Link: https://links.sgx.com/1.0.0/corporate-announcements/FEQJ7IJLF9IPEZHN/e9cfb760463ee49c3c447389f767b0ce57165c83e9a79465d2b318fd6f95667d

Summary:

• Greenko Dutch B.V. (Restricted Group), issuer of US$940 million 3.85% Senior Notes due 2026, reported six‑month revenue of US$95.48 million for the period 1 April–30 September 2025, slightly lower than US$98.99 million a year earlier, driven by softer wind and solar receipts

• EBITDA remained resilient at US$73.52 million versus US$75.52 million, while profit before tax jumped to US$51.81 million from US$38.21 million, aided by higher finance income and disciplined operating cost control

• Profit for the period surged to US$42.62 million compared with US$27.40 million in the prior-year half, with earnings attributable to equity holders of the Restricted Group rising to US$42.56 million

• Total assets were broadly stable at US$1,293.19 million (vs US$1,307.52 million at 31 March 2025), with property, plant and equipment of US$782.64 million and intangible assets and goodwill of US$155.70 million underpinning a predominantly India-based renewables portfolio

• Net parent investment increased to US$304.90 million from US$293.05 million, while total equity edged up to US$306.40 million, as non-controlling interests stood at US$1.50 million

• The Restricted Group continues to carry US$812.85 million of fixed-rate borrowings (mainly the 3.85% Senior Notes), down from US$826.36 million after scheduled repayments, with the notes maturing in March 2026 and backed by guarantees and pledges within the Greenko group structure

• Operating cash flow remained robust at US$56.04 million (vs US$59.32 million), comfortably covering investment outflows of US$7.66 million and financing outflows of US$58.21 million, leading to period-end cash and cash equivalents of US$18.06 million

• Trade receivables rose to US$115.49 million, with a higher expected credit loss allowance of US$34.05 million, reflecting the continued concentration of exposure to Indian central and state-owned power utilities under long-term PPAs

• Management re‑affirmed that the Restricted Group’s carve‑out financials are prepared under IFRS on a top‑down basis from the parent’s consolidated statements and highlighted that all assets are located in India and revenues come entirely from Indian customers across wind, solar and hydro generation