Agripower France (ALAGP) H1 2025 earnings summary

Executive summary

• Net economic revenue for H1 2024-2025 reached €2.63M, up nearly 20% year-over-year, with a significant reduction in operating loss and positive cash flow of €0.2M for the semester.

• Strategic shift toward developing large-scale biomethane injection units, with the first majority stake in an agricultural methanization unit acquired in October 2024 and biomethane injection starting February 2025.

• Order backlog stands at €7M, with a project pipeline exceeding €20M, supporting a confirmed revenue target of over €10M for 2025-2026 and breakeven ambitions.

Financial highlights

• Net economic revenue increased by €0.47M to €2.63M compared to H1 2023-2024.

• Published net revenue was €2.31M after a €0.32M write-off for canceled farm cogeneration projects.

• EBITDA loss reduced to -€0.96M, more than halved year-over-year; operating loss improved to -€1.11M, a €1.47M improvement.

• Net result improved to -€0.9M, supported by a positive financial result of €0.12M.

• Gross available cash at €4.3M, with net cash (after financial debt) at €1.6M as of December 31, 2024.

Outlook and guidance

• Revenue target for 2025-2026 set at over €10M, with breakeven expected.

• Final investment decisions on a portion of the €20M+ project pipeline anticipated within 3 to 12 months.

• Selective approach to own-account projects to focus resources on the most attractive opportunities.