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RENOVA (9519) investor relations material

RENOVA Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2026 earnings summary11 Nov, 2025

Executive summary

  • Revenue, EBITDA, and operating profit increased year-over-year, driven by new and resumed biomass plants, business development fees, and renewable energy operations.

  • All seven biomass power plants (445MW total) are now operational, with Karatsu Biomass consolidated in September 2025.

  • Himeji Energy Storage Facility (15MW) began operation in October 2025, marking the first merchant storage battery business.

  • A 100MW solar PV project in the Philippines secured a 20-year fixed-price contract.

  • Total comprehensive income reached ¥7,052 million, compared to a loss of ¥2,523 million a year earlier.

Financial highlights

  • Q2 FY3/2026 revenue rose to ¥40,609 million from ¥33,689 million year-over-year, a 20.5% increase.

  • EBITDA increased to ¥15,540 million (from ¥11,531 million), and operating profit to ¥4,888 million (from ¥2,152 million).

  • Profit attributable to owners of the parent was ¥3,323 million, up from a loss of ¥128 million.

  • EPS improved to ¥36.74 from -¥1.43 year-over-year.

  • Total assets increased to ¥556,398 million as of September 30, 2025.

Outlook and guidance

  • Full-year FY3/2026 forecasts remain unchanged: revenue ¥90,500 million, EBITDA ¥31,600 million, operating profit ¥9,300 million.

  • Profit attributable to owners of the parent expected to decrease to ¥1,500 million due to lower gains on step acquisitions.

  • Large Solar PV business expects stable performance; biomass segment to benefit from full-year contributions of new and resumed plants.

  • Development and Operation Business anticipates lower EBITDA due to reduced business development fees.

  • No revisions have been made to the previously announced forecast.

Explain full-year profit forecast vs H1 actual
Impact of cash flow hedges on comprehensive income
Details on Karatsu Biomass Energy G.K. acquisition
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Frequently asked questions

RENOVA Inc is a renewable energy company engaged in the development, ownership, and operation of renewable power generation facilities. The company focuses on energy sources such as solar, biomass, wind, and geothermal. Its activities include project planning, financing, construction, and long-term asset management. RENOVA Inc develops power generation projects both independently and through partnerships, with an emphasis on sustainable energy production and environmental impact mitigation. The company is headquartered in Tokyo, Japan, and its shares are listed on the TSE.

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