European Energy increased revenue significantly in 2025

In 2025, European Energy increased its revenue by around 84 percent to 766 million euros from 416 million euros the previous year. EBITDA increased to 170 million euros against 154 million euros in 2024, and profit before tax grew to 39 million euros from 29 million euros. This is stated by European Energy in a press release.

- European Energy has delivered significant operational progress and high activity across our core portfolio within renewable energy, as well as achieved significant progress within our new business areas in PtX and battery storage, says Knud Erik Andersen, CEO of European Energy.

The progress was mainly driven by a strong boost in project sales, which increased to 619.7 million euros from 278.0 million euros the previous year. At the same time, earnings were under pressure. Downregulation in the electricity market and a more difficult M&A market than expected affected both the timing and value of divestments. Revenue from electricity generation increased slightly to 137.8 million euros from 130.4 million euros, affected by limited production due to downregulation.

However, the company did not meet its original EBITDA expectation for 2025 of 200-300 million euros. However, the company itself had announced this in November, when the expectation was adjusted down to 200 million euros with a margin of +/- 15 percent, partly because project sales risked not being realized until 2026. With a realized EBITDA of 170 million euros, the result landed exactly within the adjusted downscaled framework.

At the same time, expansion continued. In 2025, 1,189 MW of renewable energy projects reached a final investment decision, while 662 MW were connected to the grid. At the end of the year, European Energy had 1.3 GW under construction in eight countries, and 6 GW projects were in the structuring phase.

Focus on battery storage

Battery storage also played a larger role in the business. The pipeline within BESS grew from 2.4 GW to 7.4 GW during the year, and 54 MW with a storage capacity of 204 MWh were connected to the grid in the past year. The company highlights batteries as a tool to manage downregulation and fluctuations in electricity prices. Within PtX, the e-methanol plant in Kassø was commissioned in 2025.

- The board of directors sees the year's progress as an important step in positioning European Energy for the next growth phase. As market conditions improve, the foundation will enable us to seize opportunities with speed and scale, says Jens Due Olsen, chairman of the board of directors of European Energy.

At the end of the year, the company had a total production capacity of 3.8 GW and produced 4.5 TWh of renewable electricity from owned and managed plants.

For 2026, the company expects an EBITDA in the range of 200-300 million euros. The improvement is expected to come mainly from higher project sales and from the rollout of battery storage at existing facilities. However, the company emphasizes that the development remains dependent on market conditions, including the M&A market, permits, grid connection and electricity prices, and that results may vary significantly between quarters.