EnergyVision (ENRGY) Q3 2026 earnings summary

Executive summary

• Q1–Q3 2026 revenue reached €142.0M, up 52.2% YoY; connection points rose 80.4% to 223,914 at September 30.

• Growth reflected customer and asset expansion, including DATS 24 integration; secured wind volumes support 2027 earnings visibility.

Financial highlights

• Revenue was €142.0M versus €93.3M; segment revenue: ABE €26.0M (+34.0%), ABM €9.0M (+73.1%), NABE €96.1M (+118.9%) and EPC €26.2M (-22.0%).

• Belgium revenue reached €118.4M (+73.4%); China €17.4M (-10.3%), Morocco €5.7M (+3.6%) and Other €0.5M.

• Intersegment revenue was -€15.3M versus -€7.5M in Q1–Q3 2025.

Outlook and guidance

• Underlying EBITDA growth guidance reaffirmed at 35% for 2026 and at least 40% for 2027; 2029 target remains at least €125M.

• Positive free cash flow after investments expected by 2027 at the latest, with an annual investment program of ~€70M.

• Expected wind generation is 70 GWh in 2026; more than 150 GWh secured for 2027.

• Opdrachtencentrale/public-sector charging tender revenue is excluded from guidance because take-up and timing are uncertain; it represents potential upside.