REN – National Energy Networks made a profit of 139.3 million euros in the first nine months of the year, an increase of 34.1% over the 103.9 million euros recorded in the same period of 2025, today announced the company.
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12/11/2026
by
Lusa
A REN – National Energy Networks made a profit of 139.3 million euros in the first nine months of the year, an increase of 34.1% over the 103.9 million euros recorded in the same period of 2025, today announced the company.
According to the report sent to the Securities Market Commission (SCM), the result before interest, taxes, depreciation and depreciation (EBITDA) increased 10.2%, to EUR 422.9 million, compared to the EUR 383.6 million recorded in the first nine months of last year.
REN allocates profit growth to improving operational performance and reducing burdens on the extraordinary contribution to the energy sector (ECSE), which decreased by EUR 19.9 million, due to the end of the contribution to the gas business and the favourable decisions of the Constitutional Court.
This is the end of this contribution to the gas business, with an impact of EUR 10 million in 2026, and the recognition of gains of 9.4 million following favourable decisions of the Constitutional Court in cases relating to REN Portgas and REN Gas pipelines.
The investment (CAPEX) decreased 15.9% compared to the same period, to 272.9 million euros, reflecting “especially some delays already anticipated in the licensing process of the ongoing projects, as well as delays resulting from the need for priority intervention in the recovery of infrastructure affected by Storm Kristin”, the company led by Rodrigo Costa supports.
On the other hand, transfers to the asset base increased by 0.4% to EUR 100.6 million.
Operational costs rose by 10.8% to EUR 98.9 million due to the increase in external costs by EUR 6.7 million and “staff costs by EUR 3 million” at a time when the number of workers increased to 822.
The net debt of REN amounted to EUR 2,330.9 million at the end of September, a reduction of 4.5% from the same period. However, “excluding tariff deviations, it reached 2,304.5 million euros, less 2.6% than in the same period”.
The average cost of debt increased slightly from 2.55% to 2.57%.
With regard to operational activity, electricity consumption in Portugal reached 40.5 terawatts-hour (TWh) in the first nine months of the year, the highest value ever for this period, representing a growth of 3.4% compared to 2025.
Renewable energy production supplied 64% of electricity consumption, while natural gas production represented 14% and the remaining 22% corresponded to imported energy, “the highest import balance ever for this period,” he adds.
The third quarter was also marked by changes in the shareholder structure of REN, with the entry of the State – through Parpublica – into the capital of the company, through the acquisition of the participation of 13.7% of Pontegadea (the owner of Zara) and an agreement to acquire the 5.3% held by Fidelity.
The latter operation was concluded in the meantime, with Parpublic holding 19% of REN's capital.