Financials Iren SpA

Stocks

IRE

IT0003027817

Multiline Utilities

Market Closed - Borsa Italiana Other stock markets 11:45:00 2026-07-07 EDT			5-day change	1st Jan Change
2.560 ^EUR	0.00%		+3.31%	+0.16%

06-26	Italy's Iren to accelerate power grid investments amid heat wave	RE
06-23	Indexes Slide, STM Brings Up the Rear on the MIB	AN

Projected Income Statement: Iren SpA

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	4,956	7,863	6,490	6,043	6,574	6,894	6,947	6,992
Change	-	58.66%	-17.46%	-6.89%	8.79%	4.87%	0.76%	0.65%
EBITDA ¹	998	1,055	1,197	1,274	1,353	1,405	1,465	1,513
Change	-	5.68%	13.49%	6.45%	6.19%	3.88%	4.27%	3.22%
EBIT ¹	454	464	464.6	519.7	530	571	609.4	638.3
Change	-	2.2%	0.14%	11.85%	1.98%	7.74%	6.72%	4.75%
Interest Paid ¹	-40.6	-81.91	-98.63	-90.63	-107.8	-115.3	-124.5	-130
Earnings before Tax (EBT) ¹	423.8	398.8	379.1	435.3	438.4	463.5	492.3	514.3
Change	-	-5.9%	-4.94%	14.82%	0.72%	5.72%	6.21%	4.48%
Net income ¹	303.1	226	254.8	268.5	300.5	310	321.5	345.2
Change	-	-25.43%	12.75%	5.35%	11.95%	3.13%	3.72%	7.37%
Announcement Date	3/29/22	3/23/23	3/28/24	4/3/25	3/23/26	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1
Net sales ¹	864.9	1,099	1,852	2,186	1,526	1,932	-	2,020	1,194	-	-	1,568	1,130	1,459	1,887	2,093	1,393	1,354	1,734	1,814
Change	-	27.04%	68.57%	18.02%	-30.19%	26.61%	-	-	-40.89%	-	-	-	-27.91%	29.09%	29.3%	10.93%	-33.45%	-2.78%	28.07%	4.6%
EBITDA ¹	204.6	215.1	265.4	363	199.7	196.6	295	368	238.5	250.8	339.6	383.2	252.8	288	350.6	418.5	307.5	277.3	349.4	417.8
Change	-	5.15%	23.36%	36.77%	-44.99%	-1.55%	50.05%	24.75%	-35.19%	5.18%	35.38%	12.84%	-34.03%	13.93%	21.73%	19.37%	-26.52%	-9.83%	26.01%	19.59%
EBIT ¹	66.95	85.26	117.6	226	56.9	41.4	139.7	210	38.28	76.38	140	213.3	67.69	98	141	223.9	102.4	75.15	128.5	211.7
Change	-	27.35%	37.94%	92.18%	-74.82%	-27.24%	237.44%	50.32%	-81.77%	99.56%	83.27%	52.38%	-68.27%	44.78%	43.83%	58.86%	-54.27%	-26.61%	71%	64.71%
Charge d'intérêts ¹	-10.6	-12.53	-13.43	-15.07	-16.63	-18.58	-31.63	-20.1	-20.31	-50.68	-23.26	-	-19.78	-23.55	-24.03	-28.03	-31.25	-32.6	-15.93	-27.39
Earnings before Tax (EBT) ¹	62.82	72.52	108.5	213.5	43.6	22.8	124.7	193	20.97	50.77	114.4	-	48.25	78	124.4	201.3	74.18	53.73	117.8	187.2
Change	-	15.45%	49.61%	96.77%	-79.58%	-47.71%	447.12%	54.72%	-89.14%	142.14%	125.29%	-	-	61.67%	59.45%	61.87%	-63.15%	-27.57%	119.17%	59.01%
Net income ¹	72.55	48.28	61.6	118	15.3	4.5	88.26	135	7.897	33.92	77.99	-	22.84	48	75.92	135.6	47.97	35.47	81.5	128.6
Change	-	-33.45%	27.58%	91.56%	-87.03%	-70.59%	1,861.22%	52.97%	-94.15%	329.57%	129.9%	-	-	110.17%	58.16%	78.63%	-64.63%	-26.06%	129.8%	57.79%
Announcement Date	8/3/21	11/11/21	3/29/22	5/12/22	7/28/22	11/3/22	3/23/23	5/11/23	7/27/23	11/9/23	3/28/24	5/30/24	7/29/24	11/12/24	4/3/25	5/15/25	7/30/25	11/14/25	3/23/26	5/11/26

