Espe (ESPE) H1 2026 earnings summary

Executive summary

• H1 2026 sales revenue was €32.589m, up 25.9%; value of production rose 36.0% to €41.041m and EBITDA increased 44.0% to €7.751m.

• Order portfolio reached €109.6m at 30 September 2026, up 39.6% from year-end 2025, with execution expected by end-2027.

Financial highlights

• Net profit was €3.919m, including €3.1m attributable to the Group, versus €2.680m in H1 2025; income taxes were €1.783m.

• Operating cash flow was €8.558m; cash and cash equivalents rose to €7.794m from €3.046m at year-end 2025.

• Net working capital was €20.2m versus €28.3m at year-end 2025, reflecting lower trade receivables and higher customer advances.

Outlook and guidance

• The €109.6m portfolio included €62.5m ground-mounted PV, €37.9m agrivoltaics and €6.8m rooftop PV; completion was expected by end-2027.

• Priorities include expanding O&M, Energy Security, BESS and electrical-substation capabilities, completing facilities and investing in equipment.

• Management expected core activities to strengthen in FY 2026 through organic growth and planned investment.