7C Solarparken AG

Latest Results (23.12.2025):

7C Solarparken AG — first half (H1) 2025 (covering Q2 2025): The Group delivered a strong operational performance with EBITDA of EUR 32.8m in H1 2025 (up 41% year‑on‑year) and raised full‑year EBITDA guidance to at least EUR 51m and cash‑flow‑per‑share guidance to at least EUR 0.50. Despite higher EBITDA, the company reported a net loss of EUR 2.8m for H1 2025 after recognizing EUR ~14.8m of impairment losses on property, plant and equipment driven by subdued medium/long‑term PV price expectations. Cash and liquidity remain robust (cash €85.8m), the IPP portfolio stood at 494 MWp at 30 June 2025, and the share buyback programme will continue as planned.

EBITDA and guidance

EBITDA for 2025 H1: EUR 32.8m (up 41% vs 2024 H1). Management raised FY2025 EBITDA guidance to “at least” EUR 51m and increased the cash‑flow‑per‑share guidance to “at least” EUR 0.50 per share.

Revenue and operating result

Revenue for H1 2025: EUR 35.9m (H1 2024: EUR 31.6m). Other operating income added EUR 4.2m. Operating result (EBIT) turned slightly negative at EUR -0.5m due to higher depreciation and impairments.

Impairments and net result

Impairment losses on property, plant and equipment of approx. EUR 14.8m were recognised in H1 2025 because of expectations of prolonged weak PV market prices. As a result, profit for the period was a net loss of EUR 2.8m (attributable to shareholders: EUR -3.877m). Basic/diluted EPS: EUR -0.05.

Market environment and hedging

Q2 2025 German PV prices traded between EUR 18–30/MWh (Q2 2024: 32–46 EUR/MWh) and the market recorded 460 hours of negative prices. The adverse market price environment was largely offset by hedging (electricity price swaps) on newer assets and favourable weather which boosted production.

Portfolio and near‑term investment

IPP portfolio capacity reached 494 MWp as at 30 June 2025 (close to 500 MWp). The Group will invest approximately EUR 8m in H2 2025 to complete the Reuden‑Süd project after securing stakeholder agreements and control of the project company.

Cash flow, liquidity and financing

Net cash from operating activities in H1 2025: EUR 21.4m. Cash and cash equivalents at 30 June 2025: EUR 85.8m (up from EUR 82.1m at 1 January). Current financial assets were EUR 8.0m. The company continued to reduce short‑term liabilities (current liabilities fell vs year‑end).

Balance sheet and capital measures

Total equity at 30 June 2025: EUR 233.8m. Management notes a carrying amount of EUR 2.65 per share and continues the share buyback programme (initiated 3 April 2025). Roadmap 2030 includes an annual share repurchase target of EUR 8m (≈ EUR 0.10/share).

Strategy (Roadmap 2030)

Targets include adding 10 MWp of assets per year, installing 15 MW / 30 MWh of battery capacity per year, and annual share repurchases of EUR 8m — indicating continued focus on steady asset growth, storage rollout and shareholder returns despite current market headwinds.