Solaria Energía y Medio Ambiente (SLR) Q2 2025 earnings summary

Executive summary

• Net profit nearly doubled year-over-year in H1 2025, up 97% to €82.1M, with revenues rising 59% to €155.1M, driven by strong execution and capacity expansion.

• EBITDA rose 66% to €140.1M, with investments totaling €165M in H1 2025.

• 300 MW of new capacity connected this quarter, progressing toward 3 GW by year-end and 4.4 GW in operation or under construction.

• Expansion into batteries and data centers, with 1.2 GW of data center demand secured and over 1,000 MWh of battery capacity acquired.

• Strategic focus on shareholder returns, including a stock buyback program (2–2.1% repurchased) and major deal with Stonepeak for Generia.

Financial highlights

• EBITDA reached €140.1M (+66%) for H1 2025; full-year guidance set at €245–255M.

• Net profit doubled to €82.1M (+97% YoY); revenues increased 59% to €155.1M.

• EBIT rose 79% to €116.3M; profit before tax up 101% to €96.9M.

• Maintained strong CAPEX discipline, with global CAPEX below €0.38 per watt and investments totaling €165M.

• Cash position remains stable, with investments covered by project finance and cash at €43.8M as of June 30, 2025.

Outlook and guidance

• On track to reach 3 GW connected by year-end and 4.4 GW under construction or connected.

• Targeting 4 GW installed solar PV by end-2026 and 19.2 GWh of battery storage in the pipeline.

• Confident in meeting 2025 EBITDA guidance; new business plan and CMD scheduled for November.

• Plans to sign new PPAs and maintain a 75% contracted/25% merchant mix.

• Continued international expansion in Italy, Germany, Portugal, and the UK.