Solaria Energía y Medio Ambiente (SLR) Q2 2026 earnings summary

Executive summary

• Achieved record H1 2026 results with revenue up 44% to €223.3 million, EBITDA up 50% to €210.1 million, and net profit up 52% to €124.9 million, driven by strong production and infrastructure sales.

• Energy production increased 51% year-over-year to 1,717 GWh, with significant growth in infra and data center business.

• Infrastructure sales surged 355% year-over-year, significantly boosting total sales.

• Major project milestones included environmental approvals for large solar and battery projects in Italy and Spain, and new long-term PPAs for solar and storage.

• Strong outlook for H2 2026, supported by higher energy prices, expanded merchant and battery capabilities, and reaffirmed multi-year EBITDA targets.

Financial highlights

• Total revenues reached €223.3 million (+44% YoY), with EBITDA at €210.1 million (+50% YoY) and EBIT at €180.0 million (+55% YoY).

• Net profit for H1 2026 was €124.9 million, a 52% increase year-over-year.

• Cash and cash equivalents rose to €209.4 million, up 186% from FY 2025.

• Net finance expense increased to €26.1 million due to new plant financing.

• Investment exceeded €276 million in H1 2026.

Outlook and guidance

• Reaffirmed EBITDA targets: €331 million for 2026, €456 million for 2027, and €521 million for 2028.

• H2 expected to accelerate earnings growth, supported by higher merchant prices and new capacity additions.

• 3.6 GW in operation targeted by year-end 2026, with significant BESS deployment underway.

• Capital efficiency and cost efficiency program underway, targeting €7 million in annualized savings.

• Capital Markets Day scheduled for November 2026 to outline further growth plans.