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Aquila European Renewables (AERI) investor relations material
Aquila European Renewables H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Entered managed wind-down following a shareholder vote in September 2024, focusing on orderly asset realisation and capital return to shareholders.
NAV declined 33% to €214.3m as at 31 Dec 2025, with share price falling 45% to €0.37 and discount to NAV widening to 35.6%.
Major asset disposals included Sagres hydropower (Portugal), Holmen II & Svindbaek wind (Denmark), and Desfina wind (Greece), with proceeds used for capital distributions.
Dividend payments reduced to €0.03 per share in 2025, reflecting lower earnings and asset base.
Financial highlights
Net loss after tax of €94.5m (2024: €29.7m loss), driven by €101.2m capital losses on investments.
Revenue increased to €15.3m (2024: €13.7m), but total portfolio revenues fell 33% year-over-year due to underperformance.
NAV per share dropped to 56.7 cents (2024: 84.7 cents); total NAV return -29.5% (2024: -8.2%).
Ongoing charges increased to 1.2% of average NAV (2024: 1.1%).
Dividend yield at 6.1% (2024: 7.8%).
Outlook and guidance
Board expects continued challenging market conditions, with further asset sales likely below NAV.
No forward dividend guidance; distributions will depend on earnings and liquidity.
Semi-annual NAV reporting to replace quarterly updates.
- Net assets declined 14% as the company began a managed wind-down and sold key assets.AERI
H2 202423 Feb 2026 - NAV fell, share price hit a 43% discount, and asset sales continue amid a managed wind-down.AERI
H1 20256 Oct 2025 - NAV fell 7.1% in 1H24, but dividend yield rose to 8.9% as wind-down looms.AERI
H1 202413 Jun 2025
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