Energy conglomerate, Premier Energy Group, announces EUR 1.3 billion in annual normalized revenue and EUR 103 million in normalized EBITDA for the year 2024.
Premier Energy Group, a leading energy provider in Southeast Europe, has announced a significant 45% year-over-year increase in normalized revenue to EUR 1,263 million in 2024. This growth was driven by strategic investments in expanding solar cell and module manufacturing capacity, and the introduction of next-generation high-efficiency solar technologies.
The company's normalized EBITDA for 2024 stood at EUR 103 million, reflecting disciplined cost management and operational efficiencies. This is a 14% increase compared to 2023. The 45% year-over-year increase in normalized revenue was primarily driven by strong growth in the manufacturing of solar cells and modules, including the launch of one of India's first TOPCon (Tunnel Oxide Passivated Contact) cell manufacturing plants.
The revenue growth positively impacted the company’s EBITDA and net profit. For the quarter ending June 2025 compared to the same period in 2024, the company reported an 11.26% revenue increase and a 6.84% increase in EBIT (earnings before interest and taxes), along with a 10.79% increase in profit after tax (PAT) to Rs 308 crore. The EBIT margin improved from 17.4% in June 2024 to 23.51% by June 2025, indicating better profitability and cost management amid increased sales.
In the renewable energy segment, Premier Energy expanded its portfolio in 2024, increasing owned production by 63% year-over-year, driven by acquisitions. However, the segment's profitability was impacted by persistently high balancing costs.
Premier Energy's operations in Moldova remained resilient despite regulatory challenges. After normalizing tariff deviations and changes in tariffs for unbilled energy, normalized revenue in Moldova increased by 8% year-over-year to EUR 413 million. The electricity distribution and supply business in Moldova recorded a 12% decline in IFRS revenues, reaching EUR 369 million, largely due to tariff adjustments.
The integration of Premier Energy Furnizare, the former CEZ Vânzare, brought an additional 1.3 million electricity and natural gas customers under the Group’s umbrella. Premier Energy Furnizare generated EUR 279 million in revenue and EUR 7 million in EBITDA from the moment of acquisition until year-end in 2024.
Peter Stohr, CFO of Premier Energy Group, commented on the company’s strong financial performance in 2024. "We are pleased with our financial results for the year, which reflect our strategic investments and operational efficiencies," he said.
José Garza, CEO of Premier Energy Group, stated that the company navigated complexities in the energy market despite price volatility, higher than historical balancing costs, and shifting regulatory conditions. "We are committed to continuing our growth trajectory while maintaining a focus on cost management and operational efficiencies," he added.
Despite the expansion, Premier Energy maintains a highly liquid financial position, with 51 million euros of adjusted for working capital net debt and a strong cash balance.
In April 2024, Premier Energy acquired an 18 MW wind plant in Drânceni, Romania, followed by the 80 MW Mihai Viteazu wind farm in July. These acquisitions contribute to the company's renewable energy portfolio expansion.
On a normalized basis, the illustrative normalized net profit stood at EUR 43 million, representing a 5% year-over-year increase despite substantially higher interest costs.
In summary, Premier Energy's 45% revenue growth was primarily driven by strategic investments in expanding solar cell/module manufacturing capacity and introducing next-gen technology lines, leading to higher production and sales volumes. This growth translated into substantial improvements in EBITDA and net profit margins, showcasing the company’s successful scale-up in a competitive renewable energy market.
The strategic investments in expanding solar cell and module manufacturing capacity and the introduction of next-generation high-efficiency solar technologies, as mentioned in the text, signify Premier Energy Group's active participation within the renewable energy sector of the industry. Furthermore, these investments have significantly contributed to the growth in finance, as evidenced by the 45% year-over-year increase in normalized revenue and the substantial improvements in EBITDA and net profit margins.
