Cloudberry Clean Energy ASA | Fourth quarter 2025 report
Oslo, Norway, 10 February 2026: Cloudberry Clean Energy ASA (“Cloudberry” or the “Company”) delivers strong results driven by growth, cost savings and a high realized power price.
- Financial highlights
- Consolidated revenue of NOK 213m (127m) and proportionate revenue of NOK 231m (260m). 2025 proportionate revenue of NOK 697m (NOK 776m)
- Consolidated EBITDA of NOK 87m (58m) and proportionate EBITDA of NOK 102m (166m). 2025 proportionate EBITDA of NOK 255m (NOK 431m)
- 2024 financials were positively affected by development gains and asset recycling, which affects the comparable EBITDA for the quarter and full year. Adjusted for these effects, underlying profitability has increased
- Proportionate production of 218 GWh over the quarter (213 GWh)
- Realized an average net power price of NOK 0.79 per kWh (NOK 0.59 per kWh) compared to the Nordic system price of NOK 0.60 per kWh over the quarter
- Strong proportionate cash balance of NOK 891m and conservative debt balance
- Attractive debt financing with a majority secured long-term at an all-in cost below 4% p.a.
- Project updates
- Initiated a cost‑reduction program expected to deliver at least NOK 30m in annual savings, including an approximate 20% reduction in FTEs following a strategic refocus within the Projects segment
- Taken advantage of a distressed situation to carve out and acquire the 18 MW wind project Frostnäs (SE-4) for EUR 0.4m
- Received a dividend of EUR 5m from the restricted cash balance in Odal, previously reported within proportionate current assets
- The hydro power plant Småvoll (12 GWh proportionate production) was commissioned in December 2025 and started production
- Two supplier audits completed in Q4 2025 with no issues identified, confirming robust HSE and labour practices
- Avoided emissions of 43 000 tCO2e over the quarter (53 000 tCO2e)
- No lost-time injuries reported at any operational plant or construction project during Q4
Cloudberry invites investors, analysts, and other stakeholders to a company presentation at 11:00 CET. Please use the following link to register and join.
The fourth quarter report for 2025, the presentation material, and the link to the webcast and Q&A session will be made available at http://www.cloudberry.no/.
For further information please contact:
Ole-Kristofer Bragnes, CFO, +47 917 03 415, okb@cloudberry.no
Anders Lenborg, CEO, +47 934 13 130, al@cloudberry.no
Christian Helland, CCO, +47 418 80 000, ch@cloudberry.no
This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Ole-Kristofer Bragnes, CFO, in Cloudberry Clean Energy ASA on 10 February 2026, at 07:00 CET.
About Cloudberry
Cloudberry is a renewable energy company operating in the Nordics and in accordance with local traditions. The Company owns, develops, and operates hydropower plants and wind farms in the Nordics. Cloudberry is powering the energy transition to a sustainable future by providing new renewable energy today and for future generations. The Company believes in a fundamental long-term demand for renewable energy in Europe. With this as a fundament, Cloudberry is building a sustainable, scalable, efficient, and profitable platform for creation of shareholder value. Cloudberry`s shares are traded on Oslo Stock Exchange's main list (Oslo Børs), supported by strong owners and led by an experienced team and board. The Company has offices in Oslo, Norway (main office), Karlstad, Gothenburg and Eskilstuna, Sweden and Lemvig, Denmark. To learn more about Cloudberry, go to www.cloudberry.no