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EVN (EVN) investor relations material
EVN Q4 24/25 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Financial year 2024-2025 saw solid performance despite challenging energy sector conditions, with EBIT up 21.4% to EUR 490.9m and group net result down 7.4% to EUR 436.7m, at the upper end of guidance.
Investments exceeded EUR 900m for the first time, with a focus on renewables, infrastructure, and major projects like the first 'super hybrid park' and a 60 km drinking water pipeline.
Major strategic update includes a new dividend policy, review of Strategy 2030, and an ambitious EBITDA target of EUR 1.1-1.2bn for 2030, emphasizing organic growth and energy transition.
CapEx program confirmed at around EUR 1bn per year until 2030, with over 80% allocated to Lower Austria for networks, renewables, e-charging, infrastructure, and water.
Sale of the international project business (WTE Group) to STRABAG is progressing, with closing expected in Q1 2026 and segment structure adjusted accordingly.
Financial highlights
Revenue rose 3.8% year-on-year to EUR 3,000.0m, driven by positive volume and price effects in Bulgaria and North Macedonia.
Group EBITDA increased 19.2% year-on-year to EUR 909.1m; EBIT up 21.4% to EUR 490.9m.
Group net result at EUR 436.7m, down 7.4% year-on-year, mainly due to higher tax expense.
Net debt at end of September was EUR 1,155.9m, with a gearing ratio of 17.3%.
Gross cash flow declined 6.5% year-on-year to EUR 919m, mainly due to lower non-cash earnings and reduced dividend from Verbund.
Outlook and guidance
For 2025-2026, EBITDA and group net results are expected to be roughly at prior year levels, with net result guidance of EUR 430-480m.
2030 financial ambition targets EBITDA of EUR 1.1-1.2bn, implying a CAGR of about 8% from current levels.
Dividend policy updated: minimum EUR 0.90 per share, with intention to reach at least EUR 1.10 by 2029-2030 and a payout ratio of ~40%.
Target ROCE above 6% on average; commitment to strong A category credit ratings.
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