from GROUPE OKWIND (isin : FR0013439627)
Inside Information / News release on accounts, results
OKWIND Group Reports 2025 Annual Results Impacted by Declining Business Activity
2025 results impacted by declining business activity amid a challenging industry environment
- 2025 revenue of €23.8 million, down 58% compared to 2024
- EBITDA of -€13.5 million and net income attributable to the Group of -€26.8 million, including €10.5 million in negative non-recurring items
- Continued efforts to divest the Étrelles site, sell financial assets, and renegotiate bank and bond debt
- Cash position of €1.2 million as of May 31, 2026
Torcé, France, June 12, 2026 – 7:45 a.m. CEST – OKWIND Group (FR0013439627 – ALOKW), a company specializing in the design, manufacture, and sale of smart energy generation and management systems for self-consumption, announces its 2025 consolidated results, as approved by the Board of Directors on June 11, 2026.
In light of the Company’s situation and a number of uncertainties, the Statutory Auditors informed the Board that they would likely issue a report stating that they were unable to certify the financial statements. The Board of Directors nevertheless decided to approve the financial statements for the 2025 fiscal year based on the going concern principle.
The Extraordinary General Meeting convened on the same day following the triggering of the Phase 3 alert procedure initiated by the Statutory Auditors took note of their report.
Cash Position as of May 31, 2026, and Proposed Capital Increase
As of May 31, 2026, the Group’s available cash position1 , after taking into account short-term deposits, stood at €1.2 million.
This position includes current account contributions from long-standing shareholders.
As part of its strategic plan, the Company intends to launch a capital increase or any other financing solution as soon as possible, with a target amount of approximately €4 million. Certain long-standing shareholders have already committed to subscribing to this capital increase in the amount of €1.6 million (through the conversion of current account contributions made since April 2026), thereby demonstrating their support for OKWIND’s new project.
A business model focused on energy self-sufficiency and strengthening the Company’s competitiveness amid volatile electricity prices
Following a 2025 impacted by a decline in business activity, the Company is continuing its reorganization.
- A business model focused on energy self-sufficiency: OKWIND is concentrating its portfolio around its key technologies—biaxial solar trackers, BESS (Battery Energy Storage System) storage systems, and energy monitoring software.
This integrated offering is aimed at agricultural operations, industrial and service sector companies, as well as local governments seeking to secure their energy costs, limit their dependence on market price fluctuations, and decarbonize their energy mix. At the same time, OKWIND is expanding its distribution channel and positioning itself as an equipment supplier to approved, selected, trained, and certified installation partners. - Restructuring to Support OKWIND’s Business Refocus and Competitiveness: OKWIND is streamlining its geographic organization to increase agility and adapt its operations through a model that combines subcontracting with installer partners.
In addition, the Company notes that it has finalized the Job Protection Plan announced at the end of 2025. As of the end of May 2026, the Company had 134 employees, compared to 235 employees as of January1, 2025. - New governance structure to steer a transformed Group
OKWIND is now organized around two operational Business Units:- OKWIND Constructeur designs, manufactures, and sells products nationwide and manages indirect sales partnerships outside the Greater West region.
- OKWIND Services sells solutions in the Greater West region, installs them, and performs maintenance. This reorganization aims to improve OKWIND’s overall performance, service quality, and on-the-ground presence.
In addition, the Company has separated the roles of Chairman and CEO. Marie-Sylvie Bertail has been appointed CEO and is tasked with leading the Group’s operational and commercial turnaround. Louis Maurice remains Chairman of the Board of Directors.
Marie-Sylvie Bertail, CEO of the OKWIND Group, stated: “Following a 2025 fiscal year marked by profound changes in the solar market, the Group recorded a sharp decline in its commercial and financial performance. In this context, OKWIND has embarked on a fundamental transformation of its business model and organization to lower its break-even point, improve operational efficiency, and strengthen its position in the energy independence and decarbonization market. Our priority is now to revitalize the business around a clear, differentiated, and integrated offering that combines solar generation, storage, and smart energy management.”
