Abu Dhabi Future Energy Company - Masdar (MASDAR) H2 2025 earnings summary

Executive summary

• Revenue increased to AED 3,733 million for 2025, up from AED 3,422 million in 2024, driven by growth in renewable power generation and new acquisitions.

• Net profit declined to AED 356 million from AED 412 million year-over-year, impacted by higher finance and administrative expenses.

• Major acquisitions included full ownership of Saeta Yield and increased stake in Terna Energy, expanding the asset base and pipeline.

• Total assets rose to AED 70,492 million, with significant increases in both equity and liabilities due to acquisitions and financing activities.

Financial highlights

• Revenue: AED 3,733 million (2024: AED 3,422 million), a 9% increase year-over-year.

• Net profit: AED 356 million (2024: AED 412 million), a 14% decrease year-over-year.

• Total assets: AED 70,492 million (2024: AED 60,102 million), up 17% year-over-year.

• Total equity: AED 31,631 million (2024: AED 29,008 million), up 9% year-over-year.

• Total liabilities: AED 38,861 million (2024: AED 31,075 million), up 25% year-over-year.

• Gross profit: AED 1,829 million (2024: AED 1,514 million).

• EBITDA and EBIT not explicitly stated, but operating cash flow improved to AED 1,196 million from negative AED 2,215 million.

Outlook and guidance

• Continued focus on expanding renewable energy portfolio through acquisitions and project development.

• Significant capital commitments and pipeline projects in Europe, Central Asia, and the Middle East.

• Management expects further growth in revenue and asset base, with ongoing investments in wind, solar, and battery storage.