H1'25 Results & Roadmap Towards 2030
18.09.2025ANALYST CONFERENCE CALL
Steven DE PROOST, CEO Koen BORIAU, CFO
AGENDA
H1'25 Results
Focus & Guidance 2025
IPP Portfolio
Capacity & Prices 2030
Roadmap 2030
1
H1'25 RESULTS
▪
Against a record of negative prices, H1'25 results demonstrated the quality of the portfolio and its underlying profitable model.
▪
Swaps, Curtailment and Intraday optimization are key differentiators
▪
Balance Sheet remains very solid
SUMMARY A Visible Roadmap Towards 2030
2
VALUATION REALITY
▪
Management completed a valuation test on all assets based on its new price scenario, plant performance and on-site consumption ratios (BE)
▪
4% of asset value has been impaired, ~ EUR 0,18/share. Reflecting strong H1'25 EBITDA, book value remained flat at EUR 2,65/share and supports the buy-back strategy
3
REUDEN SUD
▪
Impairment of shareholder loan by EUR 5,4 Mio. in 2024 has overshadowed the group's fundamentals
▪
Under a negotiated solution with all stakeholders, the group decided to pursue the completion of the project with value-enhancing potential
4
WAY FORWARD
▪
Management forecasts structurally less negative hours, but more hours with zero prices going forward.
▪
Co-location: "integrated PV
+ Battery" mult-markets model with a goal to invest up to 60 MW BESS until 2030
▪
Share buy-backs of EUR 8 Mio. are targeted as annual shareholder remuneration
H1'25 RESULTS
"XC So/xrparken exceeded HI'2:ii guidance despite a chx/fenging mar#ef environment. EBITDA rose bz 41% to EUR 32.0 Nio. The o/der parks beneñted from improved irradiation, whereas the zwap apreementz and zmaW cvNai/mentz kept the proñtability of yovnperinsta//ationsintart"
| Attention: This is an excerpt of the original content. To continue reading it, access the original document here. |
