Enexis realised a net profit of € 192 million in the first half of 2025, an increase of € 70 million compared to the first half of 2024. The net profit has increased because revenue in 2025 grew more strongly than costs. This is explained by the fact that the 2025 tariffs include a retroactive compensation for the years 2022, 2023 and 2024.
Capital expenditures increased further from € 648 million over the first half of 2024 to € 889 million over the first half of 2025. This increase is largely attributable to the expansion and upgrading of the electricity grid. Enexis receives delayed compensation for these investments via the tariffs. As a result, the cash flows from operational activities and investments in (in)tangible fixed assets in the coming years are expected to be negative. This cash flow was € 434 million negative in the first half of 2025 (2024: € 286 million negative). We have various measures in place to maintain our creditworthiness at the policy level, thereby ensuring sufficient access to capital.
