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North Atlantic Energies (NAE) investor relations material
North Atlantic Energies H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong operational performance in H1 2026, with a 28% increase in crude processed despite a major planned maintenance shutdown.
Adjusted EBITDA rose to €178M, up €96M year-over-year, reflecting improved margins but offset by higher energy costs.
Net loss narrowed to €30M from €85M in H1 2025, impacted by exceptional financial charges linked to inventory financing and revaluation.
Authorized to increase diesel and kerosene output by 10% to support national supply security.
Financial highlights
Revenue increased 1% year-over-year to €5.9B, driven by higher oil prices despite lower sales volumes.
Adjusted EBITDA reached €178M, up from €82M in H1 2025.
Operating profit was €214M, reversing a €158M loss in H1 2025, aided by €148M positive inventory effects.
Net financial result was a €267M loss, including €119M in inventory financing costs and €181M from fair value revaluation.
Net loss improved to €30M from €85M year-over-year.
Outlook and guidance
Continues to adapt operations to market volatility and energy transition, focusing on asset optimization and competitiveness.
Emphasizes need for stable economic, fiscal, and regulatory conditions to support ongoing transformation.
- Adjusted EBITDA up to €179M, but net loss and revenue drop amid asset sales and impairments.NAE
H2 2025 - Net loss of €85m and 35% revenue drop in H1 2025 amid refinery sale, shutdown, and pending sale.NAE
H1 2025 - Net income and EBITDA fell sharply amid lower throughput, asset sale, and strong net cash of €1.1B.NAE
H1 2024 - Profits fell sharply but Esso S.A.F. proposes a record €53/share dividend for 2024.NAE
H2 2024
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Next North Atlantic Energies earnings date
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