Polaris Renewable Energy Announces Q2 2025 Results
Rhea-AI Summary
Polaris Renewable Energy (TSX:PIF) reported strong Q2 2025 financial results, with consolidated energy production reaching 215,797 MWh, a 15% increase from the previous year. The company generated $21.6 million in revenue and $15.4 million in Adjusted EBITDA, up from $18.7 million and $13.3 million respectively in Q2 2024.
Net earnings were $2,203 ($0.10 per share), compared to $985 ($0.05 per share) in Q2 2024. The company maintained strong liquidity with $90.7 million in cash position and declared a quarterly dividend of $0.15 per share, payable August 22, 2025.
Growth was primarily driven by the newly acquired Punta Lima Wind Farm and improved hydrological conditions in Peru, while operations in Nicaragua showed slightly lower production due to well behavior issues.
Positive
- Revenue increased by 15.7% to $21.6 million in Q2 2025
- Adjusted EBITDA grew 15.8% to $15.4 million
- Net earnings more than doubled to $2,203 ($0.10 per share)
- Energy production increased 15% year-over-year to 215,797 MWh
- Strong cash position of $90.7 million maintained
- Cost and G&A management improved year-over-year despite inflation
Negative
- Nicaragua operations showed lower production due to well behavior issues
- System-wide curtailment issues persist in Dominican Republic operations
- Vista Hermosa Solar Park production decreased due to technical issues
- Total assets decreased from $662,105 to $549,594 compared to December 2024
News Market Reaction
On the day this news was published, RAMPF declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
TORONTO, ONTARIO / ACCESS Newswire / July 31, 2025 / Polaris Renewable Energy Inc. (TSX:PIF) ("Polaris Renewable Energy" or the "Company"), is pleased to report its financial and operating results for the three and six months ended June 30, 2025. This earnings release should be read in conjunction with the Company's condensed consolidated interim financial statements and management's discussion and analysis, which are available on the Company's website at www.PolarisREI.com and have been posted on SEDAR+ at www.sedarplus.ca. The dollar figures below are denominated in US Dollars unless noted otherwise.
2025 HIGHLIGHTS
Second quarter consolidated energy production totaled 215,797 MWh, representing a
15% increase compared to 186,886 MWh in the same quarter last year. The increase is mainly attributable to stronger hydrological conditions in Peru and the contribution from the Puerto Rican wind farm, acquired on March 3, 2025, which did not contribute to consolidated energy production in the comparative quarter of 2024.The Company generated
$21.6 million in revenue from energy sales for the three months ended June 30, 2025, compared to$18.7 million in the same period in 2024.Adjusted EBITDA was
$15.4 million for the three-month period ended June 30, 2025, compared to$13.3 million in the same period in 2024.Net earnings attributable to shareholders of the Company for the quarter ended June 30, 2025 were
$2,203 or$0.10 per share - basic, compared to$985 or$0.05 per share - basic in the comparative period of 2024.For the six months ended June 30, 2025, the Company generated
$16.5 million in net cash flow from operating activities, ending with a cash position of$90.7 million , including restricted cash.Cost and G&A management improved year-over-year, (adjusting for Punta Lima Wind Farm acquisition) underscoring strong cost discipline and operational efficiency amid continuing inflationary pressure.
Maintaining a quarterly dividend remains a goal for the Company. In respect of the second quarter of 2025, the Company declared and expects to pay a quarterly dividend of
$0.15 per outstanding common share on August 22, 2025.
OPERATING AND FINANCIAL OVERVIEW
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, 2025 | June 30, 2024 | June 30, 2025 | June 30, 2024 | |||||||||||||
Energy production | ||||||||||||||||
Consolidated Power MWh | 215,797 | 186,886 | 432,289 | 400,320 | ||||||||||||
Financials | ||||||||||||||||
Total revenue | $ | 21,642 | $ | 18,702 | $ | 41,929 | $ | 39,334 | ||||||||
Net earnings (loss) attributable to owners | $ | 2,203 | $ | 985 | $ | (8,238 | ) | $ | 5,331 | |||||||
Adjusted EBITDA | $ | 15,429 | $ | 13,319 | $ | 30,442 | $ | 29,060 | ||||||||
Net cash flow from operating activities | $ | 4,764 | $ | 8,297 | $ | 16,531 | $ | 16,984 | ||||||||
Per share | ||||||||||||||||
Net earnings (loss) attributable to owners - basic and diluted | $ | 0.10 | $ | 0.05 | $ | (0.39 | ) | $ | 0.25 | |||||||
Adjusted EBITDA - basic | $ | 0.73 | $ | 0.63 | $ | 1.44 | $ | 1.38 | ||||||||
Balance Sheet | As at June 30, 2025 | As at | ||||||||||||||
Total cash and cash equivalents (Restricted and Unrestricted) | $ | 90,663 | $ | 217,882 | ||||||||||||
Total current assets | $ | 103,402 | $ | 228,563 | ||||||||||||
Total assets | $ | 549,594 | $ | 662,105 | ||||||||||||
Current and Long-term debt | $ | 217,789 | $ | 328,349 | ||||||||||||
Total liabilities | $ | 304,850 | $ | 402,579 | ||||||||||||
During the three months ended June 30, 2025, quarterly consolidated power production was
Production in Ecuador and Peru both exceeded prior-year levels, supported by favorable rainfall patterns. In contrast, production in Nicaragua was slightly lower versus the second quarter of 2024 , due to recurring but unpredictable well behavior that can intermittently impact generation.
The Canoa 1 facility in the Dominican Republic generated
Production at the Vista Hermosa Solar Park in Panama was slightly lower compared to the second quarter of 2024, primarily due to isolated technical issues, now fixed, with the internal transmission line and an unusually prolonged rainy season, which led to lower solar irradiation.
In contrast, the Punta Lima Wind Farm delivered strong results in Q2 2025, exceeding management's expectations, reflecting both favorable wind conditions and solid operational performance.
"We are pleased to report another quarter of strong operational and financial performance. The
Our ability to grow revenue and adjusted EBITDA, while managing costs effectively, positions us well in the current inflationary environment. With over
We continue to evaluate options to complement our generation portfolio with battery storage projects, particularly in jurisdictions where storage can enhance grid stability and improve revenue certainty. As we move into the second half of the year, we remain focused on operational execution and maintaining our quarterly dividend", said Marc Murnaghan, Chief Executive Officer of Polaris Renewable Energy.
About Polaris Renewable Energy Inc.
Polaris Renewable Energy Inc. is a Canadian publicly traded company engaged in the acquisition, development, and operation of renewable energy projects in Latin America & the Caribbean. We are a high-performing and financially sound contributor to the energy transition.
The Company's operations include a geothermal plant (82 MW), four run-of river hydroelectric plants (39 MW), three solar (photovoltaic) projects in operation (35 MW) and an onshore wind park (26 MW).
For more information, contact:
Investor Relations
Polaris Renewable Energy Inc.
Phone: +1 647-245-7199
Email: info@PolarisREI.com
SOURCE: Polaris Renewable Energy Inc.
View the original press release on ACCESS Newswire
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