Alerion Clean Power (ARN) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached €83.4M, up 7.5% year-over-year, driven by higher electricity production and favorable pricing, despite the sale of a major wind asset in late 2025.

• EBITDA rose to €53.7M from €51.8M, with an EBITDA margin of 73.5%. Proforma adjusted EBITDA reached €60.4M.

• Net income increased to €6.5M from €5.8M, with group net income at €6.1M.

• Installed gross capacity grew to 1,072.5 MW, and consolidated electricity production rose 7.8% to 647.1 GWh, supported by new capacity and improved wind conditions.

• Major events included a €300M green bond issuance, early redemption of a €200M bond, acquisition of a 48.8 MW wind project in Sicily, and completion of a 51 MW solar plant in Romania.

Financial highlights

• Operating revenue: €83.4M (+7.5% YoY); operating revenue from energy sales: €73.1M.

• EBITDA: €53.7M (+3.7% YoY); EBIT: €27.4M (+7.5% YoY); profit before tax: €11.0M.

• Net income: €6.5M (+12% YoY); group net income: €6.1M.

• Net financial debt: €744.9M (up €146.3M from Dec 2025), mainly due to investments and dividend payments.

• Equity: €392.2M (down €33.8M from Dec 2025), reflecting dividend distribution and FX losses.

• Cash and equivalents: €311.1M (down €32.9M from Dec 2025).

• Dividend of €0.61/share paid in May 2026, totaling €32.7M.

Outlook and guidance

• Construction continues on ~400 MW of new wind, solar, and storage capacity in Italy, Romania, and Spain, with first effects expected by year-end.

• Management expects further growth in installed capacity and production, leveraging ongoing investments.

• No significant events occurred after 30 June 2026 that would impact the outlook.