REN operates Portugal’s mainland electricity transmission grid and the country’s high-pressure natural gas transmission network. As the national transmission system operator, it plans, builds and maintains critical energy infrastructure under regulated frameworks. Its role is to ensure security of supply and system reliability for generators, distributors and large consumers, with revenues largely driven by regulated tariffs rather than commodity trading.
| Quarter | Revenue | YoY % | Earnings | YoY % |
|---|---|---|---|---|
| Q2 2025 | 242.7 | — | 51.3 | — |
| Q3 2025 | 266.9 | — | 38.2 | — |
| Q4 2025 | 306 | — | 55.9 | — |
| Q1 2026 | 216.7 | — | 36.2 | — |
| Q2 2026 | 299.1 | 23.2% | 57.2 | 11.5% |
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