Half Year 2026 EVN AG Earnings Call Transcript
Key Points
- EVN AG (WBO:EVN) reported a 3.2% increase in revenue year-on-year, reaching EUR1.8 billion, driven by positive regulatory price effects in network companies in Lower Austria and Bulgaria.
- The Networks segment showed substantial improvement, reflecting organic growth from investments in electricity grids and a stable contribution from the drinking water business.
- The heating business in Austria and operations in Southeastern Europe delivered solid performances, contributing to overall growth.
- EVN AG (WBO:EVN) is on track with its investment program, planning to invest up to EUR1 billion annually until 2030, focusing on network infrastructure, renewable generation, and e-charging infrastructure.
- The company confirmed its guidance for the financial year, expecting group net results to be within a range of EUR430 million to EUR480 million, with a long-term ambition to achieve an EBITDA of EUR1.1 billion to EUR1.2 billion by 2030.
- The Generation segment suffered due to below-average wind and hydro conditions, leading to a decline in electricity generation volumes by 10% year-on-year.
- Price levels for the marketing of own production declined year-on-year, impacting revenue from renewable generation.
- The non-renewal of the reserve capacity contract for the Theiss power plant led to a significant decline in thermal generation.
- The share of results from equity accounted investees was down by 10%, mainly due to declines at RAG and Burgenland Energie.
- The introduction of a new social tariff under Austria's electricity law dampened potential improvements in the supply company, EVN KG, by approximately EUR13 million.
Good morning, ladies and gentlemen, and welcome to EVN's results for the first half of the 2025-2026 financial year. (Operator Instructions) Let me now turn the floor over to Alexandra Wittmann.
Thank you. Good morning, everybody, to EVN's conference call on the results for the first half of our current financial year. Overall, EVN's performance has been sound and in line with expectations. The main deviation from our planning assumptions were the below average wind and hydro conditions in the first six months. However, on group level, our diversified business model helped to offset such effects.
Our Generation segment suffered from these weaker generation conditions. Price levels for the marketing of own production also declined year-on-year. The contributions from the equity consolidated companies, RAG and Burgenland Energie were also lower. RAG's results returned to a normalized level after last year's exceptional performance.
These negative developments were
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