Soltec Power (SOL) Q2 2026 earnings summary

Executive summary

• Commercial capacity restored after financial restructuring in December 2025, including a €30M capital injection, debt reduction, and new majority shareholder holding 77% of equity, enabling renewed contract tendering and commercial activity.

• Strategic reorientation to focus on core tracker supply and project development, discontinuing capital-intensive, higher-risk, and lower-margin activities.

• Identified pipeline exceeds 44GW across 420 projects in 26 countries, with over 20 projects in final bidding or award stages.

• Corporate governance strengthened with new chairman, independent directors, and expanded regional management for EMEA, North America, and LATAM.

• Brand renewed and active presence at major international sector events in Brazil, Mexico, the US, Italy, and Germany.

Financial highlights

• Consolidated sales for H1 2026 were €9.7M (or €9M), mainly from the solar tracker segment, down 85% year-over-year.

• Operating costs and structural costs reduced by over 50% year-over-year.

• EBITDA for H1 2026 was negative €18.5M; adjusted EBITDA was negative €22.3M, reflecting the recovery phase and low contract signings.

• Net income was negative €28.2M, with €16M in non-cash accounting impairments in the energy division.

• Results from discontinued operations contributed a positive €6.2M.

Outlook and guidance

• Expectation to reactivate contract signings for solar trackers in the second half of 2026 as commercial activity ramps up and legacy low-margin projects are completed.

• Focus on cash generation, non-capital intensive, more profitable, and lower-risk activities, with continued divestment of non-core energy assets.

• Strategy centers on technological innovation and financial discipline.