Swiss utility BKW AG said first-half earnings fell sharply as energy market volatility and geopolitical disruptions weighed on operations, sending shares down more than 1%.
The company posted H1 operating income of 2.18 billion Swiss francs, a 3.1% decline from the prior year, while EBITDA dropped 10.1% to 387.9 million francs. EBIT fell 15.1% to 263.7 million francs, though net profit rose 7.0% to 217.6 million francs, supported by gains from the decommissioning fund of the Mühleberg Nuclear Power Plant.
BKW attributed the weaker performance to low water levels, light winds, and market disruptions linked to Middle East tensions, which particularly affected its Energy Solutions segment. The Power Grid segment remained stable, while Infrastructure & Buildings posted positive growth. The company expects a rebound in the second half for its Infrastructure & Buildings and Energy Solutions divisions, with Power Grid remaining steady.
For full-year 2026, BKW confirmed its EBIT guidance at the lower end of its previously stated range of 650 million to 750 million francs. The shares slipped 2.00 francs, or 1.52%, to 129.50 francs in early trading.