¹EUR in Million

Estimates

Fiscal Period: December	2022 S1	2023 S1	2024 S1	2025 S1
Net sales ¹	3,712	3,214	2,698	3,486
Change	-	-13.42%	-16.05%	29.19%
EBITDA ¹	562.7	606.5	636	726
Change	-	7.78%	4.86%	14.15%
EBIT ¹	282.9	248.3	281	326.3
Change	-	-12.24%	13.18%	16.12%
Charge d'intérêts ¹	-31.7	-40.41	-43.04	-59.28
Earnings before Tax (EBT) ¹	257.1	214	241	275.5
Change	-	-16.78%	12.63%	14.32%
Net income ¹	133.3	142.9	145	183.6
Change	-	7.23%	1.45%	26.6%
Announcement Date	7/28/22	7/27/23	7/29/24	7/30/25

¹EUR in Million

Estimates

Forecast Balance Sheet: Iren SpA

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	2,906	3,347	3,932	4,083	4,222	4,330	4,458	4,577
Change	-	15.18%	17.48%	3.84%	3.4%	2.56%	2.96%	2.67%
Announcement Date	3/29/22	3/23/23	3/28/24	4/3/25	3/23/26	-	-	-

¹EUR in Million

Estimates

Cash Flow Forecast: Iren SpA

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	757.8	897.6	866.6	830.2	925.4	959.7	973.3	1,029
Change	-	18.45%	-3.45%	-4.2%	11.47%	3.7%	1.42%	5.72%
Free Cash Flow (FCF) ¹	192.7	185.5	-186.3	253	152.4	111	99	24
Change	-	-3.74%	-200.44%	235.77%	-39.73%	-27.19%	-10.81%	-75.76%
Announcement Date	3/29/22	3/23/23	3/28/24	4/3/25	3/23/26	-	-	-

¹EUR in Million

Estimates

Forecast Financial Ratios: Iren SpA

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	20.14%	13.41%	18.44%	21.08%	20.58%	20.39%	21.09%	21.63%
EBIT Margin (%)	9.16%	5.9%	7.16%	8.6%	8.06%	8.28%	8.77%	9.13%
EBT Margin (%)	8.55%	5.07%	5.84%	7.2%	6.67%	6.72%	7.09%	7.36%
Net margin (%)	6.12%	2.87%	3.93%	4.44%	4.57%	4.5%	4.63%	4.94%
FCF margin (%)	3.89%	2.36%	-2.87%	4.19%	2.32%	1.61%	1.43%	0.34%
FCF / Net Income (%)	63.58%	82.07%	-73.11%	94.22%	50.72%	35.81%	30.8%	6.95%
Profitability
ROA	-	-	-	-	-	-	-	-
ROE	10.61%	8.5%	7.92%	8.15%	8.52%	9.6%	9.52%	9.46%
Financial Health
Leverage (Debt/EBITDA)	2.91x	3.17x	3.28x	3.2x	3.12x	3.08x	3.04x	3.03x
Debt / Free cash flow	15.08x	18.04x	-21.1x	16.14x	27.69x	39.01x	45.03x	190.72x
Capital Intensity
CAPEX / Current Assets (%)	15.29%	11.41%	13.35%	13.74%	14.08%	13.92%	14.01%	14.72%
CAPEX / EBITDA (%)	75.93%	85.1%	72.4%	65.16%	68.4%	68.28%	66.42%	68.03%
CAPEX / FCF (%)	393.25%	483.88%	-465.14%	328.2%	607.03%	864.56%	983.16%	4,287.5%
Items per share
Cash flow per share ¹	0.7406	0.844	0.5339	0.8442	0.8401	0.8676	0.9143	0.9517
Change	-	13.96%	-36.74%	58.12%	-0.49%	3.27%	5.38%	4.09%
Dividend per Share ¹	0.105	-	0.1188	0.1283	0.1386	0.1497	0.1617	0.1696
Change	-	-	-	8%	8.03%	7.99%	8.01%	4.9%
Book Value Per Share ¹	2.003	2.14	2.544	2.57	2.852	2.673	2.776	2.884
Change	-	6.81%	18.9%	1.03%	10.97%	-6.27%	3.83%	3.9%
EPS ¹	0.24	0.18	0.2	0.2	0.23	0.2384	0.2465	0.2655
Change	-	-25%	11.11%	0%	15%	3.66%	3.39%	7.72%
Nbr of stocks (in thousands)	1,283,076	1,283,076	1,283,076	1,283,076	1,283,076	1,283,076	1,283,076	1,283,076
Announcement Date	3/29/22	3/23/23	3/28/24	4/3/25	3/23/26	-	-	-