Erg, Ebitda up but net profit down

The Erg group closed 2025 with an Ebitda of €540 million, "up on 2024 albeit at the lower end of the guidance range". Net profit, on the other hand, was down 11% to €155m compared to €175m in 2024: it was affected by "higher depreciation and amortisation and financial charges". In addition, 'adjusted revenue in 2025 is EUR 752m, up from 2024 (EUR 738m), due to the full contribution of new installed capacity progressively between 2024 and 2025, largely offset by significantly lower windiness than historical averages in Europe and a declining price scenario starting in the second half of 2025'.

For 2026 Erg estimates "a gross operating margin in the range of EUR 520 to 590 million. Investments are in a range of between 330 and 380 million (235 million in 2025) and mainly include the recent acquisition in the UK and the construction of the wind farms scheduled to come into operation between 2026 and 2027 for 45 megawatts and 77 megawatts of new capacity, respectively".

"We will end 2025," says CEO Paolo Merli, "with a slightly higher gross operating margin than in 2024 despite exceptionally low wind speeds, thanks to the contribution of new installed capacity in Italia and abroad. The board of directors approved the strategic guidelines on which we will work during 2026, to better define the next five-year business plan, which we expect to present between the end of this year and the beginning of 2027, while waiting for the market and regulatory scenario to be better defined. We have clear priorities for 2026: the construction of about 230 megawatts and the development of another 700 megawatts, equally divided between wind repowering projects and storage systems.