EQS-News: EVN AG: Business development in the first three quarters of 2025/26
EQS-News: EVN AG / Key word(s): Quarter Results
EVN AG: Business development in the first three quarters of 2025/26
27.08.2026 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Highlights
• Solid business development despite severely below-average wind and
water flows
• Normalisation of operating results in the supply business
• Investments at record level: over half a billion Euros in the
reporting period; thereof 80% in Lower Austria
• Step-by-step expansion of renewable generation capacity
• Performance increase through repowering at Windpark Ebenfurth
finalised
• Construction of the natural filter plant in Reisenberg, Lower Austria
as planned
• Comissioning of the largest battery storage facility of EVN Group in
Probishtip, Northern Macedonia
Energy sector environment
The first three quarters of the 2025/26 financial year were influenced by
substantially colder weather in year-on-year comparison throughout Austria
and North Macedonia. In contrast, the weather was milder than the previous
year in Bulgaria.
The generation coefficients for wind and water in EVN’s core markets were
below the previous year and the long-term average during the reporting
period. Water flows in North Macedonia represented an exception with
volumes that significantly exceeded the long-term average. The average
spot wholesale prices for base load electricity as well as the prices for
CO[2 ]emission certificates were higher than the comparable prior year
prices.
Revenues, EBITDA and Group net result above previous year
Revenue recorded by the EVN Group rose by 3.1% to EUR 2,433.1m in the
first three quarters of 2025/26, above all due to regulatory price effects
at the distribution network companies in Lower Austria and Bulgaria.
Positive volume and price effects also led to higher revenues from the
regulated energy supply business in Bulgaria. This favourable development
was contrasted by price declines in the renewable generation business,
whereby hydropower production was negatively affected by price- as well as
volume-related revenue declines. In addition, the contract for the
provision of reserve capacity from the Theiss power plant was not extended
by the transmission network operator APG and the plant is not producing
for the market.
Other operating income declined by 7.0% year-on-year to EUR 123.0m. In the
previous year, this position included insurance compensation for the
damages caused by flooding in Lower Austria during September 2024. It was
contrasted by a positive, non-recurring effect from the acquisition of a
company in the first quarter of 2025/26.
The cost of energy purchases from third parties and primary energy
expenses increased due to higher upstream gas network costs at Netz
Niederösterreich and higher procurement costs for EVN Wärme. The Bulgarian
network company also recorded an increase in the cost of energy purchases
from third parties despite a decline in the procurement costs for network
losses due to government compensation payments to cover added costs in the
previous year. However, the upward trend was slowed by a reduction in
natural gas procurement volumes and costs as well as lower procurement
costs for generation. In total, this position rose by 1.3% year-on-year to
EUR 1,222.7m.
The cost of materials and services declined by 4.2% year-on-year to EUR
207.0m. The previous year was influenced by repair costs for flood damages
which were covered by insurance.
Adjustments required by collective bargaining agreements were responsible
for an increase of 5.9% in personnel costs to EUR 363.9m. The average
number of employees declined to 7,547 following the sale of WTE
Wassertechnik (previous year: 7,699).
Other operating expenses increased by 9.7% year-on-year to EUR 142.7m.
The share of results from equity accounted investees with operational
nature improved by 9.1% to EUR 128.7m with the further normalisation of
operating results at the supply company EVN KG. This increase was weakened
by lower earnings contributions from RAG (from an unusually high prior
year level), Burgenland Energie and Verbund Innkraftwerke.
Based on these developments, EBITDA rose by 4.9% year-on-year to EUR
748.5m in the first nine months of 2025/26.
The high volume of investments led to an increase of 8.1% in scheduled
depreciation and amortisation, including the effects of impairment
testing, to EUR 288.1m. EBIT rose by 3.0% over the previous year to EUR
460.4m in the first three quarters of 2025/26.
Financial results in the previous year were negatively influenced by a
foreign exchange effect but improved to EUR 116.0m in the reporting period
(previous year: EUR 93.5m). The increase was supported by an increase in
investment results from the R138 fund and cash funds and, above all, by
the dividend from Verbund AG.
