Iren Group Reports Stable H1 2026 Results with Hydro Production Guidance Adjusted
Iren Group's H1 2026 EBITDA reached €732 million, marking a 1% increase, while net income rose to €182 million. The company revised its hydroelectric production forecast downward due to drought conditions, indicating ongoing vulnerabilities in energy generation and market competition.
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Iren Group's EBITDA for the first half of 2026 was €732 million, reflecting a 1% year-on-year increase, despite a 190 GWh decline in hydroelectric production. The company has adjusted its annual hydroelectric production guidance from 1,200 GWh to 1,050 GWh, citing reduced water levels and precipitation.
Operational cash flow was robust at €512 million, covering technical investments of €409 million. The net financial debt increased to €4.276 billion, with a stable cost of debt at 2.36%. Iren's diverse revenue streams, with 72% of EBITDA from regulated activities, enhance resilience against market volatility.
However, pressure in the retail gas segment led to a loss of 50,000 customers, raising concerns about competitive positioning. The revised guidance anticipates a 3% EBITDA growth and a net income increase of about 2% for 2026.
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