European Energy achieved an EBITDA of more than EUR 78 million and a profit before tax of more than EUR 59 million in the third quarter of 2023. The nine-month EBITDA of EUR 127 million is close to the full calendar year 2022 result.
European Energy has a diversified technology portfolio with onshore and offshore wind assets, solar PV, and Power-to-X. While solar PV and onshore wind dominate the company’s pipeline, European Energy also sees offshore wind is progressing and expects the first in-house developed projects to be ready for a final investment decision by late 2025. European Energy continues to expand its gross pipeline, which exceeded 60 GW by the end of the quarter. The net pipeline has during the last year increased by 11 GW, and for the first three quarters of 2023 more than 1.7 GW of projects has matured into the ready to build phase. European Energy’s 2023 guidance remains unchanged: An EBITDA of EUR 180 million and a profit before tax of EUR 140 million, with a margin of +/- 20 percent.
