Romande Energie Holding (REHN) H2 2024 earnings summary

Executive summary

• 2024 marked a sharp decline in profits after an exceptional 2023, mainly due to regulatory headwinds and squeezed energy supply margins.

• Strategic focus reaffirmed on energy generation, distribution, and renovation, with a vision to make Western Switzerland the first net-zero region.

• Major organizational changes included a new CEO appointment and restructuring of business units.

Financial highlights

• Revenues for 2024 reached CHF 746m, with adjusted EBIT and net profit down sharply but in line with forecasts.

• Net profit was impacted by low contributions from Alpiq and impairment charges, though cash flow remained robust.

• Dividend per share recommended at CHF 1.44.

Outlook and guidance

• 2025 adjusted EBITDA and EBIT expected to be in line with 2024, excluding non-operating or exceptional items.

• Efficiency and savings measures to be implemented, with positive impacts anticipated from 2026.

• Investment plan remains intact, with annual investments of CHF 150–180m planned through 2030.