# European utilities earnings 2026 > Live situation record from CLSTR: https://clstr.news/situations/european-utilities-earnings-2026 > Updated: 2026-07-28T16:36:44.000Z. Sources: 10. Developments: 2. In late July 2026, Swiss‑German hydro‑electric group Naturenergie Holding AG disclosed a 35 % drop in first‑half net profit, with adjusted EBIT falling to €62 million and revenue down 18 % to €662 million. The decline was attributed to weaker electricity marketing and reduced water flow in its hydro‑generation zones. Despite the slump, Naturenergie kept its full‑year EBIT target of about €120 million and confirmed continued investment of over €180 million in system‑relevant infrastructure. The day after, Spanish utility Naturgy reported stable half‑year revenue, EBITDA and net profit amid gas‑market volatility, emphasizing the resilience of its regulated network business, cash‑flow generation and a manageable debt profile to support dividends and renewable‑energy expansion. A new development came from Portugal’s Energias de Portugal (EDP), which posted a modest 3 % rise in attributable profit to €732 million, driven by strong renewable‑energy output and the start of a new regulatory period for its Iberian networks. Recurring EBITDA increased 5 % to €2.73 billion, with network EBITDA up 14 % and EDP Renováveis EBITDA up 8‑12 % after currency effects. EDP confirmed a €550 million investment in electricity networks in Portugal and Spain – a 24 % increase year‑on‑year – and pledged to keep retail electricity prices unchanged through year‑end. Net debt stood at €17 billion and the firm paid €848 million in cash dividends in Q2. A follow‑up release on 28 July reinforced the 3 % profit increase, noted a 5 % drop in flexible‑generation EBITDA, and highlighted that network EBITDA and renewable‑energy EBITDA continued to grow. EDP’s market share in Portugal reached 59.1 % of customers and 38.6 % of consumption, and CEO Miguel Stilwell d’Andrade flagged the network sector as a key growth driver and reaffirmed the company’s expansion plans in the United States. ## Claims - Naturgy posted stable revenue, EBITDA and net profit. (single source) - The regulated network business provides stable EBITDA contributions for Naturgy. (single source) - Naturgy's gas trading activities are subject to market price volatility. (single source) - Investors are focusing on Naturgy's 2026 guidance, debt levels, and renewable project cash‑flow. (single source) - Naturgy views cash flow and debt as safety nets supporting its dividend expectations. (single source) ## Timeline ### 2026-07-28: EDP posts 3% profit rise to €732 million and pledges stable electricity prices EDP posted €732 million profit, up 3%, and pledged unchanged electricity prices through year‑end, while investing €550 million in Portugal and Spain’s networks. 7 sources. https://clstr.news/cluster/naturgy-reports-stable-earnings-and-dividend-outlook-amid-cashflow-focus ### 2026-07-27: Naturenergie Holding AG reports 2026 half‑year profit drop, confirms outlook Naturenergie Holding AG's 2026 H1 results show EBIT down to €68 m, net profit down 35 % to €46 m, blamed on lower power sales and reduced water flow; full‑year outlook unchanged. 3 sources. https://clstr.news/cluster/naturenergie-holding-ag-reports-2026-halfyear-profit-drop-confirms-outlook --- Cite as: European utilities earnings 2026. CLSTR, https://clstr.news/situations/european-utilities-earnings-2026