Ecoener (ENER) H2 2024 earnings summary

Executive summary

• Turnover rose 28% to €82 million in 2024, driven by competitive PPAs and new assets in the Dominican Republic and Colombia.

• EBITDA increased 30% to €42.1 million, with consolidated net profit at €12.1 million, matching the previous year.

• Energy production surged 41% to 706 GWh, and assets in operation grew 25% to 427 MW.

• International expansion advanced with the first European project outside Spain and a major wind project in Canada.

Financial highlights

• Revenues reached €82 million, up 28% year-over-year.

• EBITDA climbed 30% to €42.1 million.

• Net profit totaled €12.1 million, consistent with the prior year.

• Cash balance at year-end was €71 million.

• €191 million invested in 2024, a 54% increase from the previous year.

Outlook and guidance

• Plans to begin construction of 380 MW in 2025, targeting 1 GW in operation or under construction by year-end.

• Storage business to be expanded, with new battery projects in Gran Canaria and the Dominican Republic.

• All future photovoltaic projects in the Dominican Republic to include storage.