GUGLINGEN, GERMANY - hep global GmbH, a specialist in solar project development, announced the successful conclusion of fiscal year 2025 with a significant improvement in profitability. The company reported revenue of EUR 45.8 million, within its forecast range of EUR 45 to 55 million, and earnings before interest and taxes (EBIT) of EUR 10.8 million, compared to a loss of EUR 4.8 million in the prior year. The consolidated result turned positive at EUR 2.9 million, a stark improvement from the EUR -9.1 million loss in 2024. Operating cash flow also rebounded strongly to EUR 8.1 million, versus a negative EUR 24.8 million the year before.
The positive performance was largely driven by a focus on the service business and a surge in revenue from solar park project development, which more than doubled to EUR 41.9 million from EUR 18.8 million in 2024. Key markets contributing to this growth were Germany and Poland. Additionally, hep global reduced its cost base and enhanced operational efficiency. The change in inventories of work in progress amounted to EUR 13.5 million, reflecting development and construction services for projects in the U.S. and Germany. The balance sheet value of work in progress increased to EUR 65.7 million, indicating a robust project pipeline.
Following the sale of its investment business at the end of 2024, hep global has refocused entirely on the development and operation of photovoltaic projects. The company’s strategy emphasizes a "greenfield-first" approach, developing projects from early stages to unlock value throughout the process. Battery storage systems are increasingly integrated to create additional revenue streams and enhance project appeal for investors.
CEO Christian Hamann stated, "The fiscal year 2025 marks an important turning point for hep global. We have succeeded in returning to profitability through consistent strategy execution and strong operational performance." He highlighted the significant growth in project development revenue and the streamlined organization, which has laid the foundation for sustainable growth.
For fiscal year 2026, management forecasts revenue between EUR 45 and 55 million and EBIT in the range of EUR 0 to 10 million. The forecast accounts for a changed strategy in the U.S. following a strategic partnership with an external investor agreed upon in May 2026. The lower EBIT forecast is attributed to the expectation that a comprehensive financing solution will not be implemented until the second half of the year. Revenue levels will depend on the structure and timeline of this financing.
hep global plans to continue expanding its project pipeline in core markets: Germany, Italy, Poland, the U.S., Canada, and Japan. With consistent project development and increasing integration of battery storage, the company aims to capitalize on growth opportunities in international solar markets. More information is available at www.hepsolar.com.
