Aggregated revenue reached €201 million between January and September, up 75% from €115 million in the same period last year, primarily driven by improved performance across existing businesses and the integration of complementary new businesses.
Aggregated EBITDA for the first nine months amounted to €19 million, representing a 10% margin on revenue, supported by efforts to capture synergies in structural and general service costs, as well as higher execution volumes.
New Greening completed four integrations during the year and launched a far-reaching Group restructuring to unlock efficiencies and fully provision businesses that are not profitable.
The company has launched an Efficiency and Competitiveness Plan delivering €15 million in savings in 2026, with further improvements expected in the coming quarters.
Energy Solar Tech, integrated into the Group in July, contributed €36 million in revenue and €5 million in EBITDA during the first nine months of the year.
New Greening held its Extraordinary General Shareholders’ Meeting last Friday, appointing four new directors to strengthen the independence of the Board of Directors and support the company’s new phase.
New Greening expects to close 2026 with aggregated revenue of between €275 million and €300 million and EBITDA of between €22 million and €25 million.
Madrid, 2 November 2026
New Greening today published its half-year financial results, together with an update on its performance from January to September 2026. During the nine-month period, the company achieved aggregated revenue of €201 million, up 75% compared with the same period last year. Aggregated EBITDA reached €19 million in the first nine months of 2026, representing a margin of 10%.
9M 2026 Trading Update: Growth accompanied by improved profitability
Reported revenue for the period reflects the consolidation of businesses incorporated into the Group throughout the year. Of the total, €132 million came from Greening, €36 million from Energy Solar Tech and €34 million from Lidera, the Group’s integrated energy retail business.
EBITDA improved across all the Group’s key geographies, particularly in the United States, as well as in the services and equipment businesses serving consumers and data centres. The EBITDA margin reached 10% over the first nine months of the year.
Pablo Otín, CEO of New Greening, commented: “Business performance is improving across the board, and across all our key geographies. Our businesses are delivering: from energy retail through Lidera, to services through GreenSol, and the recurring outsourcing and electrical substation business at Energy Solar Tech. Together, they are laying the foundations for a new phase of growth. This is complemented by a more efficient organisational structure and financial discipline. 2026 marks a turning point. We are embarking on a new cycle.”
Efficiency and financial discipline
New Greening has launched an efficiency plan covering all levels of the organisation. The Efficiency and Competitiveness Plan targets cost reductions of up to €30 million over the 2025–2027 period, of which €15 million relates to 2026. The plan is built around two main pillars: organisational simplification and operating cost optimisation. By the end of September, structural costs had been reduced by 47% and operating costs by 54%.
At the same time, the company is withdrawing from non-strategic markets and concentrating its resources on higher-return projects. These corporate actions include the closure of operations in France and Morocco, divestments in Germany and the sale of non-strategic business units. The corporate structure has also been reviewed to eliminate duplication across teams, while general expenses and external service costs have been reduced.
The company has also made significant progress in reducing its debt. New Greening has submitted a debt restructuring proposal to its financial institutions. The process involves 14 lenders and is at an advanced stage of negotiations. The aim is to reach an agreement in the fourth quarter of the year, extending maturities, reducing the cost of debt and strengthening the Group’s financial flexibility. At the end of September 2026, the Group’s net debt stood at €145 million. The planned sale of the Mexican assets is expected to have a direct and significant impact on reducing net debt.
Laying the foundations for a new phase
In 2026, New Greening completed four strategic integrations across energy generation and retail, premium engineering and construction services, energy storage, and new technologies tailored to the energy sector.
EiDF will complete its far-reaching restructuring in the fourth quarter of 2026 to adapt its structure to its new business profile. As a precautionary measure, 100% of the potential impact of the transaction has been provisioned. EiDF will focus on cash-generating businesses, and its General Shareholders’ Meeting will renew its governing bodies in due course.
Nagini is being integrated into the Lidera energy retail platform. It will contribute more than 800 GWh of energy sales and 30,000 corporate customers, and is expected to generate over €100 million in revenue and €7 million in EBITDA in 2026. In addition to energy supply, Lidera’s main growth drivers include demand management, energy storage and industrial hybridisation systems, and self-consumption solutions. These services will support its development into a comprehensive energy management platform.
Energy Solar Tech has an operational asset base generating annualised revenue, alongside established activities in data centres and electrical substations. During the first nine months of 2026, the company contributed €36 million in revenue and €5 million in EBITDA to the Group. Greening completed the integration of Energy Solar Tech in July 2026, following an acceptance rate of more than 92%.
The Group’s companies have a combined portfolio of 128 MW of operational wind, photovoltaic and self-consumption assets, providing recurring cash flows to the Group and supplying part of Lidera’s energy retail requirements.
2026 year-end outlook
New Greening expects to close 2026 with aggregated revenue of between €275 million and €300 million and EBITDA of between €22 million and €25 million.
In addition, the Group expects its leverage ratios to stand below 6x for net financial debt to 2026 EBITDA and below 4x for corporate non-recourse debt to 2026 EBITDA.
Invitation: 9M 2026 Trading Update webcast
New Greening will host a webcast on 3 November 2026 at 10:00 a.m. CET to present its trading update for the first nine months of 2026.
Registration: Register for the webcast