EnergyVision (ENRGY) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months of 2025 surged 49% year-over-year to €93.3 million, driven by expansion in wind energy, launch of supply operations in Wallonia, and growth in core activities and customer base, surpassing 120,000 points of distribution.

• Customer satisfaction remains a priority, reflected in a leading Trustpilot score of 4.7, the highest in the Belgian energy sector, and a Net Promoter Score increase from 37 to 39.

• Focus remained on developing recurring business models and expanding both geographically and technologically.

Financial highlights

• Total revenue for YTD Q3 2025 reached €93.3 million, up from €62.5 million in YTD Q3 2024 (+49%).

• Asset-based energy revenue grew 40% to €19.4 million; asset-based mobility rose 73% to €5.2 million.

• Non-asset-based energy revenue surged 1,396% to €43.9 million; EPC segment declined 28% to €32.3 million.

• Belgium region revenue more than doubled (+110%) to €68.3 million; Morocco revenue fell 40%.

Outlook and guidance

• Management maintains mid-term objectives and confirms the group is on track to deliver on these targets.

• Wind portfolio expansion is expected to contribute substantially to EBITDA from 2026 onwards.

• Continued focus on scaling up operations in Wallonia and further wind asset acquisitions.