Solaria Energia y Medio Ambiente, S.A. Q2 2026 Earnings Recap

Solaria reported higher first-half production, EBITDA and profit, while reducing leverage; the stock rose 1.6%, a broadly flat reaction. Management reaffirmed its EBITDA targets and described a better second-half outlook, but that outlook remains forward-looking.

Key Takeaways

• First-half production increased 51% year over year; sales from the infra business were nearly €100 million.
• EBITDA rose 50% to €210 million, or 64% of the €331 million full-year target. Management reaffirmed targets of €456 million for 2027 and €521 million for 2028.
• Net profit increased 52% to €122 million. The company invested more than €276 million during the half.
• Net financial debt to EBITDA fell to 3.9x from 5.4x; fixed-rate debt reached 84% of total debt.
• Solaria expects a stronger second half and cited a 75% increase in Q3 solar prices and 30% growth in generation. It also announced a cost- and capital-efficiency program targeting €7 million in additional savings.