Premier Energy (PE) Q2 2026 earnings summary

Executive summary

• Achieved 10% year-over-year normalized revenue growth to EUR 877 million and 27% normalized EBITDA growth to EUR 79 million in 1H 2026, driven by renewable asset expansion and operational efficiency.

• Reported IFRS revenue rose 4% to EUR 871 million, with adjusted EBITDA at EUR 73 million and net profit of EUR 22 million, reflecting tariff deviations in Moldova.

• Major acquisitions included a 158 MW wind park in Hungary and consolidation of renewable assets, while divesting Alive Capital.

• Ongoing investments in solar and battery storage projects, with 137 MW solar and 46 MWh battery capacity completed and a 400 MWh battery project under construction.

• Vertically integrated, diversified business model supported performance amid market volatility and operational challenges.

Financial highlights

• Normalized revenue: EUR 877 million (+10% YoY); normalized EBITDA: EUR 79 million (+27% YoY); reported revenue: EUR 871 million (+4% YoY); adjusted EBITDA: EUR 73 million; net profit: EUR 22 million.

• Normalized net profit increased by 32% to EUR 40 million, adjusted for tariff deviations.

• Net debt: EUR 231 million; working capital adjusted net debt: EUR 58 million (0.4x pro forma LTM EBITDA).

• Total assets: EUR 1,185 million (+4% YoY); equity: EUR 572 million.

• Net debt to EBITDA at 1.4x; working capital-adjusted net debt to EBITDA at 0.4x.

Outlook and guidance

• Management projects FY 2026 normalized revenue of ~EUR 1.5 billion and normalized EBITDA of EUR 150–160 million, excluding Evryo Group acquisition.

• Guidance is conservative due to market volatility; potential for upside.

• Evryo acquisition expected to close in H2 2026, with leverage rising to 2.5–3x EBITDA post-closing.

• Over EUR 100 million invested in assets not yet contributing to results, expected to add EUR 20–25 million EBITDA annually once operational.