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Neoen (NEOEN) investor relations material

Neoen Q4 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2024 earnings summary5 Mar, 2025

Executive summary

  • 2024 revenue rose 2% to €533.1 million, with adjusted EBITDA up 1% to €479.4 million, and adjusted net income down 72% to €22.4 million.

  • 1.9 GW of new projects awarded, bringing the secured portfolio to 10.8 GW, with 8.9 GW in operation or under construction at year-end.

  • Brookfield Renewable Holdings acquired a majority stake in December 2024 and launched a public tender offer for remaining shares.

  • Fourth-quarter revenue surged 22% year-over-year, driven by strong storage performance.

Financial highlights

  • Adjusted EBITDA margin was 90% (down from 91% in 2023); adjusted EBIT fell 11% to €263.4 million.

  • Net financial expense increased to €198.0 million, mainly due to higher debt costs and refinancing expenses.

  • Net cash from operations rose to €337.7 million; net cash used in investing activities was €1,438.0 million.

  • Gross debt increased to €4,899.6 million, with net debt at €4,264.0 million and a net debt/adjusted EBITDA ratio of 8.9x.

  • Cash position at year-end was €534.7 million, with total liquidity exceeding €900 million.

Outlook and guidance

  • Reiterates 2025 target of adjusted EBITDA over €700 million and 10 GW in operation or under construction.

  • Guidance incorporates best estimates for project commissioning and spot prices.

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Frequently asked questions

Neoen S.A. is a French renewable energy company specializing in the development, operation, and management of power plants. The company focuses on three main areas: solar energy, wind energy, and energy storage solutions. Neoen operates a portfolio of large-scale renewable projects across various regions, including Europe, the Americas, and Asia-Pacific. The company's services include the production and sale of electricity generated from renewable sources, with a commitment to sustainable energy transition. It works closely with local governments, utilities, and other organizations to implement clean energy solutions. The company is headquartered in Paris, France, and its shares are listed on the Euronext Paris.

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