Romande Energie Holding SA delivered a mixed QQ1 2025 performance characterized by a meaningful revenue decline versus the prior year, but with continued profitability strength at the operating level and a decisive sequential improvement in net income from Q4 2024. Reported revenue of CHF 192.9 million declined 8.5% year over year and 53.3% quarter over quarter, reflecting softer energy demand and regulatory dynamics in the Swiss market. Despite the top-line weakness, operating income reached CHF 51.68 million (operating margin 26.79%), underscoring a robust underlying cost structure and efficient asset base. However, total other income and expenses were negative by CHF 29.55 million, which weighed on pre-tax income to CHF 22.14 million and net income to CHF 19.38 million.
On a per-share basis, earnings per share (EPS) were CHF 0.76, with a diluted EPS of CHF 0.76. YoY, net income declined by 40.6% and EPS by 40.2% driven by lower revenue and the high concentration of one-off items in the prior year and current quarter’s non-operating expenses. QoQ, net income jumped by ~147% as the company moved from a loss in Q4 2024 to a positive bottom line in Q1 2025, highlighting the volatility around non-operating items and the quarterly cadence of Swiss utility earnings.
The quarter reaffirms Romande Energie’s exposure to a regulated earnings model with a high-quality asset base across hydro, solar, wind, and biomass, complemented by distribution and fibre networks. Management commentary (where available) emphasizes ongoing investments in renewables and grid modernization as it navigates the Swiss energy transition, but explicit forward targets for QQ2/Q2 2025 were not disclosed in the provided data. Investors should monitor capex intensity, regulatory tariff movements, hydrology-driven variability, and the evolution of non-operating items that influenced quarterly results.