Solaria Energía y Medio Ambiente (SLR) Q2 2026 earnings summary

Executive summary

• Achieved record H1 2026 results with 51% production growth to 1,717 GWh, revenue up 44% to €223.3 million, and net profit rising 52% to €124.9 million, driven by new capacity and data centre infrastructure growth.

• EBITDA increased 50% to €210.1 million, reaching 64% of the annual target in H1.

• Infrastructure sales surged 355% year-over-year to €99.6 million, exceeding all of 2025's total.

• Major project milestones included environmental approvals for large solar and battery projects in Italy and Spain, and new long-term PPAs for solar and storage.

• Strong outlook for H2 2026, supported by higher energy prices, expanded battery storage, and reaffirmed multi-year EBITDA targets.

Financial highlights

• Total revenues reached €223.3 million (+44% YoY), with EBITDA at €210.1 million (+50% YoY) and net profit at €124.9 million (+52% YoY).

• EBIT increased 55% to €180.0 million, with margins improving to 81%.

• Cash and cash equivalents rose to €209.4 million, up 186% from FY 2025.

• Net financial debt reduced to €1,146 million, with leverage down to 3.9x from 5.4x.

• Investments totaled over €276 million in H1 2026.

Outlook and guidance

• Reaffirmed EBITDA targets: €331 million for 2026, €456 million for 2027, and €521 million for 2028.

• H2 2026 expected to accelerate earnings growth, supported by higher merchant prices and new capacity additions.

• 3.6 GW in operation targeted by year-end 2026, with significant BESS deployment underway.

• Capital efficiency and cost efficiency program underway, targeting €7 million in annualized savings.

• Strategic plan and growth targets to be updated at Investor/Capital Markets Day in November 2026.