7C Solarparken AG

Latest Results (04.02.2026):

7C Solarparken AG — Annual Results for full‑year 2024 (reporting through Q4 2024). The company reported a disappointing 2024 driven by a sharp drop in PV market prices, weak irradiation and a one‑off impairment; portfolio scale and the balance sheet remained intact, with annual power sales around EUR 64.0m and book value at EUR 2.69/share.

Key headline numbers

IPP portfolio (as of 31.03.2025) ~472 MWp (including 28 MWp in construction); reported annual power sales ~EUR 64.0m; reported average capture price shown as EUR 143/MWh; reported book value EUR 2.69/share (EUR 0.14 lower vs 2023).

Profit / one‑offs

2024 described as a disappointing year with an unscheduled write‑off: an impairment related to Reuden Süd (~EUR 5.4m) is highlighted in the presentation as a material one‑off.

Market drivers — prices and volumes

PV spot market value fell to EUR 46/MWh in 2024 (vs EUR 72/MWh in 2023), capture ratio declined (reported materially lower than prior year) and specific PV output was below normal (c.9% below long‑term normal, ~5% below 2023), all reducing revenues.

Negative prices and curtailment

2024 saw a record number of negative day‑ahead hours (459 hours), increasing curtailment/negative‑price risk; the company notes limited direct downside for many assets because of fixed FITs and hedging measures, but market dynamics materially hurt merchant revenue streams.

Hedging, EBITDA and balance sheet

The presentation states EBITDA declined but the balance sheet was “hardly impacted” thanks to hedges/swaps and the company’s financial profile; equity and solvency metrics remain presented as robust (book value per share and equity ratio maintained at comfortable levels).

Portfolio status and development pipeline

Portfolio split: Germany ~410 MWp, Belgium ~63 MWp; 28 MWp of projects in construction (Rötz V, Pirk, Premenreuth, Kohlberg, Nedcargo_II extension). The Reuden Süd project remains under construction but was not retained in the IPP portfolio due to uncertainty.

Outlook / investor message

Outlook 2025 centers on recovery potential from seasonal irradiation and market dynamics, continued use of swaps/hedges to stabilise earnings, and limited near‑term capacity growth — with emphasis on monitoring market prices, negative‑price risk and project completion timing. Summarized from source with an LLMView Source