Energiekontor (EKT) Q3 2026 earnings summary

Executive summary

• 9M 2026 performance was hit by delayed Scottish grid connections; the FY Group EBT forecast was cut from €40–60m to €5–10m.

• Own-park capacity reached 460.6 MW, with eight projects totaling 226.8 MW under construction for the portfolio and projected capacity of 687.4 MW after commissioning.

Financial highlights

• FY 2026 Group EBT guidance is €5–10m, versus the initial range of €40–60m and FY 2025 EBT of €40.5m.

• FY 2026 project development and sales EBT is expected significantly below FY 2025’s €20.8m; own-park generation and operations segments are expected approximately in line with FY 2025.

Outlook and guidance

• FY 2026 own-park generation EBT is expected approximately in line with FY 2025’s €17.1m, assuming average wind and solar conditions for the rest of the year.

• Operations development, innovation and others EBT is expected approximately in line with FY 2025’s €2.5m.

• Seven Scottish projects above 350 MW received revised grid offers for 2029–2032; offers for seven more projects above 480 MW are expected by end-Q1 2027.

• Grid-offer review will support assessment of 14 UK projects above 830 MW and their potential earnings contributions in coming years.