Recurring segments in the home market boost growth engine in the first half of 2026
Highlights – H1 2026
- Exceptionally high customer satisfaction: Net Promoter Score rises from 40 to 43, Trustpilot score stands at 4.7/5 and EnergyVision was awarded the ‘Best of the Test’ label among energy suppliers by Testaankoop in 2026.
- Revenue growth of 57.0% to €98.1 million, an increase of €35.6 million compared with H1 2025. Growth is almost entirely in the home market, where all segments are growing, except EPC (Engineering, Procurement, Construction).
- Underlying EBITDA increased by 45.2% to €22.8 million (compared with €15.7 million in the first half of last year).
- Net profit increased by 53.3% to €6.9 million, compared with €4.5 million in the first half of last year.
- Further growth and diversification of the production portfolio, with a substantial contribution from wind energy and a significant portion of the energy requirements for 2027 already covered by own and contracted production.
- The acceleration in growth continues and is generating sustainable profitability. We are raising our underlying EBITDA growth target for 2026 from +30% to 35%, and expect underlying EBITDA to grow by at least 40% in 2027 (more than 90% of underlying EBITDA for 2027 has already been secured based on ongoing contracts, volumes and production assets).
Maarten Michielssens, CEO:
“While most energy suppliers lost market share and margins as a result of the Iran crisis, EnergyVision has been able to fully leverage the strength of its business model. The local nature of our production assets means that they do not respond to market-price fluctuations resulting from geopolitical shocks. The result is predictable prices and long-term certainty for customers. This translated into many new customers and virtually no churn among existing customers.
It is important to emphasize that this growth has nothing to do with price increases or any temporary impact from the Iran crisis. It is structural: more and more customers are joining us, and are staying with us. We are not suddenly making more profit per kWh, because we have not raised our prices. In this respect too, we are deliberately going against the tide.
Growth was entirely organic and, as has always been the case to date, achieved with virtually no marketing investment. This summer, we acquired the customer portfolio of DATS 24, our first acquisition in energy supply. It is a path we will continue to pursue.
All customer contracts are hedged, so we take no risk in this area either: fixed gas contracts have been hedged on the market, while more than 75% of electricity comes from our own production assets and a limited portion from the lease of wind turbines.
As always, new contracts mainly contribute to EBITDA in the following year. We are therefore moderately raising our growth expectation for this year (underlying EBITDA for 2026 is expected to grow by 35%, rather than the previously reported 30%), while already seeing growth of at least 40% in 2027, which is largely secured based on the current customer and asset portfolio. In other words, the growth engine is accelerating further, while maintaining our high customer satisfaction score and strong cost and cash flow control.y
