Grenevia S.A. (GEA) H2 2025 earnings summary

Executive summary

• Revenue increased to 1,218 mln PLN in 2025, up 19% year-over-year, with net profit at 357 mln PLN, up 7%.

• EBITDA reached 508 mln PLN, with a margin of 42%.

• The company continued its transformation towards green energy, investing in OZE and E-mobility segments.

• Major organizational changes included acquisitions in wind energy and restructuring of the group.

Financial highlights

• Operating profit rose to 322 mln PLN from 289 mln PLN year-over-year.

• Cash flow from operations was 503 mln PLN, with cash and equivalents at year-end of 1,009 mln PLN.

• Total assets increased to 3,686 mln PLN, equity to 2,600 mln PLN.

• Net debt was negative (-284 mln PLN), indicating a cash surplus.

• Dividend for 2025 is recommended to be retained for reinvestment.

Outlook and guidance

• 2026 expected to be challenging due to continued decline in coal sector and low OZE project prices.

• Strategic focus remains on diversification, green transformation, and maintaining financial stability.

• Ongoing investments in OZE, E-mobility, and wind energy service segments.