The result before income tax rose by 6.6% to EUR 576.3m. After the
deduction of EUR 49.0m in income tax expense (previous year: EUR 53.7m),
which includes a non-recurring effect from the first quarter release of a
provision, and the earnings attributable to non-controlling interests,
Group net result for the period equalled EUR 525.1m. That represents a
year-on-year increase of 20.8%. Group net result also includes EUR 32.5m
from the results of discontinued operations in accordance with IFRS 5
(previous year: EUR –10.0m).
Ambitious investment programme and solid balance sheet structure
The capital structure of EVN is stable and solid and provides a sound
foundation for the realisation of the ambitious investment programme. The
central objective is EVN`s contribution to the transformation of the
energy system as a clear growth perspective. In line with the Strategy
2030, EVN expects to invest an average of EUR 1bn each year until 2030. Of
this total, roughly four-fifths will be directed to Lower Austria and
focus on the network infrastructure, renewable generation, large battery
storage, the e-charging infrastructure and drinking water supplies.
Net debt totalled EUR 942.2m as of 30 June 2026 (30 September 2025: EUR
1,155.9m). The decline resulted primarily from the receipt of the sale
price for the international project business. EVN attaches great
importance to an excellent credit standing. Through its cooperation with
two international rating agencies, EVN aims to maintain ratings in the
solid A range in order to safeguard long-term access to the capital
markets at attractive conditions. Both ratings were confirmed by the
rating agencies in April 2026 and in May 2026: Moody’s: A1 (outlook
stable), Scope Ratings: A+ (outlook stable).
Energy. Water. Life. – Developments in the energy and drinking water
supply business
Energy business
EVN`s electricity generation was 4.2% lower year-on-year at 2,173 GWh in
the reporting period. Renewable generation represented 1,805 GWh (previous
year: 1,789 GWh). The prevailing below average wind and water flows were
mainly offset by the capacity exansion of wind and photovoltaic plants.
The decrease in thermal generation to 368 GWh (previous year: 480 GWh) is
largely attributable to the fact that the contract for the supply of
reserve capacity was not extended by the Austrian transmission network
operator. The share of renewable generation equalled 83.1% (previous year:
78.8%).
The strong momentum for the expansion of renewable generation continued
during the 2025/26 financial year. In the reporting period wind power
generation capacities were increased to 570 MW because of the successful
commissioning respectively repowering of the windparks in Gnadendorf and
Ebenfurth. In Probishtip in Northern Macedonia, the expansion of the
battery storage facility from 20 MWh to 40 MWh was implemented and
comissioned. Battery storage facilities represent a key technology for the
successful road into a renewable energy future because they can optimally
coordinate electricity generation and consumption.
A well secured project pipeline ensures that EVN will meet its expansion
targets for wind power (770 MW), photovoltaics (300 MWp) and battery
storage (300 MW) by 2030.
Drinking water supply
Drinking water supplies in Lower Austria and the improvement of the
related infrastructure to protect supply security remain a central focus
of investments by EVN. The construction of EVN’s eighth natural filter
plant, which is located in Reisenberg, Lower Austria, is proceeding as
planned, and comissioning is scheduled for autumn 2026. The plant will
operate on the basis of membrane technology and, after completion, will
supply roughly 20,000 customers with soft drinking water.
Outlook for the 2025/26 financial year
Group net profit is now expected – also due to positive non-cash,
non-recurring effects – to range from roughly EUR 470m to EUR 490m.
The Letter to Shareholders on the first three quarters of 2025/26 is
available under [1] www.investor.evn.at.
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27.08.2026 CET/CEST This Corporate News was distributed by [2]EQS Group
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Language: English
Company: EVN AG
EVN Platz
2344 Maria Enzersdorf
Austria
Phone: +43-2236-200-12294
E-mail: info@evn.at
Internet: www.evn.at
ISIN: AT0000741053
WKN: 074105
Indices: ATX
Listed: Vienna Stock Exchange (Official Market)
LEI Code: 529900P4JZBFEVNEAE60
EQS News ID: 2389094
End of News EQS News Service
2389094 27.08.2026 CET/CEST
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