Erg, profit rises to EUR 61 million in the first quarter of the year

In Q1 2026, Erg reported EBITDA of €167m, up 16% from Q1 2025's €143m, and net profit of €61m, up 24% from Q1 2025's €49m; as well as adjusted revenues of €231m, up from Q1 2025's €199m. This growth is due, a note from the Italian energy group explained, to a recovery in windiness and the contribution of new installed capacity, which came on stream between 2025 and 2026, in the UK, France and Germany, only partially offset by lower prices captured compared to Q1 2025, mainly due to lower hedges inherent with time-to-delivery at the time of execution.

In light of the results of the first three months, Erg confirms its 2026 guidance with an expected Ebitda between EUR 520 and 590 million, investments between EUR 330 and 380 million, and net debt between EUR 1.95 and 2.05 billion. 'The good performance in the first quarter,' says Paolo Merli, the group's CEO, 'mainly reflects the higher installed capacity and better windiness in Europe. During the period, we achieved important results in terms of development, increasingly convinced that renewables and storage systems represent the most effective answer to guarantee energy security and stabilise costs, in a context still marked by strong geopolitical tensions and a renewed commitment to decarbonisation".

At today's Board of Directors meeting, which approved the quarterly report, 'we approved,' Merli continued, 'two projects worth over EUR 60 million in investments, the revamping of solar plants in Italia for a total of 41 megawatts and the construction of a 25-megawatt wind farm in France. During the period, we obtained authorisations for 226 megawatts, mainly in Italia and to a lesser extent in France, between wind repowering projects and storage systems, which represent our two main lines of development. These projects are now suitable for contracting the sale of energy on a long-term basis, through PPAs (power purchase agreements, ndr) or Cfd tariffs (contracts for difference, ndr) awarded at auction. During the period, liability management transactions amounting to almost EUR 500 million were also carried out, which further strengthened the capital structure and optimised the cost of debt. In this context, we are very pleased with the maintenance of the investment grade rating announced yesterday by Fitch. For 2026, therefore, we confirm the guidance'.