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 and EBIT up 75% and 93% respectively, and significant expansion in Europe and new technological ventures.

• Installed capacity reached 1,928 MW, up 16% year-over-year, with a target of 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 expansion in storage and data centre supply.

• Focused on renewable energy development and generation, primarily in Europe, with a mission to drive sustainable economic growth and reduce environmental impact.

• Strategic milestones include major plant launches and the first hybridised battery connection in Spain.

Financial highlights

• Total revenues increased 65% year-over-year to €259 million, despite a 5% decrease in energy production due to lower solar radiation.

• Net profit for the period was €142 million, up from €57.1 million in the prior year.

• EBITDA reached €231 million, representing 90-94% of the full-year target and up 75% year-over-year.

• EBIT was €193.3 million, up 93% year-over-year.

• 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, supported by international growth and new business lines.

• Expects to end 2025 with nearly 1 GW of environmentally approved capacity in Italy and 2.8 GW BESS under development in Spain and Italy.

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