Eurowind Energy has published its financial statements for the second half of 2024, showing significant progress for the energy company. In the period from 1 July to 31 December 2024, the group achieved revenue of 99.4 million euros, EBITDA of 200.6 million euros and profit before tax of 130 million euros. The net profit ended at 102 million euros. Eurowind Energy, which has adjusted its financial year to the calendar year, describes the result in a press release as "very satisfactory."
- The six months were a typical Eurowind Energy period. We experienced significant progress across our business and solid profitability. It is crucial that we live up to our ambition on a daily basis to be a company that not only generates good ideas, but also executes them systematically and commercially sensibly. Our performance in the second half of 2024 is proof that we are good at exactly that, says Jens Rasmussen, CEO of Eurowind Energy.
According to the company, the results are mainly driven by high electricity prices in the fourth quarter, stable progress in ongoing projects and strategic divestments of minority shares in certain energy parks.
- In a more complex renewable energy market, Eurowind Energy delivers a strong result. The progress confirms the strategy of focusing on parks that combine wind and solar energy, and to be present broadly in Europe and in USA. This sets Eurowind Energy up for further growth in the coming years, says Gert Vinther Jørgensen, Chairman of the Board of Directors of Eurowind Energy.
Big plans for 2025
The development pipeline grew by 5.5 GW in the first half of the year, reaching a total capacity of 59.4 GW. At the same time, the company had almost 900 MW under construction.
The group is optimistic about 2025 and plans to build up to 50 new energy parks across Europe, adding almost 1 GW of capacity to energy production. In addition, Eurowind expects EBITDA of between 120 and 240 million euros. The expected result before tax is between 60 and 90 million euros. The range is due to possible divestments.
- We have started well in 2025, and we will continue to focus on getting things done, while ensuring that we are profitable. The ability to generate profit and build an attractive development pipeline is what will enable us to maintain an aggressive growth strategy towards 2030, says Jens Rasmussen.
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