Neoen SA

NEOEN

Equity

ISIN FR0011675362 / Valor 23154245

Euronext - Euronext Paris (2025-04-04)

EUR 39.00%

Neoen SA
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About company

Neoen SA, established in 2008, is a prominent independent producer of renewable energy, specializing in solar power, wind power, and energy storage solutions. The company is actively involved in the global energy transition, providing cost-effective and sustainable energy across four continents. Neoen's operations are particularly focused on onshore wind farms, with significant projects underway in countries such as Australia, France, Finland, Sweden, and Ireland. As a publicly traded entity on the Euronext Paris market, Neoen is committed to delivering competitive green energy solutions, leveraging its expertise to expand its portfolio and support the shift towards renewable energy sources.

Summarized from source with an LLMView SourceSector: Business Services

Key financials (FY‑2024)

Revenue €533.1m (+2% y/y); adjusted EBITDA €479.4m (+1%); adjusted EBIT €263.4m (‑11%); adjusted consolidated net income €22.4m (‑72%). Adjusted EBITDA margin ~90% (vs. 91% in 2023). All figures unaudited.

Q4 2024 snapshot

Q4 revenue €154.7m, up 22% vs. Q4‑2023. Storage revenue tripled in the quarter (Q4 storage €40.8m, +211%) driven by entry into service of Collie and Western Downs battery stages.

Storage momentum

Storage revenue rose 66% for the year to €95.0m; storage adjusted EBITDA doubled to €108.9m — reflecting new large batteries (Collie, Western Downs, Blyth, Capital) and stronger arbitrage/frequency income.

Operations and pipeline

Assets in operation: 5,846 MW (+863 MW y/y). Secured portfolio totaled 10.8 GW (assets in operation, under construction and awarded); total portfolio (secured + advanced pipeline) ~31.4 GW. Electricity generation 8.4 TWh (+12%).

Liquidity and cash

Total liquidity >€900m (company statement): cash €534.7m at 31‑Dec‑2024, with >€500m excess balance and ~€400m undrawn credit facilities per the release.

Debt and leverage

Gross debt €4,899.6m; reported net debt (excluding two temporary effects) €4,264.0m. Net debt / adjusted EBITDA ~8.9x (vs. 6.1x at end‑2023), reflecting rapid build‑out and project finance drawdowns.

Drivers of margin and earnings change

Adjusted EBITDA held steady (+1) due to contributions from new assets and higher liquidated damages; adjusted net income declined sharply because of higher net financial expense (cost of debt up, other financial expenses) and increased non‑current operating expenses (transaction costs, impairments).

Corporate and strategic items

Brookfield Renewable Holdings acquired a majority stake in late Dec‑2024 and launched a simplified public tender offer (opened 13‑Feb‑2025, expected close 13‑Mar‑2025). Neoen announced a major AUD1.4bn Australian financing and a AUD950m agreed divestment of Victorian assets to HMC Capital (to close in 2025).

2025 outlook

Neoen reiterates targets: adjusted EBITDA >€700m in 2025 and 10 GW of capacity in operation or under construction during 2025. Guidance incorporates current commissioning schedules and spot‑price views.

Summarized from source with an LLMView Source

Key figures

40.0%1Y

-2.50%3Y

35.6%5Y

Performance

7.09%1Y

28.6%3Y

34.7%5Y

Volatility