Boralex reports net earnings of $33 million for fiscal 2025 marked by the commissioning of large-scale projects in Canada and the United Kingdom

Core Insights - Boralex Inc. reported improved financial results for Q4 2025, driven by favorable wind conditions and new project commissioning, although overall annual results declined due to lower short-term electricity contract production [6][7][12]. Financial Results - Q4 2025 power production increased by 18% to 1,800 GWh compared to Q4 2024, while annual production rose by 8% to 6,147 GWh [7][17]. - Revenues from energy sales and feed-in premiums for Q4 2025 reached $241 million, a 6% increase from Q4 2024, while annual revenues decreased by 3% to $796 million [13][17]. - Operating income for Q4 2025 was $68 million, down from $78 million in Q4 2024, and annual operating income decreased to $166 million from $226 million [7][18]. - EBITDA(A) for Q4 2025 was $178 million, up 6% from Q4 2024, while annual EBITDA(A) fell to $552 million from $581 million [7][18]. - Net earnings for Q4 2025 were $26 million, compared to a net loss of $2 million in Q4 2024, while annual net earnings decreased to $33 million from $74 million [7][18]. Development and Construction Activities - Boralex commissioned six new projects in 2025, increasing installed capacity to 3,783 MW, including the Limekiln wind farm in the UK and several battery energy storage systems [6][7]. - Projects totaling 688 MW moved to the secured stage, including solar and battery energy storage projects in the US, Canada, and the UK [7]. - The company secured ministerial approval for the Clashindarroch wind farm extension and a contract for difference for the Sallachy wind farm in the UK [7]. Strategic Outlook - Boralex's 2030 Strategic Plan aims to double installed capacity by 2030 with a focus on growth, diversification, and long-term value creation, supported by $8 billion in investments [19]. - The company continues to expand its portfolio in response to sustained demand for renewable energy, participating in various tender calls in key markets [8][19]. Dividend Declaration - The Board of Directors announced a quarterly dividend of $0.1650 per common share, payable on March 16, 2026 [20]. Corporate Recognition - Boralex received multiple awards in 2025 for its commitment to social responsibility and energy transition, including recognition as one of the best corporate citizens in Canada [9].