Enapter AG Reports Preliminary Financial Results for 2025

Enapter AG has announced its preliminary figures for the fiscal year 2025. The company's revenue reached approximately 22.1 million euros, aligning with its anticipated range of 20–22 million euros. However, the preliminary, unaudited EBITDA was approximately -18.1 million euros, which is below the initially projected range of -9 to -10 million euros for the year.

The shortfall in EBITDA was largely attributed to impairment charges on receivables, amounting to about 3 million euros, and a 4.5 million euro expense related to the return of previously delivered stacks. The company expects to account for revenue from these returned stacks in 2026.

The order backlog at the end of 2025 was approximately 36 million euros, with around 29 million euros estimated for recognition in the 2026 fiscal year.