Positive outlook supported by macro trends: energy transition, electrification, urbanization, digitalization, and sustainability.

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Frequently asked questions

Elecnor S.A. is a global corporation engaged in the development, construction, and management of projects across a wide range of sectors. It specializes in providing comprehensive services for essential services and sustainable projects in the fields of electricity, power generation, telecommunications and systems, facilities engineering, gas, construction, maintenance, environmental and water services, railway, and aerospace industries. Elecnor's approach integrates engineering, procurement, and construction activities, highlighting its capability in distributing electricity, operating power transport lines and transformation substations, and generating power from renewable sources like wind farms, solar plants, combined-cycle plants, and hydroelectric plants. The company also focuses on gas-related services, including gas pipeline transportation and distribution. The company is headquartered in Madrid, Spain, and its shares are listed on the Spanish stock exchange.

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