Alerion Clean Power (ARN) H2 2025 earnings summary

Executive summary

• Approved annual and consolidated financial statements for the year ended December 31, 2025, with strong growth in net income and equity, and a robust capital structure.

• Major strategic moves included the sale of Eolica PM S.r.l. (equity recycling), expansion in Ireland, and continued investments in Italy and Romania.

• The group presented its 2025–2028 Industrial Plan, targeting a doubling of installed capacity to 2.5 GW by 2028, with €1.8 billion in planned investments.

Financial highlights

• Adjusted revenues: €246.9m (2024: €243.6m); adjusted EBITDA: €191.0m (2024: €188.4m); adjusted net income: €104.4m (2024: €96.2m).

• Group net income: €93.3m (2024: €95.8m); EPS: €1.74 (2024: €1.79).

• Equity: €426.0m (2024: €366.7m); net financial debt: €598.6m (2024: €533.8m).

• Dividend of €0.61/share paid in May 2025; proposed dividend of €0.61/share for 2026.

• Cash flow from operations: €70.4m; capex: €88.8m; liquidity at year-end: €344m.

Outlook and guidance

• 2026 will focus on new wind farm construction in Romania and Italy, and investments in battery storage (BESS) in Spain and Romania.

• No expected negative impact from ongoing geopolitical tensions.

• Continued execution of equity recycling strategy to fund growth.