Galata Wind Enerji (QWIND) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 remained flat year-over-year at TRY 2,232 million, with EBITDA down 4% to TRY 1,563 million and net profit declining 9% to TRY 735 million.

• Generated 691,609 MWh of electricity in the first nine months of 2025, with 647,323 MWh from wind and 44,286 MWh from solar sources.

• Operates three wind and two solar power plants with a total installed capacity of 354.2 MW.

• Expanded international presence with subsidiaries in the Netherlands, Germany, and Italy.

• Total assets increased by 1% to TRY 18,830 million, with equity rising 3% to TRY 13,466 million.

Financial highlights

• Cost of sales rose 13% due to higher depreciation from new capacity, leading to an 11% decrease in gross profit.

• Free cash flow turned negative at -TRY 249 million, down from TRY 855 million a year ago.

• CapEx for the period was TRY 1,290 million, a 15% decrease year-over-year.

• Operating profit rose to TRY 1,284.3 million from TRY 1,126.7 million year-over-year.

• Earnings per share for the period was TRY 1.361 (2024: TRY 1.495).

Outlook and guidance

• Ongoing investments include capacity expansions in Turkey and new projects in Germany and Italy, targeting a total installed capacity of 1,086.8 MW by 2030.

• Announced acquisition of a 20 MW solar project in Germany, increasing total German capacity to 123 MW upon completion.

• Taşpınar WPP and Hybrid SPP to continue benefiting from YEKDEM feed-in tariffs until 2030.