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EVN (EVN) investor relations material
EVN Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue increased by 5% year-over-year to EUR 2,360.4m, with EBITDA up 14.2% to EUR 713.6m and EBIT up 18.3% to EUR 447.1m.
Group net result declined by 9.4% to EUR 434.7m, mainly due to lower financial results and an impairment loss from discontinued operations.
Operating business benefited from cooler weather, increasing natural gas and heat sales, but electricity sales to industrial customers in Germany fell.
Ambitious investment program continued, with CapEx up 22% to EUR 535 million, targeting annual investments of EUR 900 million until 2030.
Major contract signed for the sale of the international project business to STRABAG, with closing expected within six months.
Financial highlights
Revenue rose 5% year-on-year to EUR 2.4 billion, driven by positive volume and price effects in network and supply companies.
EBITDA increased 14.2% to EUR 713.6m; EBIT up 18.3% to EUR 447.1m.
Group net result at EUR 434.7m, down 9.4% year-on-year; financial result dropped 43.3% due to lower dividend income.
Net debt at EUR 1,119.5m, with gearing ratio at 16.6%.
Gross cash flow at EUR 762m, cash flow from operating activities at EUR 627.2m.
Outlook and guidance
Full-year net result expected between EUR 400m and EUR 440m, assuming stable regulatory and energy policy environment.
Annual investments of EUR 900m planned until 2030, focused on networks, renewables, e-charging, and water.
Dividend policy targets at least EUR 0.82 per share, with a medium-term payout ratio of 40% of group net results, adjusted for extraordinary effects.
EBIT for the energy segment expected to stabilize, with midterm EBIT margin target of 3%-5%.
Southeast Europe segment EBIT guidance remains EUR 60m–EUR 90m.
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