• Total investments of €178.6 million over the first nine months of 2026, with record technical investments rising to €171.3 million, significantly up on the €100.7 million recorded in the first nine months of 2025.

· An increase of 53,000 customers, with a constantly expanding presence across the country and growth driven by fixed-price tariffs, developed as a concrete response to the volatility and uncertainty in the energy markets.

· Consolidated EBITDA of €360.4 million and profit for the year of €190.2 million, during a period affected by a reduction in hydroelectric production.

· Net financial debt down to €560 million (€601 million as at 31 December 2025).

· Ongoing commitment to the energy transition, flexibility, workforce growth and caring for people: Energy Release, energy efficiency and energy management partnerships, recruitment and Top Employer certification.

The Consolidated Financial Statements as at 30 September 2026 confirm Dolomiti Energia’s ability to continue along its path of industrial growth, even in a difficult year marked by considerable volatility in the energy markets, geopolitical tensions and unfavourable hydrological conditions.

Rovereto, 12 November 2026 – The Board of Directors of Dolomiti Energia, chaired by Silvia Arlanch, has taken note of the results as at 30 September 2026. The first nine months have confirmed the solidity of the Group’s trajectory and the ambitions of the 2030 Plan, despite a decline in economic and financial results within a complex context. The increase in customers and the significant level of investment demonstrate the continued industrial growth and the resilience of the Group’s integrated model, based on the diversification of activities, the development of renewable sources and the strengthening of strategic infrastructure.

“The results for the first nine months have been penalised by a challenging environment, characterised by volatility in prices and a significant reduction in hydroelectric production. Despite this difficult context, we are continuing on our path of industrial growth,” said Stefano Granella, CEO of Dolomiti Energia. "Acquisitions and investments in renewables, networks and local services are continuing, building on an integrated model that supports medium- to long-term growth and enables us to make a tangible contribution to the energy transition. We remain committed to this course, with financial discipline and a focus on the value generated for our customers, local communities and stakeholders.”

Key results down as at 30 September 2026

Consolidated EBITDA stood at €360.4 million, compared with €395.8 million recorded during the same period of 2025. Consolidated net profit amounted to €190.2 million, compared with €225.6 million in the first nine months of 2025.
These figures were affected primarily by lower hydroelectric production, which fell by 30% due to reduced water availability.
Overall, the results for the period were balanced by the ability of the Group’s integrated and diversified business model to compensate for exposure to fluctuating trends in individual production sources and to ensure greater stability in overall profitability.

Acquisitions and investments continue

Total investments stood at €178.6 million, with technical investments rising to €171.3 million, a marked increase on the €100.7 million recorded in the first nine months of 2025. Technical investments were primarily directed towards energy production from renewable sources, in particular the construction and repowering of the wind farms at Greci (27 MWp), San Marco 2 (24.5 MWp) and San Paolo Civitate (45.5 MWp), as well as nine photovoltaic plants with a combined capacity of 43.3 MWp. With respect to photovoltaic production, the Group has acquired an authorised project of approximately 20 MWp in Emilia-Romagna and two plants in the Marche and Calabria regions with a combined capacity of 3.76 MWp. As regards wind power, the completion of the repowering at Greci and San Marco is expected to see the start of operations by the end of the year, whilst the San Paolo Civitate construction site is at an advanced stage.

A further increase in investment is expected in the final quarter, thanks in part to the acquisition of an operational wind farm in Sicily, with an installed capacity of 48 MWp, and the agreement signed for the acquisition of 91.6% of Retragas, with the aim of strengthening its presence and maximising industrial synergies with Gasdotti Alpini, thus accelerating the development of networks in western Trentino.
With regard to the tender for gas distribution in the Trento ATEM, the TRGA has rejected Italgas’s appeal, confirming the award of the concession for the distribution of natural gas within the province to the Group. In the water sector, the PNRR project for the Rovereto network has been completed, alongside the division of over 90% of the network into sub-districts.

Customer growth continues and national presence is expanding

The customer base continues to grow: +53,000 in the first nine months, with an ever-wider presence across the country. This growth is also supported by long-term contracts, which represent a concrete response to the high level of volatility and uncertainty in the energy markets.
To anticipate the challenges of an increasingly competitive energy market, Dolomiti Energia has expanded its offering with innovative solutions and additional services. The Group aims to integrate production, energy management and sales to customers even further, in order to increase the number of customers and preserve the profitability of the entire supply chain.
Commercial growth is accompanied by a focus on the quality of customer relationships. This is what has continued to distinguish Dolomiti Energia in 2026 as one of the providers recommended by Altroconsumo.

Energy transition and energy management

The Energy Release 2.0 scheme has also entered its operational phase. Under this initiative, the Group has aggregated around 300 energy-intensive businesses, with a total annual consumption of approximately 4 TWh. The initiative reinforces Dolomiti Energia’s role as an enabler of the energy transition within the industrial sector, through supporting the competitiveness of energy-intensive businesses whilst simultaneously promoting the development of new generation capacity from renewable sources.
A battery storage system has come into operation in Puglia, with a capacity of 25 MW and storage capacity of 75 MWh, within the framework of the seven-year tolling agreement with METLEN. Under this agreement, the Group will be able to use the plant to trade on wholesale energy markets and provide services to the electricity grid, thus strengthening its role in ensuring the flexibility of the electricity system and in the integration of renewable sources.
The Group has also entered into a partnership with Primo Climate by investing in a fund dedicated to energy transition technologies.
These initiatives confirm the evolution of the Group’s role, now increasingly focused on integrating renewable production, storage, electric mobility and smart energy management.

Financial strength confirmed

The Group’s net financial debt stands at €560 million, down from €601 million as at 31 December 2025.

In terms of corporate governance, for the second year in a row, the Group won the Best Managed Companies Award from Deloitte Private.
The Board has also approved the structuring of an EMTN (Euro Medium-Term Notes) programme, which will enable the Group to raise funds through future bond issues.

New hires and caring for our people

The Group’s workforce now stands at 1,737 people, with 138 new hires during the first nine months, supporting the path of industrial growth and business development.
Dolomiti Energia has also been awarded the international Top Employer Italia 2026 certification, which recognises the quality of its welfare and wellbeing policies, as well as the practices adopted in the management, development and empowerment of its people.