Elecnor Group increases its net profit by 27.3% to 102.9 million euros in the first nine months of the year

In the first nine months of 2026, Grupo Elecnor posted a consolidated net profit attributable to the parent company of EUR 102.9 million, up 27.3% on the same period last year, thereby consolidating the growth trend recorded in recent quarters. 

This performance reflects a structural improvement in the Group's profitability, driven by the strength of the Services business and improved margins in Projects. This is supported by progress towards advanced execution stages in several projects developed by the Group in Latin America and other geographies, which progressively reduces associated risks. All of this is the result of the Group's sound operational performance and progress in achieving the objectives of the 2025-2027 Strategic Plan, which focus on margin growth and cash generation.

EBITDA grew by 16.4% to reach EUR 215.8 million, boosted by growth in both the Services area, which increased by 14% to contribute EUR 115.1 million, and the Projects area, which grew by 38.4% to EUR 122.1 million.

Turnover stood at EUR 3,143.2 million, in line with the same period of the previous year. The international market accounted for 51% of sales and the domestic market for the remaining 49%.

The production backlog to be executed over the next 12 months stands at EUR 2,990.5 million, up 5.1% compared to the close of 2025.

Figures by activity segment

Within the framework of its current organizational structure, Grupo Elecnor has three activity segments, based on the responsibilities assumed by its three General Business Management units: Services, Projects, and Concessions and Own Projects.

In the Services segment, Grupo Elecnor integrates power distribution, telecommunications, maintenance, and installation services, which are essential for generating change and well-being in society. In this business area, Grupo Elecnor achieved an EBITDA of EUR 115.1 million (+14%) and sales of EUR 1,925.5 million (+14%). The domestic market accounted for 73.9% of turnover and the international market for the remaining 26.1%. The EBITDA margin on sales in the first nine months of 2026 stood at 6%.

The Projects area comprises the construction, operation, and maintenance of clean energy generation and transmission infrastructure projects worldwide, improving living conditions in communities and fostering sustainable development. In the first nine months of 2026, this segment posted an EBITDA of EUR 122.1 million (+38.4%) and a turnover of EUR 1,222.6 million (-15.7%), the main pillar of which is the international market, representing 90.6% of sales, while the domestic market accounted for 9.4%. The evolution of sales is mainly due to the degree of progress of certain large-scale international projects. The EBITDA margin on sales reaches 10%. 

The improvement in this segment's profitability is due not only to the natural performance of ongoing projects, but also to disciplined execution, proper risk management, and progress in one of the main objectives of the Strategic Plan: to steadily increase margins and value creation per project. In addition, several projects in Latin America have reached advanced stages of execution, naturally reducing certain construction risks and allowing for a positive evolution of margins. 

Finally, in the Concessions and Own Projects segment, Grupo Elecnor engages in the development and operation of projects aimed at long-term stability and profitability through concession contracts and strategic investments in own projects, reinforcing its portfolio of power transmission and generation infrastructure and boosting the Group's long-term value. This segment is divided between Celeo and the Group's Development and Investment activity.

Celeo is a 51%-owned company jointly managed with APG, one of the world's largest pension funds, which participates in 7,949 km of power transmission lines in Chile, Brazil, and Peru, in operation and under construction, as well as 345 MW of renewable energy (photovoltaic and solar thermal) in Spain and Brazil. Total operating assets managed amounted to approximately EUR 6,000 million at the end of financial year 2025. 

At the end of September 2026, Celeo achieved an EBITDA of EUR 172.3 million, representing an 11% increase compared to the same period of the previous year (figures at 100%, prior to its integration into Grupo Elecnor's accounts). 

This Concessions and Own Projects area also includes Development and Investment activities. In this regard, Grupo Elecnor maintains its strategy of long-term value generation through the development and investment in new businesses, selecting high-value-added geographies and technologies, and seeking unique, high-return projects in both domestic and international markets. This activity involves the identification, analysis, and development of new investment opportunities, the costs of which are recorded in the Group's financial statements as development processes progress.

Grupo Elecnor on the stock exchange

Throughout the first nine months of 2026, Grupo Elecnor's share price grew by 22.5% to close the period at EUR 29.95 per share, reflecting the confidence of shareholders and investors in the company's Strategic Plan and strengthening the Group's value proposition.  

The cash generation of the businesses, as well as the financial assets held by the Group, reinforce the commitment made to distribute more than EUR 220 million in dividends over the three-year period of the 2025-2027 Strategic Plan.