Corrected: Sweden's Orron Energy Q2 revenue from power generation rises
CORRECTED-Sweden's Orron Energy Q2 revenue from power generation rises Corrects headline to say revenue from power generation up, removes reference to "project sales" in headline; Corrects first bullet of Overview section to specify revenue from power generation rose; Corrects Key Details table to specify revenue metric
Overview
Sweden renewable energy firm's Q2 revenue from power generation rose yr/yr, but company posted a net loss
Company agreed to combine Nordic platform (excluding Karskruv) with Cloudberry, becoming largest shareholder
Q2 EBITDA for continuing operations turned positive, supported by project sales in Germany
Outlook
Orron Energy expects net debt position close to zero after Cloudberry transaction closes
Company expects further proceeds of MEUR 7.7 from German project sales, contingent on milestones
Finalisation of UK solar transaction may await grid details, expected by early 2027
Result Drivers
PROJECT SALES - Revenue benefited from the sale of a 91 MW solar project in Germany and additional project milestones
HIGHER ELECTRICITY PRICE - Achieved electricity price at Karskruv rose to EUR 70 per MWh, supporting results
LEGAL COSTS - Significant legal costs related to the Sudan case weighed on results, but ongoing costs have now reduced
Company press release: ID:nGNE4w86CK
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue from power generation |
| EUR 2.50 mln |
|
Q2 EPS |
| EUR 0 |
|
Q2 Net Result |
| -EUR 1.20 mln |
|
Q2 EBIT |
| -EUR 500,000 |
|
Q2 EBITDA |
| EUR 600,000 |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the independent power producers peer group is "buy"
Reuters Recommended Reads
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Aug 4 - Vattenfall wins contracts to build two offshore wind farms in Danish waters
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)