Photon Energy Nv · GPW:PEN
Photon Energy Nv — Q1 2026 Earnings Presentation
20 slides from Photon Energy Nv's earnings presentation, Jun 1, 2026
Slide 1: Q1 2026 Results Conference
Q1 2026 Results Conference Georg Hotar, CEO Stanislav Zeman, CFO Photon Energy N.V. 1 June 2026
Slide 2: Disclaimer
Q1 2026 Results Conference Disclaimer This presentation is for information purposes only and may not be copied in whole or in part for any purpose, or forwarded to third parties or published. This presentation includes written material or slides for a presentation on Photon Energy N.V. (“the Company
Slide 3: Agenda: Business Results, Financial Results, Group Restructuring, Q&As
Business Results Financial Results Group Restructuring Q&As Lord Howe Island, Australia (1.3 MWp / 3.7 MWh)
Slide 4: Business Results
Business Results Financial Results Group Restructuring Q&As Slavkov, Czech Republic (1.2 MWp)
Slide 5: Segment: Investments / Electricity Generation
Q1 2026 Results Conference Segment: Investments / Electricity Generation ► No additions to IPP portfolio over the last 12 month. The strategy ► Licensing updates: Aiud, Teius (9.5 MWp) received license on 17 February – fully assumes keeping the most highly profitable assets and divest the operationa
Slide 6: Segment: Investments / Revenues
Q1 2026 Results Conference Segment: Investments / Revenues ► Revenues from electricity generation totalled EUR 3.691 million ► As a result, average realised prices in Q1 2026 amounted to EUR (-11.7% YoY), reflecting lower generation volumes (-6.7% YoY) and 177/MWh, down from EUR 185/MWh in Q1 2025 (
Slide 7: Segment: Technology Trading
Q1 2026 Results Conference Segment: Technology Trading PV Technology Volumes (MW) External Revenues (EUR 000s) External EBITDA (EUR 000s) 9,000 500 8,000 7,638 Inverters, MW 400 7,000 6,554 6,000 300 239 5,000 Modules, MW 200 4,000 3,000 100 2,000 Batteries, MWh 0 1,000 -10 0 -100 0.0 10.0 20.0 30.0
Slide 8: Segment: O&M
Q1 2026 Results Conference Segment: O&M Contracted Capacity (MWp) Total Revenues (EUR 000s) External EBITDA (EUR 000s) 1,400 2,000 0 +9.2% 1,200 1,500 -78 1,000 616 604 800 1,000 -200 600 400 500 1,106 1,128 -273 200 0 0 -400 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 O&M Cardio Assets under Ma
Slide 9: Segment: New Energy – Under Restructuring
Q1 2026 Results Conference Segment: New Energy – Under Restructuring DSR/Contracted Capacity (MW) O&T Trading Volumes (MWh) External Revenues (EUR 000s) External EBITDA (EUR 000s) 400 50,000 9,000 8,273 3,000 39,047 8,000 2,482 40,000 +23% -46% 2,500 300 7,000 -63% 31,847 6,000 2,000 30,000 4,453 20
Slide 10: Segment: Engineering – Under Restructuring
Q1 2026 Results Conference Segment: Engineering – Under Restructuring External Revenues (EUR 000s) Consolidated EBITDA (EUR 000s) 4,000 1,000 500 0 1,949 2,000 -500 -403 -1,000 87 -1,196 0 -1,500 Q1 2025 Q1 2026 Q1 2025 Q1 2026 ► External revenues of EUR 0.087 million in Q1 2026 compared to EUR ► Ex
Slide 11: Business Highlights in Q1 2026
Business Highlights in Q1 2026 ► Cost discipline with significant savings: ─ Personnel costs of EUR 3.125 million, down by nearly EUR 1.3 million (-29% YoY), as a result of lower headcount which went down from 326 full-time equivalent in Q1 2025 to 223 at 31.03.2026 (-31.5% YoY). ─ Other operating e
Slide 12: Financial Results
Business Results Financial Results Group Restructuring Q&As Siria, Romania (5.7 MWp)
Slide 13: Financial Results
Q1 2026 Results Conference Financial Results In thousand EUR Q1 2026 Q1 2025 YoY change Total revenues 17,077 22,049 -22.5% of which from electricity generation 3,691 4,178 -11.7% other revenues 13,386 17,871 -25.1% EBITDA 215 1,206 -82.2% EBIT -1,935 -783 na Net profit/Net loss -4,586 -3,705 na Tot
Slide 14: Balance Sheet
Q1 2026 Results Conference Balance Sheet Assets 300,000 EUR Total assets EUR 271.9 M -2.8% 264.3 M 275,000 10.6 M 8.1 M ► Fixed assets amounted to EUR 220.821 million compared to EUR 224.825 250,000 36.6 M Current assets 35.3 M 225,000 -7.7% million at the end of 2025. The decline of EUR 4.004 milli
Slide 15: Cash Flow
Q1 2026 Results Conference Cash Flow In thousand EUR Q1 2026 Q1 2025 ► Operating cash flow of EUR 1.410 million was supported by a positive change of FX translation differences and other non-cash items. Operating cash flow 1,410 3,860 ► Investment cash flow of EUR -0.603 million and was related to t
Slide 16: Group Restructuring
Business Results Financial Results Group Restructuring Q&As Aiud, Romania (4.7 MWp)
Slide 17: Business Under Restructuring
Q1 2026 Results Conference Business Under Restructuring Engineering in Australia Capacity Market and O&T in Poland On 20 February the Group decided to restructure its EPC and O&M On 30 March 2026, Photon Energy Trading PL sp. z o.o., (“the Subsidiary”) 100% owned by services in Australia and three e
Slide 18: GREEN EUR Bond 2021/27 Restructuring
Q1 2026 Results Conference GREEN EUR Bond 2021/27 Restructuring Bond GREEN EUR Bond 2021/2027 Due to the liquidity constraints in Q1 2026 the Company postponed Volume outstanding EUR 78.8 million the payment of the quarterly coupons on the Photon Energy N.V. Green Bond 6.5% 2021/2027 due on 23 Febru
Slide 19: Q&A
_™ Photon Energy Group Q&A
Slide 20: Thank you for joining us today!
Thank you for joining us today!