Solaria Energía y Medio Ambiente (SLR) Q3 2025 earnings summary

Executive summary

• Achieved record net profit growth of 148% year-over-year for the first nine months, with EBITDA up 75% and EBIT up 93%.

• Installed capacity reached 1,928 MW, up 16% year-over-year, targeting 3 GW by year-end and 4.4 GW in operation and under construction.

• First hybrid battery energy storage system (BESS) connected in Spain, with further BESS projects under construction and 2.8 GW under development in Spain and Italy.

• Focused on renewable energy development and generation in Europe, aiming for sustainable economic growth and reduced environmental impact.

• Significant progress in data center supply, securing access and connection for over 1 GW of demand in Madrid and the Basque Country.

Financial highlights

• Total revenues increased 65% year-over-year to €258.9 million, driven by a major asset sale, despite a 5% decrease in energy production.

• Net profit for the period was €141.7 million, up from €57.1 million in the prior year.

• EBITDA reached €230.7 million, representing 90-94% of the full-year target.

• EBITDA margin improved to 89% from 84%; net profit margin rose to 55% from 36%.

• Operating cash flow was €62.5 million, with €244 million invested year-to-date.

Outlook and guidance

• Upward revision of EBITDA guidance for 2025, with expectations to exceed the target range of €245-255 million.

• Expects to end 2025 with nearly 1 GW of environmentally approved capacity in Italy.

• Strategy focused on scaling up, maintaining stable costs, and improving operational leverage.