Edisun Power Faces Challenging Half-Year, Implements New Strategy

Edisun Power Europe AG reported a challenging half-year performance, showing a 16.2% decrease in solar power generation to 61,163 MWh. Revenues declined by 22.8% to CHF 5.57 million, primarily due to adverse weather and low electricity prices. EBITDA fell to CHF 2.5 million, a margin of 45%, while the net loss reached CHF 3.96 million. Despite these setbacks, Edisun acquired SMARTENERGY Group AG, reinforcing its strategy to become a leader in renewable energy investment.

The acquisition valued at CHF 440 million is anticipated to substantially boost Edisun's assets and improve its equity ratio from 26.7% to 67%. Additionally, a new five-year bond at 3.75% interest is set to raise CHF 40 million for developing renewable projects. While production remains volatile, recent heat waves have positively impacted electricity prices in Q3. Focus remains on integrating SMARTENERGY operations and completing strategic projects like "Fuencarral to AI".