Q3 2025 ERG SpA Earnings Call Transcript
Key Points
- ERG SpA (FRA:ER9) reported a 9% year-on-year increase in EBITDA for the third quarter, reaching EUR119 million, driven by new capacity and improved wind conditions.
- The company successfully commissioned its first battery storage plant in Vicari, highlighting its commitment to flexibility and innovation in energy storage.
- ERG SpA (FRA:ER9) signed three significant PPAs with the FS Group, securing long-term revenue streams for existing plants that have exited incentive schemes.
- The company maintained its top-tier ESG ratings, with improvements in sustainable features and a high GRESB score of 98 out of 100.
- ERG SpA (FRA:ER9) is on track with its strategy to grow its asset portfolio, with new projects in Northern Ireland and participation in auctions in Italy and Germany.
- Adjusted net profit for the first nine months was down 16% year-on-year, primarily due to higher depreciation and financial charges.
- Investments in the first nine months of the year decreased significantly to EUR164 million, reflecting a reduction in CapEx compared to the previous year.
- The company faced lower capture prices in Italy and Spain, impacting revenues despite improved wind conditions.
- ERG SpA (FRA:ER9) experienced lower production in several regions, including Germany, Spain, and Eastern Europe, due to weaker wind conditions and other operational challenges.
- The company's net financial position increased by 5% compared to the end of 2024, influenced by dividend payments and buybacks totaling over EUR160 million.
Good afternoon. This is the chorus conference call operator. Welcome and thank you for joining the ERG third-quarter 2025 results conference call. (Operator Instructions) At this time, I would like to turn the conference over to Mr. Paolo Merli, CEO of ERG. Please go ahead, sir.
Good afternoon everyone and welcome to our third-quarter results webcast. Here with me as usual is our CFO Michele . So let's get started with the usual overview of results over the period.
I'm on page number 4. The EBITDA in the first nine months closed at EUR393 million a touch higher year-on-year. While looking at the third-quarter, as was the case in Q2, results are up year on year with the EBITDA at EUR119 million plus 9% year-on-year. The performance of the quarter mainly reflects the full contribution of the new capacity as well as better wind conditions.
Just like to remind you that the third-quarter in '24 was very weak from this point of view. These two positives, I mean the full contribution
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