The preliminary net profit of the Electrica Group was 1,218.9 million RON in 2025, 159.2% above the restated profit recorded in 2024 of 470.2 million RON (an increase of 748.6 million RON), and investments amounted to 878.4 million RON, compared to the planned value of 797.8 without additional works, up 8.4% or 68.2 million RON compared to 810.2 million RON, investments made in 2024.

In 2025, at the Electrica Group level, EBITDA recorded an increase of 64.5%, respectively 934.4 million RON, reaching a value of 2,383.3 million RON, compared to the value of 1,449.0 million RON achieved in 2024. The EBITDA increase comes mainly from the variation of the supply and distribution segments, both having a positive evolution in 2025 compared to 2024.

Among the two segments, the variation of the supply had the highest share, recording an improvement in EBITDA of +650.5 million RON, reaching the value of 572.4 million RON from -78.1 million RON (negative) in the previous period. The increase is due to the improvement of the segment’s operational performance, with an increase in revenues of 2,125.8 million RON, an increase diminished by the variation of other revenues by 1,031.4 million RON (decrease), mainly of subsidies.

The operating profit for 2025 registered an increase of RON 929.8 million, reaching RON 1,782.5 million, compared to RON 852.7 million achieved in 2024.

The net profit for 2025 registered an increase of RON 748.6 million, reaching RON 1,218.9 million, from a profit of RON 470.2 million for the previous year.

“The preliminary results for 2025 denote a structural change in the performance of the Electrica Group. We recorded a net profit of 1.22 billion lei and an EBITDA of 2.38 billion lei, the best results in the company’s recent history, supported by operational efficiency and rigorous capital management. We consolidated the supply segment in a competitive environment, capitalized on the market adjustments generated by the elimination of the cap and maintained the pace of investments above the planned level. Exceeding the commissioning schedule and increasing the regulated asset base to 8.6 billion lei strengthen our financial profile and the predictability of future flows,” said Alexandru Chiriță, CEO of Electrica.

“The increase in operational performance, the development of renewable production capacities and the advancement of storage projects position us in a new stage. The Electrica Group is entering a sustainable growth cycle, based on efficiency, stability and investments that support Romania’s energy security.”

In the supply segment, revenues recorded a significant increase in 2025 by approximately 2,125.8 million RON, or 36.5%, compared to last year, reaching the value of 7,944.6 million RON. The increase in revenues from the supply of electricity and natural gas was mainly determined by the abandonment of the cap for electricity starting with July 1, 2025 and partly by the entry into force of GEO no. 6/2025 (which allowed the recognition in the acquisition cost of a percentage of up to 10% of the equivalent value of imbalances for the period April-June 2025).

The elimination of the capping scheme allowed the supply subsidiary to build its pricing strategy on competitive market and profitability criteria, adapting it according to customer categories. The contribution of the supply segment to the Group’s consolidated revenues is 72.2%, and the contribution to the Group’s EBITDA is 24.0%.

Subsidy revenues for 2025 (6 months of capping in force) amounted to RON 1,081.8 million compared to RON 2,127.6 million recorded in 2024 (12 months of capping in force). As of December 31, 2025, estimated subsidies to be collected from the authorities total RON 2,518.3 million (Ministry of Energy/ANPIS: RON 2,495.7 million; AJPIS: RON 22.5 million). Of the value of subsidies to be collected (ME/ANPIS), the amount of 2,442.8 million RON represents requests already submitted and not collected, while 53.0 million RON were requests not yet registered.

In the distribution segment, revenues increased by approximately 500.1 million RON, or 10.6%, to 5,209.7 million RON (of which 2,261.5 million RON revenues with external customers), compared to 2024, as a result of both the increase in the distribution tariff by 12.5% ​​according to ANRE order no. 97/2024, and the increase in the volume of distributed energy by 1.5%, compared to 2024. The contribution of the electricity distribution segment to the Group’s consolidated revenues is 27.0%, and the contribution to the Group’s EBITDA is 78.8%.

The volume of electricity distributed was 18.03 TWh, up 1.5% compared to 2024. The Distribuție Energie Electrică România (DEER) subsidiary serves approximately 4.011 million users in 18 counties, covering approximately 40.8% of Romania’s surface area.

In 2025, DEER carried out and commissioned investments worth 878.4 million RON, of which: 844 million RON represent works from the investment plan for 2025 (including additional works), respectively a degree of achievement of 115% of the value of the planned commissioning program, and 34.4 million RON represent investment works carried over from 2024;

The volume of electricity supplied on the retail market – 7.3 TWh, slightly decreasing by 5.0% compared to 2024; Electrica Furnizare supplies electricity to approximately 3.3 million consumption places (the most of all suppliers in Romania), of which 1.7 million consumption places on the competitive market, as well as 1.53 million consumption places under the universal service regime and as a supplier of last resort;

Market share in electricity supply – Electrica Furnizare is the second largest electricity supplier in Romania (based on volumes supplied), with a total market share in 2025 of 14.73% and 10.78% under the competitive regime, according to the latest available ANRE reports (November 2025). On the competitive market, it ranks 3rd among suppliers.

The volume of electricity produced was 16.69 GWh, up 65.8% compared to the previous year. The increase reflects the entry into operation of the Vulturu and Satu Mare 2 photovoltaic parks, from July 2025 and October 2025, respectively;

In the production segment, the total capacity of the Electrica Group’s projects, whether operational or in various stages of development, is 307.5 MWh in renewable energy production projects (photovoltaic and wind), of which 46.5 MWh are currently operational. Electrica also has projects in various stages of approximately 1169.5 MWh in 19 energy storage projects.