ENEA (ENA) Q2 2026 earnings summary

Executive summary

• Net profit for H1 2026 reached PLN 1,503.7 million, down from PLN 2,023.0 million in H1 2025, with comprehensive income at PLN 1,565.1 million for the period.

• Revenue from sales for H1 2026 was PLN 12,811.0 million, a decrease from PLN 13,764.7 million in H1 2025.

• The Group continued its strategic investments in renewable energy and distribution network expansion.

Financial highlights

• EBITDA for H1 2026 was PLN 2,752.2 million, compared to PLN 3,386.8 million in H1 2025.

• Net profit attributable to shareholders was PLN 1,497.1 million (PLN 2.83 per share), down from PLN 1,925.4 million (PLN 3.63 per share) year-over-year.

• Cash and cash equivalents at 30 June 2026 stood at PLN 5,361.4 million, up from PLN 4,524.8 million at year-end 2025.

• Total assets were PLN 39,809.7 million, with equity at PLN 19,006.5 million.

• Capital expenditures on property, plant, and equipment totaled PLN 2,886.4 million in H1 2026.

Outlook and guidance

• The Group is focused on transformation towards low-carbon energy, expanding renewable generation and distribution infrastructure.

• Major grant funding and preferential loans support ongoing investment in grid modernization and renewables.

• The planned demerger of trading operations is not expected to materially impact future consolidated results.