7C Solarparken (HRPK) Q2 2026 earnings summary

Executive summary

• EBITDA for H1 2026 reached €28.9m, exceeding the half-year plan but down 12% year-over-year due to the end of favorable power price swaps and higher operating expenses.

• Net income for H1 2026 was €0.6m, a turnaround from a €2.8m loss in H1 2025.

• Net debt reduced to €87.4m, with a book value per share of €2.71 and ongoing share buy-backs.

• Strategic pivot to co-located battery storage (BESS), targeting 30–34 MW by 2027 and 60 MW by 2030.

• Installed capacity increased to 504 MWp, with 231 GWh produced (+3.7% YoY), and revenue declined 2.2% to €35.1m.

Financial highlights

• EBITDA H1 2026: €28.9m, €1.9m above plan but 12% below prior year; net result €0.6m after €5.4m impairment.

• Revenues on plan at €35.1m, with 99.3% from electricity sales; adjusted revenues 2% above plan after redispatch income.

• Net debt down to €87.4m (from €96.3m at year-end 2025); equity ratio at 44.5%.

• Cash flow per share €0.31, with share count reduced by 7.4% due to buy-backs.

• EBITDA margin dropped to 82.3% (H1 2025: 91.4%).

Outlook and guidance

• Full-year 2026 guidance confirmed: revenues €66.5m, EBITDA €50.0m, CFPS €0.50.

• Only €21.1m EBITDA remains to be delivered in H2; Q4 is unhedged, offering upside.

• Targeting annual PV and battery storage additions of at least 10 MWp and 15 MW/30 MWh through 2029.

• EBITDA expected to decline to €31m by 2030 as older, high-tariff assets exit support.

• New buy-back programme started in August 2026, further reducing share count.