Enerjisa Enerji has announced its financial results for the first quarter of 2026. The Company, which has distributed dividends every year since its IPO, continues to be closely followed by both domestic and international investors.
As in previous years, the Company maintained its investment-focused approach to sustainable growth. In the first quarter, during which CEO Murat Pınar reiterated that the 2026 investment targets are maintained, the Regulated Asset Base (RAB) exceeded TL 100 billion, continuing its growth
Enerjisa Enerji, leading Türkiye’s energy transformation with its vision of “A Better Future for All,” operates not only as a leader in electricity distribution and retail, but also in the fields of customer solutions and e-mobility. The Company invested TL 23.5 billion in energy infrastructure last year to support the development of a sustainable and resilient system. Having achieved its targets, Enerjisa Enerji completed a gross dividend payment of TL 5.08 per share on April 15.
Despite rapidly evolving geopolitical developments and ongoing economic uncertainties globally, Enerjisa Enerji continues to maintain its investment commitment in 2026. These investments, which also contribute to Türkiye’s security of energy supply, remain focused on grid modernization and digitalization.
One of the highlights of the first quarter results was the Company’s operating earnings. In the first quarter of the year, operating earnings reached TL 17.9 billion, marking a real increase of 5% compared to the same period last year. This performance was mainly driven by the electricity distribution business, while the Regulated Asset Base (RAB) increased by 42% year-on-year to approximately TL 105 billion.
Balance and efficiency remained a priority across all business lines
In the Retail business line, despite challenging market conditions, the customer portfolio expanded Supported by an increase in liberalized sales volumes and improvements in portfolio margins, the Retail business achieved a balanced performance in the quarter. Enerjisa’s leading customer experience and digital solutions approach, which differentiates the Company in the retail market where it maintains its leadership, continues to play a key role in portfolio expansion.
In the Customer Solutions business line, where renewable energy applications and energy efficiency solutions are offered to corporate customers, installed solar capacity reached 146 MWp. The Company, which also operates in the e-mobility space, increased charging volumes under its Eşarj brand with a continued focus on operational efficiency.
MURAT PINAR: "WE WILL WORK TOWARDS DELIVERING OUR INVESTMENT TARGET OF TL 30-35 BILLION"
Emphasizing that ensuring a reliable and independent energy supply in Türkiye is the responsibility of all players in the sector, Enerjisa Enerji CEO Murat Pınar said: “The energy sector today is undergoing a multidimensional transformation shaped not only by supply-demand dynamics, but also by geopolitical developments, financing conditions and the accelerating energy transition. It is a highly competitive and equally uncertain environment. Despite this, maintaining our financial resilience while continuing to grow through investments remains at the core of our long-term strategy. We have a strong and disciplined business model. As a sector leader, we also share our expertise and the practices we pioneer with the public. As Enerjisa Enerji, we will continue to deliver the highest quality service to our more than 22 million users in line with our vision of ‘A Better Future for All.’ We will continue to take responsibility, placing as much importance on social investments as we do on infrastructure investments and financial performance. Having successfully completed the fourth tariff period and entered the fifth, we are moving forward with the same determination. Our infrastructure investments will continue in 2026. We will work towards delivering our total investment target of TL 30–35 billion.”
PHILLIPP ULBRICH: "WE AIM TO SUPPORT OUR INVESTMENT PROGRAM WITH A STRONG FINANCING STRUCTURE AND SUSTAIN OUR LONG-TERM GROWTH"
Highlighting that the Company operated in a challenging environment in the first quarter of 2026, marked by ongoing global uncertainties and high interest rates, Enerjisa Enerji CFO Philipp Ulbrich said: “In such a context, ensuring financial performance requires highshort term steering and a focus on resilience. Nevertheless, we are keeping our 2026 targets unchanged as communicated at the beginning of the year and continue to progress in line with our four key performance indicators. The predictability of our business model, our strong balance sheet and high financial discipline enable us to deliver a remarkable performance in this challenging environment. At the same time, we believe that continuously reflecting the increase in operational and investment costs in a balanced manner within the relevant tariff frameworks as it has been done by the regulator in the beginning of April is important for the sustainability of the sector. We maintain our strong financial discipline. While keeping our Net Financial Debt / Operational Earnings ratio at 1.1x, we continued to ensure the necessary diversification and competitive pricing in our debt portfolio.”