Photon Energy achieved consolidated sales revenue of EUR 89.2 million in 2024 (+26.3% YoY). At the same time, EBITDA for 2024 was about EUR 8.7 million (+135.5% YoY), but the net loss for the reported period was EUR 13.6 million, compared to a net loss of EUR 15.7 million in 2023, the company’s report shows.
Photon claims that regulations in Romania led to a drop in energy prices in the fourth quarter (Q4), affecting the company’s results.
However, the company reported overall increasing results for 2024.
In contrast, in the final quarter (Q4) of 2024, revenues reached EUR 25 million (+124.1% YoY). EBITDA was EUR -1.13 million compared to EUR -1,044 million in the corresponding period of 2023. Net loss was EUR 6.5 million, compared to EUR 6.155 million in Q4, 2023.
“2024 was a year of dynamic revenue growth and significant EBITDA improvement, primarily driven by higher electricity sales, strong capacity market revenues, and a substantial increase in PV technology sales. However, declining margins in PV component trading due to inventory liquidation, one-time restructuring costs, and losses from asset sales in Australia negatively impacted our financial performance at subsequent levels. We anticipate that 2025 will create opportunities to further strengthen our market position and improve our financial results, although the pace of this growth will depend on various market and regulatory factors,” said Georg Hotar, CEO of Photon Energy Group.
