Holaluz Clidom Sa · BME:HLZ
Holaluz Clidom Sa — Holaluz — FY2025 Earnings Presentation
28 slides from Holaluz Clidom Sa's earnings presentation, Mar 27, 2026
Slide 1: FY 2025 Results Presentation
FY 2025 Results Presentation March 27th, 2026
Slide 2: Forward looking statements
Forward looking statements This communication contains forward-looking statements related to Holaluz (the “Company”) These data do not represent estimates within the meaning of Commission Delegated Regulation (Eu) No. 2019/979 or No. 2019/980. Such forward-looking statements include, but are not lim
Slide 3: Agenda
Agenda About Us FY 2025 Review Summary 3
Slide 4: Our commitment to fully decarbonise the world
Our commitment to fully decarbonise the world We are building the largest and most impactful green energy community in Europe, unleashing the full potential of electrifying energy demand by scaling distributed Solar and Storage 4
Slide 5: The old model is hitting its limits
The old model is hitting its limits Spain’s centralised energy grid was not built for scaling renewable energy and rising demand 83% ~90% of Spain's electricity distribution of new grid access request nodes already at or above capacity denied in 2025 AELEC / CNMC (2024) AELEC / CNMC (2025) 21% €20B+
Slide 6: Demand keeps accelerating
Demand keeps accelerating EVs, heat pumps, AI data centers: everything runs on electricity. Spain's grid cannot meet that demand in a centralised way 318 TWh Spain’s projected electricity demand by 2030, up from 245 TWh today PNIEC / MITECO (2024) 30% + projected growth in peninsular demand in under
Slide 7: A technology platform, not a retail model
A technology platform, not a retail model Holaluz connects green energy with consumers, managing the energy and data flows in between Energy Management Recurring Revenue unit that manages both energy supply and ongoing maintenance services. Supply is sourced from at-scale green generators (RtM) and
Slide 8: The engine behind the model
The engine behind the model Energy flows matched to the nearest available source automatically, in real time. ENERGY SOURCES TECHNOLOGY PLATFORM ENERGY COMMUNITY Large-scale producers VPP Platform Residential consumers Wind farms, utility-scale solar, and certified The brain of the ecosystem Househo
Slide 9: The platform we’ve built
The platform we’ve built 15 years of proprietary IP, production-grade AI, and a cloud-native platform that is already operating, not a roadmap. Algorithm Hub Holaluz's proprietary intelligence layer Cloud-native from day one Active aggregator capabilities Built entirely on AWS, not a legacy system A
Slide 10: Tarifa Justa: Europe’s only energy subscription
Tarifa Justa: Europe’s only energy subscription One flat monthly fee. No spot market exposure. No surprises. Electricity reimagined as a subscription service. How it works What makes it work 1 Smart meter reads the customer’s usage Propietary AI Forecasting Over 95% of Holaluz customers have smart m
Slide 11: Battery Leadership Positions Holaluz to Capture Distributed Storage Opportunity
Battery Leadership Positions Holaluz to Capture Distributed Storage Opportunity Record battery penetration 95% battery attach rate in Dec 2025, significantly above the Spanish market average. European leader in solar with storage. First-mover in distributed storage Installed battery base provides a
Slide 12: Regulation is moving our way
Regulation is moving our way Years of proprietary technology and operational expertise now converge with regulatory evolution, transforming Holaluz’s capabilities into more valuable assets. 2km → 5km radius — up from 2km 70%→85% consumer reach within installation radius Addressable market expands di
Slide 13: The flywheel is already spinning
The flywheel is already spinning The largest and most impactful green energy community in Europe. And growing. 221,650+ Total energy contracts 13,600+ Total solar contracts 95% Battery attachment 3.1M+ Tons of CO2e saved* 13 *2010 to 2025 (1 MWh equals 0.25 t CO2)
Slide 14: From your rooftop to a decarbonised planet
