Energiekontor (EKT) Q4 2024 earnings summary

Executive summary

• Transition year 2024 saw sales and earnings decline as expected, but adjusted earnings forecast was met and the growth strategy to 2028 was confirmed.

• Project pipeline and own generation capacity expanded, with portfolio on track to exceed 600 MW.

• Dividend proposal adjusted to €0.50 per share; forecast for FY 2025 significantly raised.

Financial highlights

• Sales fell 47.7% year-over-year to €126.5m; EBITDA down 46.2% to €72.9m; EBIT at €49.8m.

• Group result dropped 72.9% to €22.6m; EBT at €36.2m, down 62.1% from prior year.

• Earnings per share decreased to €1.62 from €5.97 year-over-year.

• Cash and cash equivalents at year-end €142.0m, down 19.1%; equity ratio at 24.1%.

Outlook and guidance

• FY 2025 Group EBT guidance raised to €70–90m, with main contributions from UK and US solar project sales.

• Project pipeline to continue growing; financial closes expected in Germany and France.

• Targeted EBT growth to €120m by 2028, with 15% average annual growth rate.