European Energy has reported its strongest-ever first-half results, with adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rising to €99 million in the six months to June 2025, compared with a €2 million loss during the same period a year earlier.
Pre-tax profit increased to €45 million, up from a €50 million loss, the Danish renewable energy developer said on Thursday. After accounting for a one-off arbitration-related expense in Italy, reported EBITDA stood at €93 million, with pre-tax profit at €36 million.
“With record construction levels, a major power-to-x milestone, and accelerating investments in energy storage, European Energy continues to demonstrate the strength of our business model,” Chief Executive Knud Erik Andersen said in a statement.
Revenue was supported by electricity production of 1,063 gigawatt-hours (GWh), up 4% year-on-year, which the company said equated to avoiding more than 255,000 tonnes of CO₂ emissions.
The company highlighted the completion of the world’s largest market-based e-methanol facility in Kassø, Denmark, as a key development in its power-to-x strategy. The first delivery of e-methanol was made to Laura Maersk, the world’s first container vessel powered by the synthetic fuel.
In green hydrogen, European Energy took a final investment decision to expand the Måde Green Hydrogen site with an additional electrolyser unit.
Storage activities are also advancing, with a test system set to be commissioned in Denmark this year, followed by the construction of 122MW/400MWh of battery capacity. A pipeline of over 15GWh is being developed across Europe, Australia and Poland, with the company targeting 1GWh of installed capacity in the Nordics and Baltics by 2027.
Construction reached a record 1.7 gigawatts (GW) at the mid-year point, covering wind, solar, hydrogen, and storage projects—marking the fourth consecutive year of growth in development activity.
The company also divested 1,252MW of renewable assets, including six operational wind farms in Poland.
“While the investment environment remains challenging, our diversified portfolio, global reach, and ability to deliver large-scale green projects give us confidence for the future,” Andersen added.
European Energy maintained its full-year EBITDA guidance of €200–300 million but said results are now expected to come in at the lower end of the range, citing weaker-than-expected power sales and delays in project transactions.