From your rooftop to a decarbonised planet The Rooftop Revolution has no ceiling. 1 2 3 Distributed Solar Virtual Power Boosting & Storage Plant at scale Green Hydrogen We maximise every rooftop: more Our VPP aggregates thousands of When solar and storage reach scale, panels than the household needs
Slide 15: Agenda
Agenda About Us FY 2025 Review Summary 15
Slide 16: FY 2025 Financial Review
FY 2025 Financial Review A second half that delivers: profitability restored, balance sheet reinforced 22M€ Financial strengthening Balance sheet reinforced: 22M€ 30% Record operational efficiency Record in operational efficiency: capital increase fully capital increase fully executed + YoY reductio
Slide 17: Consolidated P&L
Key Points Consolidated P&L Revenue: H1 constrained by deliberate H2 2025 marks the turning point: gross profit +49%, Norm. • cash-preservation starategy ahead of EBITDA + 321% (vs H1) Restructuring Plan implementation. H2 2025: Commercial activity normalised in as of September with the Plan in forc
Slide 18: Solar Break-Even reached in Q4’25, EM Gross Profit generation on track since July 2025
Solar Break-Even reached in Q4’25, EM Gross Profit generation on track since July 2025. H1 2025 impacted by Delayed Court Homologation of Restructuring Normalised EBITDA per segment, M€ H1'25 EM impacted by delays in judicial homologation and subsequent disbursement of convertible loan. Margins reco
Slide 19: Energy Management P&L
Key Points Energy Management P&L • Revenue: Portfolio reduction as client acquisition strategy could not be fully Gross profit generation recovered in H2: commercial engine executed due to cash protection in fully restored. H1’25. Client acquisition policy gradually recovered along H2’25. • Portfoli
Slide 20: Solar & Storage P&L
Key Points In a sector when 30+ European solar Solar & Storage P&L installers filed for insolvency, in H1 2025 and Spanish residential installations fell 14% YoY, Holaluz executed a strutural EBITDA break-even reached in Q4; 95% battery attachment transformation: losses reduced 95% vs H1 2023 (Norm.
Slide 21: FY 2025 Consolidated Balance Sheet (1/2)
Total Assets: 72.4 M€ Non-current assets: 47.0 M€ • 8.1 M€ reduction in Intangible Assets FY 2025 Consolidated Balance Sheet (1/2) (technology investment more efficient thanks to AI and automation, €M innovation pace maintained, CAPEX halved (2.5 M€ vs 7.5 in 2024) 31.12.25 31.12.24 • Long-term fina
Slide 22: Consolidated Balance Sheet (2/2)
Net equity: -18.7 M€ • Own funds: -17.5 M€ consolidated (reflecting solar subsidiary accumulated losses). Parent Consolidated Balance Sheet (2/2) company Holalu-Clidom SA standalone equity + 37.3 M€ - the €M operating entity is financially healthy. Icosium’s 22M€ investment reinforces the capital 31
Slide 23: Net Debt Position
Net Debt Position €M Net Debt: 44.7M€ • 100% Restructured, fully manageable, cash-flow supported and Debt profit transformed 31.12.25 31.12.24 Cash at banks -0.7 -2.2 • ~ 70% ICO backed • Maturities extended to 2028, structured for full repayment Long-term liabilities with 33.2 20.0 without haircuts
Slide 24: Impact, measured and verified
Impact, measured and verified 3.1M t 172,653 t SBTi CO₂e avoided since inception CO₂e avoided in 2025 alone Science Based Targets validated 15 years of verified climate action Progress accelerating year on year Two horizons. One verified roadmap. Cumulative CO₂e avoided since 2010, 2025 avoided emis
Slide 25: With people and governance at the core
With people and governance at the core A team built on diversity, purpose, and accountability. ESG criteria are part of how we govern, manage risk, and allocate capital. SOCIAL GOVERNANCE 36.5% 4.1/5 76% ESG-integrated governance ESG criteria are part of how Holaluz governs, manages risk, and women
Slide 26: Agenda
Agenda About Us FY 2025 Review Summary 26
Slide 27: FY 2025 Summary
FY 2025 Summary • Financial foundation rebuilt: 22M€ capital increase fully executed (Icosium at majority stake) + Debt Restructuring Plan in force since July (100% debt covered, no haircuts, extended to 2028, ~70% ICO-backed). Covenants waived through 2026 by creditor consensus, Plan fully intact.
Slide 28: investors@holaluz.com
investors@holaluz.com