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

   View original content: [3]EQS News

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   Language:    English
   Company:     EVN AG
                EVN Platz
                2344 Maria Enzersdorf
                Austria
   Phone:       +43-2236-200-12294
   E-mail:      [email protected]
   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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