Elecnor (ENO) H1 2025 earnings summary

Executive summary

• Continuing-operations net profit attributable to shareholders doubled to €50.2 million from €25.0 million in H1 2024; H1 2024 total net profit was €848 million after the €823.4 million Enerfín sale gain.

• Turnover rose 16.8% to €2,001.5 million and EBITDA increased 86% to €111.8 million.

• The production portfolio executable over the next 12 months reached €2,863.8 million, up 5.72% from year-end 2024.

• Activities are managed across Services, Projects, and Concessions and Own Projects.

Financial highlights

• Domestic turnover rose 10.2% to €827.8 million; international turnover increased 21.9% to €1,173.7 million.

• Net cash from operating activities increased to €171.8 million from €37.1 million year-over-year.

• Pre-tax operating cash flow from continuing operations was €40.5 million, up from €20.6 million in H1 2024.

• Operating income increased to €58.5 million from €44.9 million year-over-year.

Outlook and guidance

• The contract portfolio and market demand are expected to support continued growth and profitability in 2025.

• Strategic focus includes energy transition, urban planning and digitalisation, and sustainability; targets include returning to pre-Enerfín sale profit levels.