ERG S.p.A. Stock Under Pressure After Results: ERG Increases Revenue and EBITDA 2025 - 1 Euro Dividend and Focus on Repowering and Storage

Genoa (Italy) - The Italian renewable energy company ERG S.p.A. has published its results for the 2025 financial year. While revenue and EBITDA increased, net profit declined. The stock of the RENIXX-listed company fell significantly yesterday.

ERG S.p.A. reported adjusted revenue of €752 million for 2025, up from €738 million in 2024. Adjusted EBITDA rose to €540 million, compared with €535 million the previous year. Adjusted net profit fell by 11% from €175 million to €155 million, partly due to higher depreciation and financial expenses. Electricity output increased slightly from 7.0 TWh in 2024 to 7.2 TWh in 2025.

At the same time, ERG S.p.A. continued to expand its generation portfolio. Between 2025 and early 2026, the company installed around 150 MW of new capacity. In Italy, it secured 20-year tariff awards for two wind repowering projects totaling 141 MW. Additionally, ERG won three auctions in Germany for 40 MW. The company also signed eight power purchase agreements (PPAs) with industrial and utility partners for a total of 8.7 TWh.

According to the company, wind conditions in 2025 were among the weakest ever recorded. However, new installed capacity helped partially offset the impact at the operational level. “Full year 2025 results show a slight increase in EBITDA compared to 2024, despite exceptionally low wind conditions, thanks to the contribution of the new capacity installed both in Italy and abroad,” commented CEO Paolo Merli.

Strategically, ERG is focusing on wind repowering and the expansion of battery energy storage systems (BESS). The project pipeline now totals around 5 GW, including 230 MW under construction and approximately 700 MW of highly developed projects.

For 2026, the company plans to build around 230 MW and develop an additional 700 MW of projects, evenly split between wind repowering and storage. The board has also proposed a dividend of €1 per share for 2025 (2024: €1 per share).

Following the publication of the annual results, ERG S.p.A.’s stock, listed in the RENIXX World, fell 9% to €22.38 (closing price, 12 March 2026, Stuttgart Stock Exchange). Negative factors included the decline in net profit, the unchanged dividend, and general market and electricity price risks.

Source: IWR Online, Mar 03 2026