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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Greencoat Renewables
Greencoat Renewables (GRP) investor relations material
Greencoat Renewables H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary14 Sep, 2026
Executive summary
Gross asset value is €2.3 billion with 1.4 GW operating capacity and over €950 million cash generated since IPO, managed by Schroders Greencoat LLP.
H1 2026 net cash generation was €59.8 million, supporting a 1.6x dividend cover and €37.5 million (3.41c/share) dividends paid; on track for a 2026 dividend target of 6.81c/share.
Capital allocation focuses on buybacks, deleveraging, dividends, hybridization, digital infrastructure, and enhanced PPAs, with €50 million of €100 million buyback program underway.
Portfolio is highly cash-generative, diversified across Europe, and maintains a leading position in Ireland.
Green Digital Infrastructure Platform launched to capture growth from rising electricity demand, especially from data centres.
Financial highlights
H1 2026 revenue was €157 million, down 2% year-over-year but up 4% like-for-like; EBITDA stable at €90 million; operating expenses decreased to €67 million.
Net cash generation declined 8% to €59.8 million, mainly due to weaker wind resource in Q1; underlying portfolio cash generation up 4% like-for-like.
Net asset value at €1.1 billion, NAV per share at 97.2c, and 2% NAV total return including dividends.
Gearing at 53% (gross), with €1.2 billion borrowings and €139 million cash on hand.
Weighted average cost of debt: 3.5%, with 89% fixed rate and first maturity in March 2027.
Outlook and guidance
Full-year dividend cover projected at 1.5x, exceeding initial guidance; 2026 dividend target of 6.81c/share maintained.
Portfolio expected to generate ~€600 million cash through 2030, supporting dividends, deleveraging, and reinvestment.
73% of forecast revenues contracted through 2030, rising to 75% post-Borkum PPA, supporting average dividend cover of 1.7x.
Gearing targeted to reduce from 53% to mid-40s by end of 2027, supported by disposals and organic cash flow.
Portfolio expected to benefit from long-term trends in electrification, energy security, and digital infrastructure demand.
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Latest events from Greencoat Renewables
- Strong cash generation funded dividends and growth, with >€400m of post-dividend cash flow forecast through 2028.GRP
H2 2023 - Lower 2025 revenue and NAV drive buybacks, digital infrastructure, and asset rotation for higher returns.GRPH2 2025
- Strong H1 cash flow, premium asset disposals, and robust dividend cover support growth outlook.GRPH1 2025
- Record H1 2024 results with high cash generation, strong contracted revenues, and dividend growth.GRPH1 2024
- €148.6m cash generated, over €100m returned to shareholders, and 71% cashflows contracted to 2029.GRPH2 2024
Next Greencoat Renewables earnings date
H2 20264 Mar, 2027
Greencoat Renewables
Next Greencoat Renewables earnings date
H2 20264 Mar, 2027
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Frequently asked questions
Greencoat Renewables PLC is a dedicated investor in euro-denominated renewable energy infrastructure assets, boasting an impressive portfolio with over 1,138MW of generation capacity. The company's core strategy revolves around targeting the vast secondary markets in continental Europe, recognizing a substantial opportunity to amass operating renewable energy generation assets.