Coro Energy plc AIM:CORO
- Incorporated
- United Kingdom
- Employees
- 3
- Reports in
- USD
- Companies House
- 10472005
Read straight from the annual reports
No price history · 10 reported years, 2016–2025
No daily prices have been collected for this company.
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USD millions, negatives in brackets. Per-share lines in cents, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated.
8 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
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Sale of electricity from two operational Vietnam rooftop solar projects under long-term Power Purchase Agreements (PPAs) with industrial customers, including Mobile World Group (MWG)
The Group has a single revenue stream, being the sale of electricity from two Vietnam solar projects. Electricity is sold to two industrial customers under power purchase agreements.
page 46Rollout of further MWG sites and new multi-site contract with An Viet Phat (AVP)
The Vietnam rooftop solar business generated revenue of approximately US$644,000 (2024: US$297,000) during the year with run-rate annual revenues of approximately US$720,000 following completion of Phase 4 MWG stores. The Company secured the first ~2MW of a potential 10MW programme with AVP.
page 4Vietnam solar gross operating profit scaling with site rollout
Gross operating profit was US$406,000 (2024: US$210,000) supporting the operating cost base of the Vietnam team.
page 4Reduced payroll and G&A cost base, transfer of admin functions to Vietnam
The Company continued to reduce payroll costs during 2025 and has continued to cut G&A expenses. The ongoing transfer of administrative functions to Vietnam is expected to deliver further savings during 2026.
page 4$17.8m credit: Gain from restructuring of Eurobond (redemption of 75% of principal/interest, conversion of remaining 25% to equity)
page 32The Company's strategy is now clear: to build a scalable solar and BESS business in Vietnam serving commercial and industrial customers.
page 3Financial statements prepared on a going concern basis, but a material uncertainty exists regarding availability and timing of funding required to execute the Group's growth strategy, which may cast significant doubt on the Group's ability to continue as a going concern (cash reserves of $0.5m at 31 Dec 2025). Auditor PKF Littlejohn LLP issued an unqualified (true and fair) opinion, drawing attention to this material uncertainty without modifying the opinion. Key Audit Matters: (1) capitalisation and impairment of intangible development assets (Philippines solar); (2) valuation of investments and intercompany receivables (parent company).
page 27- Availability of funding to continue as a going concern — Coro's portfolio does not yet generate sufficient cash to fund corporate operations and continued execution requires new external capitalp.4
- Currency and repatriation risk (VND/USD volatility, potential capital controls) affecting ability to deliver USD-denominated returns or fund UK corporate costsp.5
- Power price risk — Vietnamese electricity prices fluctuate with purchase power parity, global energy markets, macro conditions, FX, inflation, consumption trends and political eventsp.5
- System performance/O&M failures reducing energy output and revenuep.5
Read from C000327-AR-2025-ch.
9 annual reports read, FY2017 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (9)
FY2026Next report expected 5 Jul 2027