Enlight Renewable Energy (ENLT) investor relations material

Executive summary

• Achieved record Q2 2026 results with 55% year-over-year growth in revenue and income, and 67% growth in adjusted EBITDA; net profit reached $31 million and operating cash flow was $84 million.

• Portfolio expanded to 43.1 factored GW, with significant progress in the U.S. and Europe, including new storage projects in Finland and Romania.

• Secured major milestones, including a $2.6 billion financial close for the CO Bar Complex and a PPA with Google.

• Raised 2026 annual guidance for revenues and adjusted EBITDA, reflecting strong first-half results and favorable market conditions.

• Launched a global data center pipeline targeting 2 GW IT capacity across the U.S., Israel, and Europe.

Financial highlights

• Q2 2026 revenues: $210 million (+55% YoY); net income: $31 million (+460% YoY); adjusted EBITDA: $160 million (+67% YoY).

• H1 2026 revenues: $409 million (+55% YoY); adjusted EBITDA: $314 million (+38% YoY); net income: $69 million (excluding one-time gains, up 160% YoY).

• Operating cash flow for H1 2026: $185 million (+48% YoY).

• Sunlight cluster sale contributed $17 million in Q2 and $30 million in H1 2026.

• Tax credit income in Q2 2026: $44 million, up from $19 million YoY.

Outlook and guidance

• Raised full-year 2026 revenue guidance to $790–$820 million (from $755–$785 million); adjusted EBITDA guidance increased to $565–$585 million (from $545–$565 million).

• 2026 revenue and income guidance midpoint raised to $805 million; adjusted EBITDA guidance midpoint to $575 million.

• By year-end 2028, operating capacity expected to reach 12–12.3 FGW and annual recurring revenue over $2.2 billion.

• Guidance increase driven by strong H1 performance, higher electricity prices in Europe and Israel, and growth in electricity trading.

• Sustaining a 40% compounded annual growth rate in both revenue and adjusted EBITDA.