European Energy A/S: Q1 2025 report

Core Insights - European Energy reported a strong Q1 2025 financial performance with an EBITDA of EUR 45.9 million, a significant increase of EUR 49.6 million compared to Q1 2024, driven by higher sales of energy parks and ready-to-build projects [5] Financial Performance - Q1 2025 EBITDA reached EUR 45.9 million, up from EUR -3.7 million in Q1 2024, indicating a robust recovery and growth in operational efficiency [5] - The company divested energy parks and projects totaling EUR 165.6 million in Q1 2025, a substantial increase from EUR 4.2 million in Q1 2024, with a total capacity of 1.169 MW divested [5] - Gross profit from the sale of energy parks and projects was EUR 48.9 million in Q1 2025, compared to a loss of EUR 7.9 million in Q1 2024, reflecting improved sales margins [5] Power Production and Sales - Total power production in Q1 2025 was 496 GWh, a decrease of 59 GWh or 11% compared to Q1 2024, leading to a gross profit from energy sales of EUR 15.6 million, also down by 11% year-over-year [5] Project Developments - Progress on Power to X (PtX) projects was notable, with the Kassø e-methanol facility in Denmark producing industry-grade e-methanol for the first time in April 2025, certified under the EU's sustainability framework [5] - The facility began supplying e-methanol to major companies including A P Moller-Maersk, Novo Nordisk, and the Lego group [5] Financial Position - European Energy ended Q1 2025 with an unrestricted cash position of EUR 189 million and undrawn committed revolving credit facilities of EUR 93 million, indicating a strong funding status [5] 2025 Financial Outlook - The company maintains its 2025 EBITDA outlook in the range of EUR 200-300 million, supported by Q1 2025 results aligning with expectations and plans for the remainder of the year [5]