revenue growth
—
FY 2026
official guidance
ENERGYVISION NV
Last · —€18.22+0.90 (+5.20%)live · yahoo · 0s ago
Market cap€1.1B60.7M sh
P/E · TTM56.9fwd — · eps 0.32
Beta—vs S&P 500
Div yield0.00%annual · TTM
52w range
€9.164€18.22
Volume40.4Ksession
Loading chart…
OpenFilings analyst
Our analyst
Agentic read of the latest earnings call — recommendation updates when we process a new transcript. Research synthesis, not investment advice.
Strong BuyBuyHoldSellStrong Sell
Strong demand momentum is offset by unquantified profitability and capital intensity.
Hold: Q1 revenue rose 60% to €41.8m, with 39,000 new connection points from April and 2026 growth guidance of at least 30%.
The customer influx and 190% asset-based energy growth are encouraging, but the call provided no earnings or cash-flow figures while committing €70m to expansion, leaving valuation and execution risk unresolved.
Themes
- Customer Growth
- Asset Based Energy
- Wind Solar Mix
- Charging Infrastructure
- Capital Expenditure
- Energy Supply Capacity
Near term
The 39,000 connection points beginning to contribute in April, plus 15,000 more in Wallonia from June, are the key near-term revenue catalyst.
The company can still add more than 50,000 customers on current production assets, but may need to acquire assets or stop intake if capacity tightens.
Q2 will test whether customer additions translate into profitable growth rather than just higher low-margin energy volumes.
Longer term
The asset-based model is scaling across solar, wind, batteries and charging, with 2,700-plus NMBS charging points planned over the next three quarters and meaningful revenue expected from March or April 2027.
Wind diversifies seasonal production but carries higher maintenance costs and lower EBITDA margins than solar; the portfolio was 65% solar and 35% wind at quarter-end.
Hydropower is an option rather than an investable near-term driver: pilot installations are targeted by year-end, with broader expansion dependent on a Belgian policy framework.
Red flags
Management did not disclose Q1 EBITDA, net income, cash flow, leverage or return on the €70m 2026 investment programme.
The 60% top-line growth is partly driven by a sharp customer acquisition surge, while revenue per non-asset-based customer more than halved year-on-year; the call did not quantify unit economics or churn.
Charging growth relies on organic discovery without marketing, creating a slow uptake risk for the NMBS rollout and pushing substantial revenue contribution into 2027.
Energy supply capacity and fixed-price exposure are managed conditionally by acquiring assets or stopping customer inflow, which could constrain growth or expose the company to procurement risk.
Forward outlook
Recommendation history
OpenFilings analyst view from primary-source filings and earnings calls — not investment advice.
Earnings transcripts
Documents
FormReporting forFiledFlags