Photon Energy Nv · GPW:PEN
Photon Energy Nv — Q3 2025 Earnings Presentation
17 slides from Photon Energy Nv's earnings presentation, Nov 20, 2025
Slide 1: Q3 2025 Results Conference
Q3 2025 Results Conference Georg Hotar, CEO Stanislav Zeman, CFO Photon Energy N.V. 20 November 2025
Slide 2: Disclaimer
Q3 2025 Results Presentation 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 Compa
Slide 3: Business Results, Financial Results, Q&As
Business Results Financial Results Q&As Lord Howe Island, Australia (1.3 MWp / 3.7 MWh)
Slide 4: Business Results
Business Results Financial Results Q&As Slavkov, Czech Republic (1.2 MWp)
Slide 5: Investments / Electricity Generation
Q3 2025 Results Presentation Segment: Investments / Electricity Generation ► No additions to IPP portfolio in Q3 2025. Year-on-year changes ► Q4 updates: Sarulesti received license in October, Aiud and Teius are awaiting (-6.2 MWp) include: a) commissioning of 3.2 MWp in Romania and licenses by the
Slide 6: Investments / Revenues
Q3 2025 Results Presentation Segment: Investments / Revenues ► Realised prices on sale of electricity in Q3 decreased from EUR 173/MWh ► Total revenues from sales of electricity reached EUR 7.8 million in Q3 in Q3 2024 to EUR 164/MWh in Q3 2025, down by 5.1% YoY. The 2025 (-13.8% YoY) and EUR 20.1 m
Slide 7: Engineering
Q3 2025 Results Presentation Segment: Engineering External Revenues (EUR 000s) Consolidated EBITDA (EUR 000s) 5,000 4,546 2,000 926 4,000 1,000 -68.7% 3,000 0 2,000 -1,000 1,422 1,000 -2,000 -2,002 0 -3,000 Q3 2024 Q3 2025 Q3 2024 Q3 2025 ► External revenues of EUR 1.4 million in Q3 2025 (-68.7 YoY)
Slide 8: New Energy
Q3 2025 Results Presentation Segment: New Energy External Revenues (EUR 000s) DSR/Contracted Capacity (MW) Trading Volumes (MWh) External EBITDA (EUR 000s) 10,000 500 80,000 1,600 8,921 71,179 1,428 +37.7% 385 70,000 8,000 400 60,000 1,200 6,477 +119% 6,000 300 -67% 50,000 40,000 32,473 800 4,000 20
Slide 9: O&M
Q3 2025 Results Presentation Segment: O&M Contracted Capacity (MWp) Status of Contracts (MWp) External Revenues (EUR 000s) External EBITDA (EUR 000s) 1,400 1,400 1,200 +7.7% 1,097 0 1,196 1,019 1,200 +34% 1,200 1,000 -200 1,000 889 1,000 319.3 800 800 800 -400 600 -432 600 600 -600 876.3 400 400 400
Slide 10: Technology Trading
Q3 2025 Results Presentation Segment: Technology Trading Capacity Traded (MW) External Revenues (EUR 000s) External EBITDA (EUR 000s) 6,000 5,416 50 19 Inverters, MW 5,000 0 +146% 4,000 -50 Modules, MW 3,000 -100 2,200 2,000 -150 Batteries, MWh 1,000 -200 -196 0.0 10.0 20.0 30.0 40.0 0 -250 Q3 2024
Slide 11: Financial Results
Business Results Financial Results Q&As Siria, Romania (5.7 MWp)
Slide 12: Financial Results
Q3 2025 Results Presentation Financial Results In thousand EUR Q3 2025 Q3 2024 YoY change Q1–Q3 2025 Q1–Q3 2024 YoY change Total revenues 24,270 22,852 6.2% 72,026 64,141 12.3% of which from electricity generation 7,788 9,036 -13.8% 20,117 21,331 -5.7% other revenues 16,482 13,816 19.3% 51,909 42,81
Slide 13: Balance Sheet
Q3 2025 Results Presentation Balance Sheet Assets 300,000 EUR Total assets EUR 272.8 M -1.7% 268.3 M 275,000 14.4 M 11.3 M ► Fixed assets amounted to EUR 220.173 million compared to EUR 216.890 250,000 41.6 M Current assets 36.8 M 225,000 -14.0% million at the end of 2024. This increase can be prima
Slide 14: Cash Flow
Q3 2025 Results Presentation Cash Flow ► Operating cash flow of EUR 2.275 million compared to EUR 6.881 In thousand EUR Q3 2025 Q3 2024 million. Weaker operating cash flow can be partially attributed to higher Operating cash flow 2,275 6,881 non-cash items which were booked into Q3 result, FX transl
Slide 15: Photon Energy: Guidance 2025
Q3 2025 Results Presentation Photon Energy: Guidance 2025 In thousand EUR 2025 FY Guidance 120,000 Guidance 2025 Revenues 100,000 ► In the first nine months of 2025, the reported consolidated revenues amounted to 100,000 89,917 72% EUR 72.026 million which represents about 72.0% of the lower end of
Slide 16: Q&A
_™ Photon Energy Group Q&A
Slide 17: Thank you for joining us today!
Thank you for joining us today!