Photon Energy Group Sees 26.3% Revenue Rise in 2024

In 2024, Photon Energy Group reported a 26.3% increase in consolidated sales revenue, totaling EUR 89.229 million. EBITDA rose by 135.5% to EUR 8.726 million, despite a net loss of EUR 13.604 million, an improvement from the previous year's loss of EUR 15.750 million. Q4 2024 saw a 124.1% revenue increase, reaching EUR 25.088 million, with EBITDA at EUR -1.130 million.

Key revenue drivers included higher electricity sales and increased PV technology sales. However, results fell short of projections due to inventory liquidation, restructuring costs, and asset sales losses in Australia. Energy market conditions improved, yet Romania's regulatory changes sharply reduced energy prices in Q4.

Operational highlights included electricity generation of 165.5 GWh in 2024, a decline in Q4, commissioning projects in Romania and Hungary, and a significant PV asset sale in Australia.