naturenergie holding (NEAG) H2 2025 earnings summary

Executive summary

• Achieved stable operational results with Adjusted EBIT of €208.8M, slightly below prior year (€210.5M), and a net profit of €188.2M, up €7.9M year-over-year.

• Revenue declined to €1,557.7M (from €1,708.4M) due to lower energy sales, especially in the business customer segment.

• Maintained strong financial stability with an equity ratio of 66.0% and increased net financial assets to €183.7M.

• Significant investments in renewable energy, grid expansion, and digitalization, with gross investments reaching €173.8M.

Financial highlights

• Net revenue: €1,557.7M (down from €1,708.4M year-over-year).

• Adjusted EBIT: €208.8M (down from €210.5M year-over-year).

• Net profit: €188.2M (up from €180.3M year-over-year).

• Free cash flow: €91.1M (down from €115.3M year-over-year).

• ROCE: 19.6% (down from 21.5% year-over-year).

• Equity ratio: 66.0% (up from 61.6% year-over-year).

Outlook and guidance

• Continued focus on investment in renewable energy, grid infrastructure, and digitalization for 2026.

• Expected gross investment volume for 2026 above €180M.

• EBIT for 2026 projected to decrease to around €120M due to lower market prices and external factors.