Audax Renovables (ADX) Q1 2026 earnings summary

Executive summary

• Achieved sustained growth in profitability and key indicators, with supply points up 6.2% to 483k, energy portfolio up 4.6% to 16.9 TWh, and installed capacity up 21.7% to 325 MW compared to Q1 2025.

• Adjusted EBITDA reached EUR 33.4 million, in line with the previous year, and adjusted net profit rose 11.2% to EUR 16.1 million, excluding one-off blackout costs.

• Share price closed Q1 at EUR 1.44, supported by increased trading volume and a buyback program.

Financial highlights

• Revenues declined 6.5% year-over-year to EUR 534.3 million, while gross margin fell 7.5% to EUR 58.1 million.

• Adjusted EBITDA increased 0.6% to EUR 33.4 million; adjusted net profit rose 11.2% to EUR 16.1 million.

• Energy supplied grew 2.8% to 5.1 TWh, with electricity at 2.7 TWh (+5.6%) and gas at 2.4 TWh (-0.1%).

• Net financial debt increased 17.7% year-over-year to EUR 336.1 million; leverage ratio at 58.9%.

Outlook and guidance

• Strategic focus on profitable growth, operational efficiency, and further expansion in key European markets.

• Ongoing implementation of the 2026-2030 Strategic Plan, emphasizing data-driven solutions, transparency, and diversification.