Iren S.p.A.
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About the company
Iren SpA is a prominent multi-utility conglomerate operating across Italy, supported by its various subsidiaries. The company organizes its extensive operations into distinct divisions: Networks, Waste Management, Energy, Market, and a broader 'Other Services' category. A core part of its business involves the generation and supply of electricity, sourced predominantly from hydroelectric, thermoelectric, cogeneration, and other renewable facilities.
- CEO
- Gianluca Bufo
- IPO
- 2013
- Employees
- 11,908
- HQ
- Reggio Emilia, RE, IT
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- Market Cap
- $3.70B
- P/E
- 10.42
- Fwd P/E
- 12.87
- PEG
- -2.50
- P/S
- 0.51
- P/B
- 0.91
- EV/EBITDA
- 5.95
- Div Yield
- 5.76%
- Gross Margin
- 31.62%
- Op Margin
- 8.67%
- Net Margin
- 4.96%
- ROE
- 8.94%
- ROIC
- 3.81%
Latest fiscal year · YoY change
- Revenue
- $6.42B+8.0%
- Gross Profit
- $2.63B+36.8%
- Op Income
- $398.86M
- Net Income
- $300.43M+11.9%
- EPS
- $0.23+9.5%
- OCF Growth
- -9.8%
- FCF Growth
- -79.3%
- 52W High
- $3.30
- 52W Low
- $2.61
- 50D MA
- $2.88
- 200D MA
- $2.85
- Beta
- 0.80
- RSI (14)
- 99
- Avg Volume
- 78
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Iren reported higher 2025 EBITDA and net profit, supported by EGEA consolidation, regulated-business growth, and synergies, while guiding to 4% EBITDA growth in 2026 with stable leverage.· March 23, 2026
- 2025 EBITDA rose 6% to over EUR 1.05 billion / EUR 1.25 billion, and group net profit increased 12% to EUR 301 million.
- Net financial debt increased to EUR 4.2 billion, but leverage improved to 3.1x EBITDA, helped by operating cash flow of EUR 943 million covering EUR 925 million of tactical investments.
- EGEA consolidation was a major driver, contributing about EUR 60 million to EBITDA, with synergies of about EUR 20 million in 2025 and another EUR 20 million targeted for 2026.
- Management guided to 2026 EBITDA growth of 4%, investments of about EUR 950 million, and stable debt/EBITDA at 3.1x.
- The company said it does not provide net profit guidance for 2026, and hydro production is expected to be lower early in the year due to depleted reservoirs and maintenance.
- results":"For 2025, Iren reported EBITDA of EUR 1.25 billion, up 6%, EBIT of EUR 430 million, up 2%, and net profit of EUR 301 million, up 12%. Net financial debt was EUR 4.22 billion, up 2%, and debt/EBITDA improved to 3.1x. Operating cash flow was EUR 943 million, which fully covered EUR 925 million of tactical investments; total investments were EUR 1.35 billion, including EUR 125 million of technical investments, up 12%. For 2026, management guided to EBITDA growth of 4% versus 2025, investments of about EUR 950 million, and stable leverage at 3.1x. They also said EBITDA growth should be supported by about EUR 20 million of additional synergies, around EUR 20 million from efficiency projects, modest organic growth in Networks and Environment, and a roughly EUR 50 million higher capacity-market contribution in Energy, partly offset by a EUR 10 million decline in Market. No net profit guidance was given for 2026.","ceo":"Luca dal Fabbro framed 2025 as a year of strategic execution, highlighting the strengthening of regulated and semi-regulated businesses, the benefits of EGEA consolidation, and the role of sustainability in investment decisions. He said the company is entering 2026 focused on executing the strategic plan, maintaining financial targets and ratings, and continuing efficiency gains. On asset rotation, he said no decision has been taken outside the plan and that Iren is not planning to sell photovoltaic assets, while still keeping an eye on both acquisition and disposal opportunities.","cfo":"Giovanni Gazza gave the detailed bridge behind the numbers: Networks EBITDA rose 11% to EUR 51 million, Environment EBITDA increased 8% to EUR 277 million, and Energy saw mixed trends with renewables down EUR 35 million but thermal and cogeneration up EUR 90 million. He cited depreciation and amortization up EUR 61 million, bad debt provisions up EUR 12 million, and an average cost of debt of 2.4%, while the tax rate fell to 27.8% partly due to EGEA-related items. He also explained that operating cash flow of EUR 943 million covered EUR 925 million of tactical capex, with working capital affected by about EUR 80 million of tariffs receivables, EUR 60 million from lower payables, and about EUR 10 million of RRN contributions receivable. For 2026, he said hedge coverage is already in place, including 65% of renewable production at EUR 105/MWh and a fixed-rate supply coverage of 5%, while Superbonus credits generated in 2025 should be liquidated along with about EUR 90 million more in 2026.","qanda":"Analysts focused on how geopolitical and government energy measures could affect 2026-2027, what net income could do next year, and whether supply margins or gas procurement introduce new risks. Management said the government measures should not have a high economic impact, and that hedging in 2026 already covers 65% of renewables at EUR 105/MWh, leaving about 600 GWh uncovered; they also said supply margins may soften by about EUR 5 per customer in late 2026. On 2027, management said renewables production is expected at 2.1 TWh with about 20% hedged, and emphasized that gas procurement contracts are domestic with no force majeure clauses, reducing supply risk. They also clarified that net profit guidance is not provided, hydro production in 2026 will be down due to low reservoirs and maintenance, and extra-cap receivables should partly reverse over the following years.","bull":"The positive case is that Iren is showing steady EBITDA and profit growth while expanding the more stable regulated businesses, which now represent 22% of group EBITDA. EGEA integration, synergies, and a strong investment plan are still contributing, and management sounded confident enough to guide to another year of EBITDA growth and stable leverage in 2026.","bear":"The main risks discussed were volatile energy markets, weaker hydro output early in 2026, and pressure on market margins, especially in supply where management expects about EUR 5 per customer lower margins later in 2026. There are also ongoing issues around lower hydro reservoirs, some nonrecurring tax and working-capital effects, and uncertainty on hydro concessions and possible government intervention in the sector."}]}】【。िkeeper to=canmore.create_textdoc code pp 北京赛车有analysis 诺果 ំពេញ ીટ to=canmore.create_textdoc 天天中彩票开奖 ્યો code 微信上的天天中彩票 to=canmore.create_textdoc code 彩神争霸网站 to=canmore.create_textdoc code resulting in final_json सकते हैं}] }]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}}}{
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 38.7%
- Shares Outstanding
- 1.28B
- Float Shares
- 496.93M
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