Spain · Delayed Price · Currency is EUR Grenergy Renovables Earnings Call Transcripts
Fiscal Year 2025
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Record 2025 results with revenue up 66% and EBITDA up 26%, driven by hybrid solar-storage growth, asset rotation, and strong project financing. Major expansion in Chile and Spain, robust pipeline, and enhanced ESG performance position the company for continued acceleration.
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Revenue surged 147% to €687M and EBITDA doubled to €111M, driven by M&A and strong asset rotation. BESS and hybrid plant pipeline expanded, with major projects in Chile and Europe advancing ahead of schedule. CapEx is set to exceed €1B for the year, supporting growth targets.
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H1 2025 saw 128% revenue growth and 176% EBITDA increase, driven by asset rotation and M&A, with €421 million CapEx and strong progress in Chilean and European BES projects. Asset rotation targets are ahead of schedule, leverage ratios improved, and ESG ratings strengthened.
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The company is accelerating its transition to battery storage, now allocating two-thirds of CapEx to BESS and quadrupling its storage target for 2027. Financial guidance remains robust with a self-funded plan, increased asset rotation, and a focus on hybrid and standalone storage platforms in key global markets.
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Q1 2025 saw record financial results, with revenue up 116% and EBITDA up 165% year-over-year, driven by strong asset rotation, project execution, and new PPAs. Over $1 billion in financing was secured, and sustainability initiatives advanced, including new ESG disclosures.
Fiscal Year 2024
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Strong revenue, EBITDA, and net income growth were driven by asset rotation and M&A, with net debt sharply reduced and CapEx surging. The Oasis de Atacama project advanced with major financings and sales, while sustainability and ESG leadership were further consolidated.
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Revenue declined 21% year-over-year to EUR 278 million, with EBITDA down to EUR 53 million due to fewer asset disposals, while CapEx surged over 60% to EUR 419 million. The company is advancing major hybrid and storage projects, expects exponential EBITDA growth in 2025, and maintains strong ESG leadership.
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First half 2024 saw strong EBITDA growth from asset rotation and a major Chilean acquisition, despite lower reported revenue due to inventory accounting. CapEx remains stable with significant cost deflation, and leverage is expected to improve as further asset sales and project financings close.