Madrid, 28 july 2025

The Elecnor Group doubled its net profit in the first semester of 2025

EBITDA passed EUR 111 million, 86% more than the previous year

In the first semester of 2025, the Elecnor Group posted a net profit attributable to Ongoing Operations of EUR 50.2 million, double the amount for the first semester of the previous year (EUR 25 million). Nevertheless, in the first semester of 2024, the Elecnor Group registered significant capital gains for the sale of Enerfín, which meant that the net profit achieved in that period rose to as much as EUR 848 million.

Furthermore, at the end of June 2025, turnover climbed to EUR 2,002 million, an increase of 16.8% in relation to the same period in 2024, and grew both in the domestic sphere (+10.2%) and the international area (21.9%). In turn, EBITDA exceeded EUR 111 million, a rise of 86% as regards the first semester of 2024, when it reached EUR 60.1 million.

The production portfolio of projects due to be executed in the next 12 months amounts to EUR 2,863.8 million and expanded by 5.72% compared to the figures at the end of 2024 (EUR 2,708.7 million).

Figures by business segments

In the course of the first semester of 2025, the Elecnor Group cemented the new organisational structure of the company, which was divided into three business areas (Services, Projects and Investment) with a greater capacity for adaptation and risk management.

In the Services segment, Elecnor includes the services of energy distribution, telecommunications, maintenance and installation, which are essential for the creation of socio-economic progress and well-being in society. In this business division, the Elecnor Group achieved an EBITDA of EUR 64 million (+35.6%), a net profit of over EUR 26 million (+5.7%) and sales of EUR 1,085 million (+7.4%).

The Projects division concentrates on the construction, operation and maintenance of energy infrastructures on a global scale, including renewable energy farms, high-tension power lines or substations. During the first semester of 2025, the company reported an EBITDA of EUR 54.4 million (+74.4%), a net profit of EUR 22.4 million (+43.6%) and sales of EUR 914.9 million (+27.3%). Likewise, among the projects in the portfolio, of note is the construction of renewable power plants and energy transmission both nationally and internationally.

Lastly, in the Investment segment, the Elecnor Group focuses on participating in strategic assets such as power transmission lines or renewable power plants, which provide stable income and long-term value, thereby consolidating the Group’s presence in sectors with significant potential. In this segment, there is a distinction between Celeo—which operates almost 8,000 kilometres of power transmission lines and 345 MW in renewable power plants and has attained a net profit attributable to the Elecnor Group of EUR 9.18 million (+29.9%)—and the activity of promotion and investment, in which the Group upholds its strategy of long-term value creation, through promoting and investing in new business lines, choosing markets and technologies with significant added value and which are highly profitable.

Financial situation

During the first semester of 2025, the Elecnor Group boosted its financial strength by actively managing its capital structure and a financing policy in line with sustainability criteria and the ethical commitment that is characteristic of the Elecnor Group regarding its finances and projects. A significant event in this period was that the Group signed a new syndicated financing agreement for a total amount of EUR 350 million, which expires in 2030. This financing, classified as sustainable because it complies with the Sustainability Linked Loan Principles, replaces the agreement in force since 2014 and reinforces the investment capacity of the Group within the framework of its strategic plan.

The Group closed the period with a positive net financial position with recourse of EUR 25.5 million, compared to the EUR 187.5 million registered on 31 December 2024. This evolution was mainly determined by the final dividend payment made last June for the amount of EUR 265 million.

In terms of cash generation, the net cash flow from the operating activities before tax came to EUR 40.5 million, as opposed to the EUR 20.6 million in the same period of the previous year, fuelled by the operational improvement in the business.

Outlook for 2025

Over the coming months, the Elecnor Group’s activities will benefit from the three major trends that are predicted to drive worldwide economic development: the energy transition and electrification of the economy; the urbanisation and digitalisation of society; and environmental and social sustainability.

The sound contract portfolio and the current market situation, in which organisations with Elecnor’s capacity and singularity are in great demand, will enable the Group to continue to strengthen its leading position and profitability in 2025, in line with the Group’s Strategic Plan, whose objective in this respect is to achieve the level results prior to the sale of Enerfín.

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