Solaria Energia Y Medio Ambiente, S.a. · BME:SLR
Solaria Energia Y Medio Ambiente — H1 2026 Earnings Presentation
20 slides from Solaria Energia Y Medio Ambiente's earnings presentation, Sep 24, 2026
Slide 1: Record H1, H2 Acceleration: H1 2026 Results Presentation
Record H1 H2 Acceleration H1 2026 RESULTS PRESENTATION September 24, 2026
Slide 2: Key Highlights
KEY HIGHLIGHTS Record New 12-month H2 H1 Efficiency Acceleration Programme Very strong set of results Cost efficiency Higher prices set to drive Production 1.7 TWh (+51%) 13% personnel cost reduction significant earnings growth €100m Infrastructure sales in six Best-in-class cost efficiency Q3 price
Slide 3: Q3 merchant captured prices rise more than 75%, generation up more than 30%
KEY HIGHLIGHTS Q3 merchant captured prices rise more than 75%, with generation up more than 30%. Solar price Generation Optimized +75% +30% merchant YoY YoY 35% vs. 25% THE JOURNEY IS JUST BEGINNING 3 H1 2026 Results Presentation
Slide 4: Strong Growth Across Operations
H1 26 – RECORD H1 Strong Growth Across Operations Production +51% H1 Production increased by 51% to 1,717 GWh mainly due to the commissioning of new assets Q2 2026 Q2 2025 % chg. H1 2026 H1 2025 % chg. (Capacity +85% from 1.7 GW to 3.1 GW). Production (GWh) 1,165 767 +52% 1,717 1,139 +51% Sales (EUR
Slide 5: Well on track to deliver the full-year EBITDA target
H1 26 – RECORD H1 Well on track to deliver the full-year Strong Total Revenues EBITDA target Total revenues reached EUR 223.3m, Q2 2026 Q2 2025 % chg. H1 2026 H1 2025 % chg. up 44% YoY, despite a lower contribution Total Revenues (EUR M) 102.9 74.1 +39% 223.3 155.1 +44% from other income, down from
Slide 6: Improved financial strength despite significant investment
H1 26 – RECORD H1 Improved financial strength despite significant investment YTD Cash performance OPERATING CF INVESTING CF FINANCING CF (EUR M) 124.1 (275.8) 287.7 460.2 210.1 (83.0) (20.6) 209.4 EUR 276 M (65.4) (89.5) INVESTMENT 73.3 (275.8) Net Issue of Cash Net finance Working Debt issue & Debt
Slide 7: CMD Execution scorecard (Nov-25 Sept-26)
H1 26 – RECORD H1 CMD Execution scorecard (Nov-25 Sept-26) 2025 CMD commitment Execution to date – H1 2026 Status Key takeaway Beat €250m FY2025 EBITDA target FY2025 EBITDA €266.1m, +6% vs. target Exceeded FY2025 EBITDA target exceeded Strong progress towards FY26 target. Very Deliver €331m EBITDA i
Slide 8: Cost & Capital efficiency – EUR 7 M annualised savings
H1 26 – NEW 12-MONTH EFFICIENCY PROGRAMME Cost & Capital efficiency – EUR 7 M annualised savings 50% of 12-month EUR 7 M New Efficiency annualised savings -26% annualised duration savings programme already Net Debt/EBITDA executed Clear roadmap to enhance profitability, cash generation and capital d
Slide 9: Cost efficiency – 13% personnel cost reduction
H1 26 – NEW 12-MONTH EFFICIENCY PROGRAMME Cost efficiency – 13% personnel cost reduction Best-in-class Cost efficiency A leading cost structure among peers 9 H1 2026 Results Presentation
Slide 10: Capital efficiency – EUR 4 M financial cost savings
H1 26 – NEW 12-MONTH EFFICIENCY PROGRAMME Capital efficiency – EUR 4 M financial cost savings Stronger Balance sheet Disciplined capital allocation driving deleveraging and savings 10 H1 2026 Results Presentation
Slide 11: Higher Prices Set to Drive Significant Earnings Growth
H1 26 – H2 ACCELERATION Higher Prices Set to Drive Significant Earnings Growth Solaria Merchant Captured Prices and OMIP Solar Forwards Strong increase in merchant prices 100 84 Merchant captured prices are showing a strong upward 80 76 trajectory, with current OMIP forwards pointing to a >60 signif
Slide 12: 3.6 GW in operation by year end
H1 26 – H2 ACCELERATION 3.6 GW in operation by year end Portfolio status (GW) Solar PV + DC 3.6 1,200 MWh Oliva solar plant supports our 70 0.2 BESS 3.1 0.3 MW data centre project in BESS OLIVA 175 MW Daganzo, Madrid, reinforcing our HYBRID BESS integrated energy infrastructure SPAIN platform SOLAR
Slide 13: Record H1 Performance Provides Strong Visibility on 2026 EBITDA Target
OUTLOOK Record H1 Performance Provides Strong Visibility on 2026 EBITDA Target 13 H1 2026 Results Presentation
Slide 14: Substantial Growth Ahead: Capital Markets Day
OUTLOOK Substantial Growth Ahead Capital Markets Day Breaking Borders Scaling Faster November 2026 14 H1 2026 Results Presentation
Slide 15: Appendix
Appendix 15 H1 2026 Results Presentation
Slide 16: Operating data
H1 2026 RESULTS Operating data H1 2026 H1 2025 % chg. H1 2026 H1 2025 % chg. Capacity (MW) 3,063 1,658 85% Energy Sales (EUR M) 67.6 57.2 18% Spain 2,959 1,554 90% Spain 60.5 49.4 22% Portugal and Greece 64 64 - Portugal and Greece 1.0 1.2 -17% Uruguay 23 23 - Uruguay 2.0 2.0 - Italy 17 17 - Italy 4
Slide 17: Income Statement
H1 2026 RESULTS Income Statement Relative (EUR M) H1 2026 H1 2025 change (%) Net sales 167.2 79.1 111 Other income 56.1 76.0 -26 Total revenues 223.3 155.1 44 Personnel expenses (8.0) (8.6) -8 Operating expenses (5.2) (6.4) -19 EBITDA 210.1 140.1 50 Amortisation (30.1) (23.8) 26 EBIT 180.0 116.3 55
Slide 18: Balance Sheet
H1 2026 RESULTS Relative Equity and liabilities (EUR M) Balance Sheet Equity H1 2026 1,087.6 FY 2025 change (%) 709.4 53 Relative Assets (EUR M) H1 2026 FY 2025 change (%) Capital and share premium Reserves 495.4 439.4 310.9 260.6 59 69 Non-current assets 2,433.8 2,239.4 9 Non-controlling interest 5
Slide 19: Disclaimer
DISCLAIMER This document has been prepared by SOLARIA ENERGÍA Y MEDIO AMBIENTE, forward-looking statements can be identified from the context in which they are Regulation Pipeline S.A. (“Solaria”) for information purposes only and it does not constitute regulated made. These forward-looking statemen
Slide 20: Thank you
Thank you
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