High Activity Levels Combined with Solid Financial Performance Mark the Period
Eurowind Energy today announced a very satisfactory financial result for the second half of 2024. The Group, which has aligned its financial year with the calendar year, reported results for the period from July 1, 2024, to December 31, 2024.
Eurowind Energy achieved a revenue of EUR 99.4 million, an EBITDA of EUR 200.6 million, a profit before tax of EUR 130 million, and a net profit of EUR 102 million – all within just six months.
Jens Rasmussen, CEO of Eurowind Energy, commented:
"This six-month period was a 'typical Eurowind Energy period.' We saw significant progress across our business and solid profitability. It is crucial that we deliver daily on our aspiration to be a company that not only generates great ideas but also executes them systematically and commercially. Our performance in the second half of 2024 is a testament to this commitment."
The impressive results were driven by strong power prices in key markets during Q4, steady progress in construction projects, and a partial divestment of selected wind farms.
Gert Vinther Jørgensen, Chairman of the Board of Directors, added:
"In a more complex renewable energy market, Eurowind Energy delivers an impressive result. The progress confirms the strategy of investing in parks that combine wind and solar energy, and of maintaining a broad presence across Europe and the USA. This positions Eurowind Energy for further growth in the coming years."
During this period, Eurowind Energy had nearly 900 MW under construction, and its development pipeline expanded by 5.5 GW, reaching a total of 59.4 GW.
Looking ahead to 2025, the positive trend from the second half of 2024 has continued. Eurowind Energy plans to construct up to 50 new energy parks across Europe, adding almost 1 GW of new green capacity to the construction portfolio. The Group expects EBITDA to reach EUR 120-240 million for the full year of 2025, while profit before tax is projected at EUR 60-90 million. The wide range in expectations is connected to potential farm downs of energy facilities.
"We have begun well in 2025, and we will focus on getting things done, while ensuring that we are profitable. The ability to make a profit and build an attractive pipeline of development projects is what will allow us to maintain an aggressive growth strategy towards 2030," said Jens Rasmussen.
Facts about Eurowind Energy
Eurowind Energy A/S is a Danish company that specializes in developing, building and operating renewable energy parks. Eurowind Energy has activities within wind, solar, hydrogen, biogas, power to heat and battery solutions. Eurowind Energy A/S was founded in 2006 and has since grown to be a significant player in the renewable energy sector with more than 650 employees and operations in 16 markets in Europe and the USA.
Further information:
Joachim Steenstrup, Global Head of External Affairs & Strategy, +45 5624815, [email protected]
