European Energy A/S: H1 2025 report

Financial Performance - European Energy reported a record-high H1 EBITDA of EUR 93 million and a last 12 months EBITDA of EUR 239 million, driven by strong project sales performance [5] - The outlook for 2025 is maintained at EUR 200-300 million, although the likelihood of achieving the lower half of this range has increased due to below-expectation power sales performance and potential delays in project sales [5] Power Sales and Project Divestments - Gross profit from power sales reached EUR 33 million, reflecting a 20% year-over-year increase, with 1,063 GWh produced, a 4% increase year-over-year [5] - The company successfully divested 8 projects totaling 1.2 GW across 3 transactions, generating EUR 99 million in gross profit, up from EUR 3 million the previous year, with an average realized gross profit margin of 24% [5] Financial Position and Construction Activity - As of H1 2025, the company had liquidity of EUR 235 million, consisting of EUR 138 million in cash and EUR 97 million in undrawn committed credit facilities, ensuring robust financial flexibility [5] - The highest construction activity ever was recorded, with 1.7 GW of projects under construction, including 1,380 MW of solar, 147 MW of wind parks, and 137 MW of PtX/BESS across 35 sites in eight European countries and Australia [5] Advancements in Projects - The Kassø e-methanol facility, the world's first large-scale commercial e-methanol facility, was officially inaugurated in May after producing its first e-methanol in March [5] - European Energy has made the Final Investment Decision to expand the Måde Green Hydrogen production site, with the addition of an electrolyser unit currently underway [5]