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Électricité de Strasbourg Société Anonyme (ELEC) investor relations material
Électricité de Strasbourg Société Anonyme H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for H1 2026 was €628.3M, down 7.2% year-over-year due to lower energy prices.
Operating income fell 29.3% to €83.6M, and net income attributable to the group dropped 32.9% to €56.5M.
Energy markets normalized after two years of exceptional volatility, impacting profitability.
Distribution volumes rose 1% to 3.34 TWh, with 90% of smart meters installed.
The end of the ARENH regime shifted all electricity sourcing to market offers.
Financial highlights
EBITDA for H1 2026 was €117.8M, down from €151.3M in H1 2025.
Gross margin impacted by lower energy prices and increased CEE obligations.
Consolidated equity at June 30, 2026, was €642.5M, down from €675.9M at year-end 2025.
Net cash from operations was €132M, with a negative net change in cash of €-16.2M due to higher dividends and investments.
Dividend payout increased to €13.70 per share (€98.2M total).
Outlook and guidance
Uncertainties remain for H2 2026 regarding climate, energy price volatility, and customer payment risks.
No specific quantitative guidance provided for the remainder of 2026.
- Net income up 5% to €158M, with 27% of revenue and 80% of CAPEX aligned to EU climate goals.ELEC
H2 202510 May 2026 - Net income jumped 61% to €150.4M despite a 15% revenue drop, with a higher dividend proposed.ELEC
H2 202421 Apr 2026 - Net income surged to €76.2M despite a 16% revenue drop, as costs fell and margins improved.ELEC
H1 202421 Apr 2026 - Net income up 6.3% to €84.3M despite 11.3% revenue drop; EBITDA and volumes increased.ELEC
H1 202521 Apr 2026
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