Novavis Group (NVG) Q2 2025 earnings summary

Executive summary

• Report covers the period from January 1 to June 30, 2025, for a group focused on renewable energy, especially photovoltaic projects.

• The group underwent a reverse acquisition, with Voolt S.A. as the accounting acquirer and Novavis Group S.A. as the legal parent.

• Main business is the development and sale of photovoltaic projects, with key contracts with Iberdrola Renewables Polska.

Financial highlights

• Consolidated operating revenue for H1 2025 was 68k PLN, down from 3,280k PLN year-over-year.

• Net loss for H1 2025 was (1,856)k PLN, compared to a net profit of 157k PLN in H1 2024.

• Operating cash flow was 1,150k PLN, up from (3,456)k PLN in H1 2024.

• Total assets at June 30, 2025, were 29,624k PLN, with equity of 3,673k PLN.

• Earnings per share for H1 2025 was (0.06) PLN, compared to 0.01 PLN in H1 2024.

Outlook and guidance

• The group expects to continue its focus on large-scale photovoltaic projects and is actively seeking new investors for key projects.

• Management sees opportunities in the growing renewable energy sector and anticipates legislative and infrastructure improvements.