Dublin, London, Johannesburg | 14 September 2026: Greencoat Renewables PLC has released its interim results for the six months ending 30 June 2026, highlighting a significant turnaround in financial performance compared to the previous year. The results reflect the company’s resilience and strategic focus on sustainable growth within the renewable energy sector.

Financial Highlights

For the first half of 2026, Greencoat Renewables reported a net cash generation of €59.8 million, which translates to a robust net dividend cover of 1.6 times. This strong cash flow provides a clear revenue visibility with an illustrative five-year contracted cash flow profile of 73% through to 31 December 2030.

In terms of profitability, the company recorded a profit after tax of €11.9 million, a significant improvement from a loss of €68.0 million reported in June 2025. Earnings per share also saw a positive shift, increasing to 1.08 cents per share from a loss of 6.11 cents per share in the previous year.

Sponsors

Dividends declared for the period remained consistent at 3.41 cents per share, aligning with the full-year dividend target set by the company, which was also maintained in the previous year.

Share Buyback Programme

As part of its capital allocation strategy, Greencoat Renewables announced a €50 million share buyback programme since March 2026. By 10 September 2026, the company had repurchased 36,059,472 shares at a cost of €27.3 million. This initiative is part of a broader objective to return €100 million to shareholders, demonstrating the company’s commitment to enhancing shareholder value while maintaining financial discipline.

Operational Performance

During the reporting period, Greencoat Renewables generated 1,851 GWh of renewable electricity. However, production was 6% below budget, primarily due to lower wind resources experienced in the first quarter. Despite this, the company’s operations in Ireland, which constitute the majority of its revenue, performed in line with expectations, contributing to strong cash generation and dividend cover.

Strategic Developments

The company is actively progressing its portfolio optimisation strategy, which includes asset disposals, hybridisation, and the exploration of new development opportunities. These initiatives are designed to create additional value and enhance the overall performance of the company’s renewable energy assets.

In a notable development, Greencoat Renewables launched a Green Digital Infrastructure Platform in collaboration with funds managed by Schroders, marking a strategic move to diversify its investment portfolio and tap into emerging opportunities within the digital infrastructure space.

Debt Management and Market Positioning

As of the end of June 2026, Greencoat Renewables reported an aggregate group debt of €1,203 million, which represents 53.3% of its Gross Asset Value (GAV). This level of debt remains well within the company’s investment policy limit of 60%, indicating a disciplined approach to financial management and risk mitigation.

Shortly after the reporting period, the company agreed to an accretive short-term Power Purchase Agreement (PPA) for merchant volumes in Germany. This agreement is expected to enhance the illustrative five-year contracted cash flow profile to 75%, further solidifying the company’s recontracting strategy.

Additionally, Greencoat Renewables has successfully completed its transition to the Main Board of the Johannesburg Stock Exchange, which is part of its broader equity capital markets strategy aimed at increasing visibility and access to capital.

Leadership Insights

Bernard Byrne, Non-Executive Chairman of Greencoat Renewables, expressed confidence in the company’s performance, stating, “The first half of 2026 demonstrated the resilience of Greencoat Renewables’ portfolio and business model. While generation was modestly below budget overall, our home market of Ireland performed in line with expectations and underpinned strong cash generation and robust dividend cover.”

Byrne also highlighted the revised capital allocation framework introduced in March, which aims to enhance shareholder returns while maintaining balance sheet discipline and supporting long-term value creation. The Board remains focused on disciplined capital allocation and delivering sustainable long-term value for shareholders, positioning the company to capitalise on growth opportunities arising from the ongoing energy transition.

Overall, Greencoat Renewables’ interim results for 2026 reflect a strong recovery and a strategic approach to navigating the challenges of the renewable energy market, with a clear focus on sustainable growth and shareholder value enhancement.