Q3 2026 EVN AG Earnings Call Transcript
Key Points
- EVN AG (WBO:EVN) reported solid results for the first three quarters of fiscal 2025-2026, with EBITDA up 5% and group net result up 21% to EUR525.1 million.
- The regulated network business in Austria delivered a strong performance, with EBITDA up 21% to EUR348 million, driven by growth in the regulated asset base and higher tariffs.
- The Southeast Europe segment showed solid growth, with EBITDA up 19% to EUR154 million, supported by the absence of prior-year regulatory compensation factors and higher energy demand.
- EVN AG (WBO:EVN) is expanding its renewable generation portfolio, with wind capacity reaching 570 MW and a solid project pipeline until 2030, including a repowering project that will increase output by 60%.
- The company is making progress in battery storage, having commissioned its first large facility in Bulgaria and expanded it to 40 MWh, with a target of 300 MWh by 2030.
- The sale of the international project business positively impacted net debt by EUR206 million, reducing it to EUR942 million, and the company maintains strong financial flexibility with EUR765 million in undrawn credit lines.
- EVN AG (WBO:EVN) raised its full-year guidance for group net result to EUR470-490 million, reflecting positive one-off effects and strong performance.
- Hydro generation conditions were historically weak due to an exceptionally dry and hot summer, leading to a decline in generation volumes and earnings.
- The Generation segment saw a significant decline, with EBITDA down 42% to EUR76 million, due to lower electricity prices, reduced hydro volumes, and the non-renewal of a reserve capacity contract for the Theiss power plant.
- Electricity generation volumes declined by 7% year-on-year, impacted by below-average wind and water flows and the loss of the thermal generation contract.
- The company expects a negative contribution to net result in the fourth quarter, with a projected range of minus EUR35 million to minus EUR55 million, due to seasonal factors.
- Cash flow from operating activities was affected by an increase in trade receivables and a decline in trade liabilities, leading to a working capital drag.
- Gross cash flow was down 1.6% year-on-year to EUR750 million, partly due to noncash earnings components related to the deconsolidation of the international project business.
- The company faces ongoing challenges from market price volatility and climate-related effects, which could impact future earnings.
Good morning, ladies and gentlemen, and welcome to EVN's conference call for the first three quarter of 2025-2026 financial year. The conference will be recorded. (Operator Instructions)
Let me now turn the floor over to Alexandra Wittmann.
Good morning, everybody, to EVN's conference call on the results for the first 3 quarters of our current financial year. The results we will present today are solid and fully in line with the developments we reported for the first 6 months of the financial year. Before we dive into the key financials and the segments, let me start with a few operational highlights. As in many parts of Europe, Austria experienced an exceptionally dry and extremely hot summer. As a result, hydro generation conditions were historically weak.
In addition, the combination of heat waves and reduced base load from hydro generation led to increased volatility in intraday power prices. The weather developments we have seen this year demonstrate the
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
