Premier Energy Group reports continued solid growth in the first half of 2025 (H1). Normalized revenue increased by 49% year-on-year to EUR 797.5 million, while normalized EBITDA increased by 21% to EUR 64.6 million. Excluding normalization, mainly related to tariff deviations in the Republic of Moldova, revenue increased by 63% to EUR 835.5 million, while adjusted EBITDA more than tripled to EUR 102.6 million. Net profit was 61.8 million euros in H1 2025, compared to 19.9 million euros in H1 2024 (+310%), while normalized net profit amounted to 31.6 million euros, reflecting an increase of 23% compared to the previous year.
“Our performance in the first half of 2025 demonstrates the resilience and scalability of our integrated model. We recorded a 236% increase year-on-year in our owned renewable energy production, reflecting both sustained investments in new capacity and the successful integration of acquisitions completed last year. At the same time, our portfolio diversification, which includes the generation, distribution and supply of electricity and natural gas, ensured solid growth in our business, despite market challenges such as high balancing costs and volatile wind conditions. With over 153 MW of renewable projects under construction and another 175 MW in the development phase, we remain confident in our path of steady growth,” said José Garza, CEO of Premier Energy Group.
Renewable energy production reached 231 GWh in H1 2025, compared to 69 GWh in H1 2024. Consequently, the Group recorded a 236% increase in its owned renewable electricity production capacity, supported by the acquisition of new wind assets in 2024, the commissioning of the balancing and cogeneration plant, as well as the completion of several solar parks. The renewable energy segment generated revenues of EUR 90 million, up 3% year-on-year, while EBITDA amounted to EUR 13 million, reflecting the impact of higher balancing costs, increased intraday price volatility and weaker wind conditions in Q1 2025.
Electricity supply volumes increased by 36% year-on-year, reaching 4,065 GWh in H1 2025. With the integration of Premier Energy Furnizare, the Group consolidated its fourth position among the top electricity suppliers in Romania, serving over 1.3 million customers locally. The electricity supply activity generated revenues of EUR 228 million and an EBITDA of EUR 8.5 million in the first six months of 2025.
The natural gas division recorded a 21% increase in revenues, reaching 205 million euros in H1 2025. Distributed volumes increased by 18% compared to the previous year, reflecting the network expansion and growing demand, while the Regulated Asset Base (RAB) approved by ANRE reached 94 million euros, up 25% compared to 2024. The division reported an EBITDA of 18 million euros, slightly below last year’s level, amid exceptional opportunities on the wholesale market capitalized in Q2 2024, which were not fully reflected in 2025.
In the Republic of Moldova, Premier Energy consolidated its position as the largest distributor and supplier of electricity. Normalized revenues of the Moldovan electricity segment increased by 38% year-on-year to EUR 275 million, supported by higher tariffs and the contribution of 33 MW of solar power plants commissioned in 2024 and early 2025. Normalized EBITDA of the segment amounted to EUR 27 million, up 17% year-on-year. Premier Energy reports normalized financial results to reflect tariff deviations and the impact of energy supplied but not invoiced in the Republic of Moldova, which can temporarily generate surpluses or deficits compared to the regulated profitability. In H1 2024, reported results were affected by insufficient recovery, while in H1 2025 lower than anticipated acquisition costs generated a surplus, resulting in a reported EBITDA of EUR 65 million at the segment level, compared to normalized EBITDA of EUR 27 million. Presenting both reported and normalized results ensures consistency and comparability between periods and highlights the intrinsic regulated profitability of the business.
“The financial results highlight the balance between growth and discipline. Group normalized EBITDA increased by 21% to EUR 65 million, supported by higher renewable energy volumes, improved margins in the electricity supply segment and stronger contributions from regulated distribution. We ended the period with net debt of EUR 161 million, as well as EUR 43 million in net working capital and cash, maintaining a relatively prudent level of overall net debt. This liquidity provides us with the flexibility to continue investing in renewable energy generation and infrastructure, while managing legislative and fiscal changes in the markets in which we operate. With a normalized net profit up 23% compared to last year, we are delivering on our priorities both operationally and financially, and the results are in line with the objectives set for this year. Based on current trends, management estimates full-year 2025 normalized revenues of of around 1.6 billion euros and a normalized EBITDA of around 120 million euros,” added Peter Stohr, CFO of Premier Energy Group.
The Group ended H1 2025 with a net debt of 161 million euros, but with an adjusted net debt position of -43 million euros, indicating an overall cash and working capital surplus. The strong balance sheet supports both growth investments and dividend distribution. In July 2025, Premier Energy distributed total dividends to shareholders of 15 million euros, equivalent to 0.12 euros per share.
