Polaris Renewable Energy Announces Q2 2025 Results
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.
Polaris Renewable Energy (TSX:PIF) ha riportato solidi risultati finanziari per il secondo trimestre del 2025, con una produzione energetica consolidata di 215.797 MWh, in aumento del 15% rispetto all'anno precedente. La società ha generato un fatturato di 21,6 milioni di dollari e un EBITDA rettificato di 15,4 milioni di dollari, rispetto ai 18,7 milioni e 13,3 milioni rispettivamente del secondo trimestre 2024.
L'utile netto è stato di 2.203 mila dollari (0,10 dollari per azione), rispetto a 985 mila dollari (0,05 dollari per azione) nel secondo trimestre 2024. La società ha mantenuto una solida liquidità con una posizione di cassa di 90,7 milioni di dollari e ha dichiarato un dividendo trimestrale di 0,15 dollari per azione, pagabile il 22 agosto 2025.
La crescita è stata principalmente guidata dalla recente acquisizione del parco eolico Punta Lima e dal miglioramento delle condizioni idrologiche in Perù, mentre le operazioni in Nicaragua hanno mostrato una produzione leggermente inferiore a causa di problemi legati al comportamento dei pozzi.
Polaris Renewable Energy (TSX:PIF) reportó sólidos resultados financieros en el segundo trimestre de 2025, con una producción energética consolidada de 215,797 MWh, un aumento del 15% respecto al año anterior. La empresa generó 21.6 millones de dólares en ingresos y 15.4 millones de dólares en EBITDA ajustado, frente a 18.7 millones y 13.3 millones respectivamente en el segundo trimestre de 2024.
Las ganancias netas fueron de 2,203 mil dólares (0.10 dólares por acción), comparado con 985 mil dólares (0.05 dólares por acción) en el segundo trimestre de 2024. La compañía mantuvo una fuerte liquidez con una posición de efectivo de 90.7 millones de dólares y declaró un dividendo trimestral de 0.15 dólares por acción, pagadero el 22 de agosto de 2025.
El crecimiento fue impulsado principalmente por la reciente adquisición del parque eólico Punta Lima y mejores condiciones hidrológicas en Perú, mientras que las operaciones en Nicaragua mostraron una producción ligeramente inferior debido a problemas relacionados con el comportamiento de los pozos.
폴라리스 재생 에너지 (TSX:PIF)는 2025년 2분기 강력한 재무 성과를 보고했으며, 통합 에너지 생산량은 215,797 MWh로 전년 대비 15% 증가했습니다. 회사는 2,160만 달러의 매출과 1,540만 달러의 조정 EBITDA를 기록했으며, 이는 2024년 2분기의 1,870만 달러 및 1,330만 달러에서 증가한 수치입니다.
순이익은 2,203천 달러(주당 0.10달러)로, 2024년 2분기의 985천 달러(주당 0.05달러)와 비교해 증가했습니다. 회사는 9,070만 달러의 현금 보유로 강력한 유동성을 유지했으며, 2025년 8월 22일 지급 예정인 주당 0.15달러의 분기 배당금을 선언했습니다.
성장은 주로 최근 인수한 푼타 리마 풍력 발전소와 페루의 개선된 수문 조건에 의해 주도되었으며, 니카라과에서는 우물 상태 문제로 인해 생산량이 다소 감소했습니다.
Polaris Renewable Energy (TSX:PIF) a publié de solides résultats financiers pour le deuxième trimestre 2025, avec une production énergétique consolidée atteignant 215 797 MWh, soit une augmentation de 15 % par rapport à l'année précédente. La société a généré un chiffre d'affaires de 21,6 millions de dollars et un EBITDA ajusté de 15,4 millions de dollars, en hausse par rapport à 18,7 millions et 13,3 millions respectivement au deuxième trimestre 2024.
Le bénéfice net s'est élevé à 2 203 000 dollars (0,10 dollar par action), contre 985 000 dollars (0,05 dollar par action) au deuxième trimestre 2024. La société a maintenu une solide liquidité avec une trésorerie de 90,7 millions de dollars et a déclaré un dividende trimestriel de 0,15 dollar par action, payable le 22 août 2025.
La croissance a été principalement portée par l'acquisition récente du parc éolien Punta Lima et l'amélioration des conditions hydrologiques au Pérou, tandis que les opérations au Nicaragua ont connu une légère baisse de production en raison de problèmes liés au comportement des puits.
Polaris Renewable Energy (TSX:PIF) meldete starke Finanzergebnisse für das zweite Quartal 2025, mit einer konsolidierten Energieproduktion von 215.797 MWh, was einem Anstieg von 15 % gegenüber dem Vorjahr entspricht. Das Unternehmen erzielte einen Umsatz von 21,6 Millionen US-Dollar und ein bereinigtes EBITDA von 15,4 Millionen US-Dollar, verglichen mit 18,7 Millionen bzw. 13,3 Millionen US-Dollar im zweiten Quartal 2024.
Der Nettogewinn betrug 2.203 Tausend US-Dollar (0,10 US-Dollar pro Aktie), gegenüber 985 Tausend US-Dollar (0,05 US-Dollar pro Aktie) im zweiten Quartal 2024. Das Unternehmen hielt eine starke Liquidität mit einer Barreserve von 90,7 Millionen US-Dollar und erklärte eine Quartalsdividende von 0,15 US-Dollar pro Aktie, zahlbar am 22. August 2025.
Das Wachstum wurde hauptsächlich durch den kürzlich erworbenen Punta Lima Windpark und verbesserte hydrologische Bedingungen in Peru angetrieben, während die Produktion in Nicaragua aufgrund von Brunnenproblemen leicht zurückging.
- 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
- 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
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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