Edison closes the first nine months of the year with revenues of 14.5 billion, an EBITDA of 878 million and a net profit of 143 million euros

In the first nine months of 2026, Renewables and Clients&Services accounted for approximately 45% of Edison’s EBITDA, with the objective of progressively reaching 70% by 2030.

Investment is on the rise: +14%, supporting growth in installed photovoltaic and wind power capacity – which now totals over 1.4 GW – and in the Clients & Services business which is driving an increase in photovoltaic installations in the industrial sector and in heat supplied via district heating.

Milan, October 30, 2026 – Edison’s Board of Directors met yesterday and approved the Quarterly Report as at September 30, 2026. During the first nine months of the year, Edison operated in a context characterised by the escalation of the conflict in the Middle East, high volatility in the energy markets and significantly lower water levels than in 2025. Despite this challenging market context, the Group was able to proactively mitigate key risks, helping to ensure the security of the national energy system and the continuity of supplies to its customers, by drawing on the resilience of its business model and the flexibility of its integrated portfolio.

Sales revenue stood at 14,514 million euros, up from 13,325 million euros in the first nine months of 2025, driven by an increase in the volumes of electricity sold (+7.6%) combined with rising energy prices following the escalation of the military conflict in the Middle East.

Despite the growth in revenue, the Group’s EBITDA stood at 878 million euros, down from 1,081 million euros in the same period in 2025. This result is primarily attributable to the drop in hydroelectric generation, due to reduced rainfall; the impact of the disruption to LNG supplies from Qatar following geopolitical tensions in the Middle East; and the reduction in profit margins in the B2B and B2C sectors against a backdrop of intense market competition. The result was also affected by the decision to participate in the voluntary contribution scheme envisaged by the “Decreto Bollette” for the residential sector.
The Group offset some of these effects through growth in thermoelectric power generation and in wind and photovoltaic power generation, supported by an expansion in installed capacity (+13%), as well as through measures to diversify and optimise its natural gas supplies, thereby confirming the strength of its business model.

Investments over the first nine months of the year rose by over 14%, to 480 million euros compared with the same period in 2025, directed towards increasing installed photovoltaic and wind power capacity, which totalled over 1.4 GW at the end of September, the maintenance of thermoelectric power plants, and the development of the Clients&Services business. Over 80% of these investments are aligned with the United Nations Sustainable Development Goals (SDGs).

Financial debt as at September 30, 2026 reached a debt balance of 148 million euros compared with a credit balance of 219 million euros as at December 31, 2025, due to an increase in working capital resulting from higher wholesale prices and investments made during the period.

EDISON GROUP HIGHLIGHTS