2025 results impacted by lower activity in a challenging sectoral environment
| in €M | 12/31/2025 | 12/31/2024 | % Change |
|---|---|---|---|
| Revenue | 23.8 | 57.1 | -58% |
| of which B2B revenue | 20.8 | 50.1 | -58% |
| of which B2C revenue | 3.0 | 7.0 | -57% |
| Other operating income | 1.9 | 2.9 | -36% |
| Purchases consumed | -11.3 | -27.2 | -58% |
| Personnel expenses | -14.6 | -15.2 | -4% |
| Other operating expenses | -13.0 | -16.8 | -22% |
| Taxes | -0.2 | -0.4 | -47% |
| EBITDA | -13.5 | 0.5 | n/a |
| Net changes in depreciation, amortization, and impairment | -10.0 | -2.3 | n/a |
| Operating income | -23.5 | -1.9 | n/a |
| Financial income and expenses | -1.4 | -2.2 | -38% |
| Extraordinary expenses and income | -1.7 | -0.5 | n/a |
| Income tax | -0.3 | 0.9 | na |
| Net income (group share) | -26.8 | -3.6 | n/a |
In 2025, the OKWIND Group reported revenue of €23.8 million, compared to €57.1 million in 2024, a 58% decline from the previous year. Revenue is broken down as follows:
- 87% of revenue generated from B2B: €20.8 million, down 58%
- 13% of revenue generated from B2C: €3.0 million, down 57%
The Farm business line, the Group’s leading market, was heavily impacted throughout the year by falling electricity prices, as was the Individual Customers segment.
Since the workforce reduction plan was not finalized until 2026, the decline in average headcount for the 2025 fiscal year was moderate, allowing the Group to report a 4% decrease in personnel expenses, to €14.6 million compared to €15.2 million in 2024.
Other operating expenses totaled €13.0 million, down 22% from 2024, though this does not fully reflect the contraction in business activity. They notably include the decline in transportation, subcontracting, and equipment rental expenses, directly linked to the drop in business activity, partially offset by an increase in the “intermediary compensation and fees” line item to €1.4 million, due to the non-recurring impact of assignments undertaken as part of the Group’s restructuring and transformation.
The level of activity is weighing heavily on the Group’s operating performance and is leading to a marked deterioration in consolidated EBITDA, which stands at -€13.5 million in 2025 compared to +€0.5 million in 2024.
Net changes in depreciation, amortization, and impairment losses amount to -€10.0 million in 2025, compared to -€2.3 million in 2024, including notably a provision of €1.7 million related to the restructuring plan and an additional impairment of inventory related to the BtoC business.
In addition, the annual goodwill impairment test results in a definitive impairment charge of €5.0 million in 2025, corresponding to the full amount of goodwill.
The financial result stands at -€1.4 million, compared to -€2.2 million in 2024, including an additional provision of €0.2 million on WATERA (formerly OSMOSUN) securities, while interest expenses on loans and debt remain broadly stable.
Extraordinary income amounted to -€1.7 million, compared to -€0.5 million in 2024, due to the impairment of intangible assets related to the business refocusing undertaken by the Group as part of its transformation and restructuring plan.
After recognizing a net tax expense of €0.3 million, the Group’s share of consolidated net income resulted in a loss of €26.8 million, compared to a loss of €3.6 million in 2024.
Availability of the 2025 Financial Report
The 2025 annual financial report will be available on June 12, 2026, on the Company’s investor website.
About the OKWIND Group
Founded in 2009 by Louis Maurice, Chairman of the Board of Directors, the French OKWIND Group is the expert in individual and collective energy self-consumption. Its comprehensive approach and cutting-edge technology aim to enhance the energy autonomy and efficiency of farmers, businesses, and local communities. Every day, the OKWIND Group works to deploy local, controlled, stable, lowcarbon energy that respects the environment to accelerate and optimize the ecological transition . The group designs, develops, and deploys comprehensive green energy management solutions (local solar production, self-consumption, surplus energy utilization, and improved consumption models). By becoming prosumers, OKWIND customers can generate their own energy, manage their production, and regulate their electrical processes. Historically based in western France, 30 km from Rennes (Torcé), the OKWIND Group generated consolidated revenue of €23.8 million in 2025. As of May 31, 2026, the Company had 134 employees, with more than 5,500 installations throughout France. For more information: www.okwind.fr
CONTACTS
OKWIND Group
Investor Relations
investors@okwind.fr
NewCap
Thomas Grojean
Investor Relations
okwind@newcap.eu
Tel.: 01 44 71 94 94
NewCap
Nicolas Merigeau
Media Relations
okwind@newcap.eu
Tel.: 01 44 71 94 98
Notes
- Cash and cash equivalents include cash on hand, bank overdrafts, marketable securities that can be liquidated in the short term, and time deposits.