# REN Profits Surge 34% Ahead of State Stake Increase Portuguese energy network operator reports strong earnings growth driven by operational and tax improvements. - **Source:** [ECO](https://eco.sapo.pt) - **Published:** 2026-11-12 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/d9012d0b-05c6-4e47-a9a2-8b844c90e9bf ## Significant Profit Growth REN, the Portuguese energy network operator, reported profits of 139.3 million euros for the first nine months of the year. This figure represents a substantial 34.1% increase compared to the same period in the previous year. The company disclosed these financial results in an official statement sent to the CMVM market regulator. ## Operational Performance Metrics The company's EBITDA, which measures earnings before interest, taxes, depreciation, and amortization, reached 422.9 million euros. This reflects a solid 10.2% growth compared to the prior year's performance. These operational gains serve as a primary driver for the overall positive financial trajectory observed by the energy infrastructure firm throughout this period. ## Impact of Tax Changes A key factor in the profit surge was the elimination of the CESE tax specifically within the gas business segment. This regulatory change provided a significant fiscal benefit to the company's bottom line. Such tax adjustments are critical components in the firm's ability to maintain profitability despite complex market conditions in Portugal. ## Legal Wins Boost Earnings Beyond operational improvements, REN benefited from favorable judicial decisions regarding previous fiscal years. The recognition of these gains contributed directly to the positive evolution of results reported up to September. These legal outcomes highlight the importance of regulatory and judicial environments in shaping the financial health of major utility companies. ## Strategic Context of Results These strong financial results arrive at a pivotal moment as the Portuguese state prepares to reinforce its position within the company. The timing of this profit growth is notable given the upcoming changes in ownership structure. Investors and stakeholders are closely monitoring how these earnings influence the valuation of the state's stake. ## Regulatory Environment Dynamics The energy sector in Portugal remains highly sensitive to legislative shifts and tax policies. The removal of specific levies like the CESE demonstrates how government policy directly impacts corporate balance sheets. REN's ability to navigate these regulatory changes has been essential for sustaining its growth trajectory during the current fiscal year. ## Market Position and Outlook As a critical infrastructure provider, REN occupies a central role in the national energy landscape. The reported growth underscores the company's resilience in managing both its gas and electricity network operations. Market analysts will likely evaluate these nine-month results to forecast the company's performance for the remainder of the fiscal year. ## Implications for Stakeholders The 34% profit increase provides a strong foundation for the company as it enters a new phase of state involvement. By successfully leveraging operational efficiencies and legal victories, REN has demonstrated significant financial stability. Future developments will depend on how the company maintains this momentum amidst evolving national energy infrastructure requirements. ## Sources covering this story - https://eco.sapo.pt/2026/11/12/lucros-da-ren-disparam-34-antes-do-reforco-da-posicao-do-estado/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._