Greencoat Renewables AIM:GRP
- Founded
- 2017 · Dublin, Ireland
- Incorporated
- Ireland
- Reports in
- EUR
Investment company owning a portfolio of operating renewable energy assets, principally onshore wind farms in Ireland plus wind and solar across continental Europe, managed externally by Schroders Greencoat. Pays dividends funded by long-term contracted and merchant power sales. A fund rather than an operating business.
Read straight from the annual reports
66.4c at close on 2 Oct 2026 · 9 reported years, 2017–2025
| Line | FY201712/17 | FY201812/18 | FY201912/19 | FY202012/20 | FY202112/21 | FY202212/22 | FY202312/23 | FY202412/24 | FY202512/25 | FY2026unreported |
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EUR 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. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
9 years, at a glance
C000564-AR-2025-nsm
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Long-term PPAs and government support mechanisms providing contracted cashflows
76% (2024: 71%) of the Company's revenues are contracted through 2030; illustrative contracted cashflows fall from 85% in 2026 to 62% in 2030
page 12Merchant power price capture across five European power markets
Average merchant capture prices shown by market/technology; Sweden recorded a steep decline in capture price due to high hydro balances and lower demand
page 12Reduced investment management fee (50% based on lower of NAV and market capitalisation from 1 April 2025)
Investment management fees fell to €10.075m (2024: €11.862m) partly reflecting the fee reduction, increasing alignment with shareholders
page 13Power price weakness, particularly in mainland Europe and Sweden
Power price movement reduced NAV by 4.3 cent per share in the year; Sweden capture prices fell steeply on high hydro balances
page 15Chairman Rónán Murphy stated the near-term priority is narrowing the discount to NAV via share buybacks and deleveraging, while positioning the business for structurally higher returns via hybridisation and a new digital infrastructure platform.
page 4On 28 January 2026 the Company invested €6.0 million by way of equity subscription in Dawson JV Limited, a 50:50 joint venture with funds managed by Schroders Greencoat LLP
page 81Policy is to provide an annual dividend that increases between zero and Irish CPI while growing NAV over the long term through reinvestment of excess cashflow and prudent gearing. FY2025 total dividends declared were 6.81 cent per share (2024: 6.74 cent); 2026 target dividend confirmed unchanged at 6.81 cent per share; net dividend cover was 1.5x in 2025 (2024: 1.9x).
page 40Directors adopted the going concern basis, citing net current assets of €53.8 million and cash of €44.6 million, and a viability assessment over 10 years given the long asset lives (30-40 years). BDO issued an unqualified (unmodified) opinion; the sole key audit matter was Valuation of Financial Assets at Fair Value through Profit or Loss (the DCF-based investment valuation); group materiality was €22.04 million (2% of net assets).
page 46- Generation underperformance versus P50/budget due to wind, solar or grid constraint variabilityp.28
- Power price fluctuation and volatility from geopolitical and macroeconomic eventsp.28
- Concentration of assets in particular geographies exposed to correlated weather patternsp.28
- Changes in regulation and EU market redesign affecting subsidy/support frameworksp.28
Read from C000564-AR-2025-nsm.
17 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: FCA NSM (8), Company website (9)
FY2026Next report expected 11 Mar 2027