Terna Energy (TENERGY) H1 2025 earnings summary

Executive summary

• Revenue from continuing operations for H1 2025 was €140.7 million, down 7.5% year-over-year, mainly due to lower wind power and network curtailments.

• EBITDA from continuing operations reached €94.4 million, a 1.3% decrease compared to H1 2024.

• Net profit attributable to shareholders from continuing operations increased by 3.9% to €31.08 million.

• The company completed its transition to a sole shareholder structure under MASDAR HELLAS SINGLE MEMBER S.A. in April 2025.

• Major investments continued, including the Amfilochia pumped storage project and new photovoltaic and battery storage projects.

Financial highlights

• Revenue from continuing operations: €140.7 million (H1 2025), down from €152.1 million (H1 2024).

• EBITDA: €94.4 million (H1 2025) vs. €95.7 million (H1 2024).

• Net profit from continuing operations: €31.08 million (H1 2025) vs. €29.90 million (H1 2024).

• Net debt as of 30/06/2025: €769.1 million, down from €795.6 million at 31/12/2024.

• Cash and cash equivalents: €324.8 million, including €68.2 million in restricted deposits.

• Investments from continuing operations: €56.2 million in H1 2025.

Outlook and guidance

• The group aims to increase installed capacity to 6 GW by 2030, with ongoing construction of 376.4 MW in photovoltaics and 40 MW in battery storage.

• Integration into MASDAR is expected to accelerate growth and capacity expansion.

• Continued focus on long-term, recurring revenue streams through green energy investments.