Neoen SA

Latest Results (18.11.2025):

Neoen SA has reported its unaudited estimated consolidated full-year financial results for 2024. The company achieved consolidated revenue of €533.1 million—up 2% at both current and constant exchange rates—and an adjusted EBITDA of €479.4 million, which increased by 1% compared to the previous year. Despite these steady operational figures, adjusted net income dropped by 72% to €22.4 million. Neoen’s secured portfolio grew to 10.8 GW, with 1.9 GW of new projects awarded over the year and a significant capacity boost to 5,846 MW. Furthermore, strong liquidity exceeding €900 million reinforces its robust financial foundation as the company looks ahead to 2025.

Revenue and EBITDA Performance

For the 2024 full-year period, Neoen SA’s consolidated revenue reached €533.1 million, up 2%, while its adjusted EBITDA climbed by 1% to €479.4 million, reflecting consistent operating performance despite shifts in revenue mix and contractual transitions.

Decline in Adjusted Net Income

Despite stable topline and EBITDA figures, adjusted net income fell sharply by 72% to €22.4 million, a result influenced by adjustments relating to the fair value of energy derivatives and associated tax effects.

Strength in Liquidity and Capital Position

Neoen maintained a robust liquidity position as of December 31, 2024, with total liquidity exceeding €900 million, including an excess balance of over €500 million and €400 million in undrawn credit facilities, which supports its strategic objectives and future investments.

Expansion of Project Portfolio and Operational Capacity

In 2024, Neoen SA expanded its secured portfolio to 10.8 GW by adding 1.9 GW in new projects, while the operational capacity grew by 863 MW compared to the end of 2023. The expansion included key project launches in Australia, Europe, and North America, reinforcing its role in the renewable energy transition.

Outlook and Strategic Initiatives

Looking ahead to 2025, Neoen SA reaffirmed its strategic targets with an anticipated adjusted EBITDA of over €700 million and a goal to achieve 10 GW in total capacity either in operation or under construction. Additionally, the recent initiation of a public simplified tender offer following a significant shareholding change underscores Neoen’s evolving capital structure and commitment to long-term value creation.