Grenevia improves results. Rebound seen in two segments

• In the Grenevia group, in the first quarter of 2025, year-on-year, external revenues improved in the E-mobility and RES segments, with revenues declining in the Famur and Power segments.
• - Famur segment revenues in the first 3 months of 2025 amounted to PLN 282 million and decreased by 10% compared to the comparable period of 2024. The decrease in revenues is mainly the result of the deteriorating situation in the mining sector - Grenevia reported.
• At the end of March 2025, the estimated total capacity of Grenevia group projects with connection conditions was approximately 5.6 GW, including PV - approximately 1.7 GW, energy storage - approximately 3.2 GW and wind projects - approximately 0.7 GW.

Grenevia Group's revenues in the first quarter of 2025 increased to PLN 488 million, compared to PLN 471 million a year earlier.

Geographically, the group’s largest market is Poland – PLN 426 million in sales in Q1 2025 compared to PLN 416 million in sales in Q1 2024.

In Grenevia, in Q1 2025, year-on-year, external revenues improved in the E-mobility segment (PLN 146 million versus PLN 99 million) and RES (PLN 31 million versus PLN 11 million).

In Q1 2025, the Grenevia Group increased the pool of projects with grid connection conditions by 0.6 GW

Commenting on the situation in the RES segment, the company reported that at the end of March 2025, the estimated total capacity of PV projects in the portfolio at various stages of development on the Polish market increased by approximately 1 GW compared to the end of 2024 and amounted to approximately 8.9 GW, including 191 MW of PV farm capacity connected to the power grid.

- At the end of March 2025, the estimated total capacity of projects with connection conditions was ~5.6 GW, which means an increase of about 0.6 GW compared to the end of 2024. In the period under review, the largest increase occurred in energy storage projects by about 0.4 GW, followed by PV projects and wind farm projects - Grenevia reported.

The approximately 5.6 GW of total capacity of projects with connection conditions consists of PV projects - approximately 1.7 GW PV, energy storage projects - approximately 3.2 GW and wind projects - approximately 0.7 GW.

In the remaining two main segments, in the first quarter of 2025, year-on-year, there was a decrease in external revenues - in the Famur segment to PLN 282 million from PLN 312 million, and in the Power Engineering segment to PLN 26 million from PLN 48 million.

At the end of March 2025, the Famur segment backlog amounted to PLN 1,074 million

The largest business segment of the Grenevia Group remains the Famur segment, operating for mining and wind energy , under the Famur and Famur Gearo trademarks, respectively.

Grenevia reported that at the end of March 2025, the backlog of the Famur segment (deliveries of machinery and equipment and leases in accordance with the terms of contracts) amounted to PLN 1,074 million.

- Famur segment revenues in the first 3 months of 2025 amounted to PLN 282 million and decreased by 10% compared to the comparable period of 2024. The decrease in revenues is mainly the result of the deteriorating situation in the mining sector - Grenevia reported.

In Q1 2025, the Group achieved gross sales profit of PLN 181 million, down 10% compared to Q1 2024.

The Grnevia Group achieved PLN 80 million of net profit in the first quarter of 2025, compared to PLN 40 million of net profit a year earlier

- Gross profit from sales includes gross profit from the sale of photovoltaic farms classified as fixed assets, which in the first quarter of 2025 amounted to PLN 21 million compared to PLN 58 million in the same period in 2024 - the company reported.

Operating profit for the first 3 months of 2025 amounted to PLN 110 million compared to PLN 71 million in the comparable period, in which impairment losses of PLN 56 million were recognized.

The Grenevia Group’s EBITDA in the first quarter of 2025 amounted to PLN 172 million, compared to PLN 138 million a year earlier.

The group's net profit for the 3-month period of 2025 amounted to PLN 80 million, compared to PLN 40 million in the comparable period. Net profit attributable to Grenevia shareholders reached PLN 80 million in Q1 2025, compared to PLN 55 million a year earlier.

The largest shareholder of Grenevia is TDJ Equity I - 79.36 percent of votes at the general meeting (as of March 14, 2025).