RENOVA (9519) Q3 2026 earnings summary

Executive summary

• Revenue, EBITDA, and operating profit rose year-over-year, driven by new and resumed biomass plant operations, business development fees, and expansion in renewable energy power generation.

• Profit attributable to owners of the parent increased to ¥3,643 million, reversing a prior year loss, due to a gain on step acquisition from Karatsu Biomass consolidation.

• Project finance of JPY 22.3bn was arranged for 1,300 small-scale distributed Solar PV sites (170MW), marking a first in Japan.

• Construction began on Yasugi Energy Storage Facility (2MW) and is expected to start soon for a 90MW BESS project.

• Total comprehensive income increased 77.6% year-over-year to ¥35,600 million.

Financial highlights

• Q3 FY3/2026 revenue: ¥64,016m (+31.7% YoY); EBITDA: ¥24,197m (+45.6% YoY); operating profit: ¥7,759m (+206.8% YoY).

• Profit attributable to owners: ¥3,643m (vs. -¥912m YoY); EPS: ¥40.29 (vs. -¥10.14 YoY).

• Installed capacity increased to 1,212.6MW from 883.8MW YoY.

• Total assets increased to ¥599,058 million from ¥530,051 million as of March 31, 2025.

• Equity attributable to owners rose to ¥112,318 million, with total equity at ¥172,633 million.

Outlook and guidance

• FY3/2026 revenue forecast: ¥90,500m (+29% YoY); EBITDA: ¥31,600m (+36% YoY); operating profit: ¥9,300m (+129% YoY).

• Profit attributable to owners expected to decrease to ¥1,500m due to lower step acquisition gains; basic EPS forecast at ¥16.59.

• Full-year contributions expected from Omaezakikou, Tokushima Tsuda, and Karatsu Biomass plants.