ERG stock holds after 2025 results and 2026 guidance

ERG stock (IT0001157020) reflects a business that generated EUR 1,183 million in revenue, EUR 478 million in adjusted EBITDA and EUR 138 million in adjusted net profit in 2025. The company also pointed investors to EUR 540 million to EUR 600 million in adjusted EBITDA for 2026, giving the share a clear earnings reference point from ERG investor relations.

EUR 478 million EBITDA base

That 2025 adjusted EBITDA figure of EUR 478 million sits alongside an adjusted net profit of EUR 138 million and revenue of EUR 1,183 million, which means the company is still operating with a sizable cash-generating base. The 2026 guidance range of EUR 540 million to EUR 600 million implies a potential increase of 12.97% at the low end versus 2025 and 25.94% at the high end, using the same EBITDA metric and year reference.

For investors, the comparison matters more than any generic utility label. ERG is not talking about a vague stabilisation story; it is anchoring expectations to a concrete earnings range and a prior-year baseline that can be checked against the 2025 result set.

Guidance rises to EUR 600 million

The upper end of the 2026 adjusted EBITDA guide, EUR 600 million, is 25.94% above the 2025 figure of EUR 478 million. The lower end, EUR 540 million, is still 12.97% higher, so the range itself points to an earnings step-up rather than a flat year.

The same investor-relations framing also helps with timing. With 2025 already closed and 2026 guidance already visible, the stock story is less about speculation and more about whether the market trusts the delivery path behind the range.

Renewables define the mix

ERG is best read through its renewable power portfolio, which is the operating engine behind the revenue and EBITDA figures. The company’s 2025 results show EUR 1,183 million of revenue and EUR 478 million of adjusted EBITDA, while the 2026 guide signals the same portfolio remains central to the equity case.

That makes the product angle more important than a broad corporate profile. The relevant asset base is the generation portfolio itself, because it links directly to the reported earnings numbers and to the guidance investors are now using as their reference.

Market price and venue

Trading venue, live price, and market capitalization were not available in the source set used for this article, so the stock is framed through the dated earnings and guidance metrics instead. The cleanest market reference remains the 2025 and 2026 earnings bridge, which shows a 12.97% to 25.94% step-up in adjusted EBITDA.

On that basis, ERG stock is being judged against execution on EUR 540 million to EUR 600 million in 2026 adjusted EBITDA after EUR 478 million in 2025. The share story is therefore tied to reported profitability, not narrative alone.

2025 results, 2026 outlook

ERG’s latest investor-relations materials put the 2025 base at EUR 1,183 million in revenue, EUR 478 million in adjusted EBITDA and EUR 138 million in adjusted net profit, with 2026 adjusted EBITDA guided to EUR 540 million to EUR 600 million.

ERG stock at a glance

ERG stock is anchored by the company’s 2025 earnings base and 2026 guidance. Trading price, market capitalization, sector classification, index membership, and next earnings date were not included in the source set available for this article.