Press Releases — 1Q25 Financial Results: Grenergy’s net profit rises fivefold to €32.4 million

Grenergy has started 2025 with exceptional results, multiplying its net profit by five in the first quarter to 32.4 million euros. EBITDA stood at 62 million euros, experiencing growth of 165%, while revenues reached 237 million euros (+116%). This growth is due to its recent asset rotation in Chile and the increase in sales in its Energy division.

CAPEX, or investment, primarily allocated to hybridization projects, amounted to 165 million euros at the end of the first quarter of 2025, representing an increase of 124%. Total debt stood at 726 million euros, with a leverage ratio of 3.7x, which is reduced to 1.2x on a pro-forma basis after the company’s latest asset rotations.

Additionally, following the approval at the General Shareholders Meeting of a capital reduction, the company has completed its share buyback program, as in previous years. This time, 2.44% of the current share capital was acquired, with a total investment of 27 million euros, at an average price of 37.7 euros per share.

Grenergy continues to consolidate its position in the market with significant corporate milestones. During the first quarter of the year, the company formalized new power purchase agreements, including a 24×7 PPA for 0.5 TWh for 15 years with Codelco, the Chilean state company and the world’s leading copper producer. It also signed a long-term daytime PPA with a global energy company in Chile for 390 GWh.

During this period, Grenergy has made significant progress in its flagship battery project in Chile, Oasis de Atacama. It has secured financing of 324 million for Phase 4 (Gabriela). In addition, Quillagua 1 is already in operation with BESS systems, reaching high levels of efficiency. At the same time, it has just announced a new battery supply agreement with BYD Energy Storage for 3.5 GWh for Phase 6 of Oasis de Atacama (Elena), the largest contract of its kind in the company’s history.

In terms of sustainability, Grenergy maintains its AAA rating from MSCI, placing it among the 15 most sustainable companies worldwide. This recognition is in addition to its position in the top 16% of the Utilities sector according to S&P Global. The company has also published its new Climate Change Policy and its Sustainability Report in accordance with the CSRD directive.

The company will present its new Strategic Plan 2025-2027 on May 28 during its Capital Markets Day in London, where it will detail its roadmap for the coming years.

“We have quintupled our results, reaffirming our ability to execute utility-scale projects, the efficient management of the energy we produce, and the success of our asset rotation strategy. Current events confirm that our pioneering commitment to BESS has been more than successful. At Grenergy, we continue to move forward with new challenges to consolidate our leadership in storage, which we will present at our next Capital Markets Day.”