European Energy delivers strong Q1 2025 and begins e-methanol production

E-methanol production begins in Denmark as company posts strong financial performance and expands global footprint.

Copenhagen, Denmark, 28th May, 2025 – European Energy began 2025 with a significant operational achievement and solid financial performance.

During the first quarter of 2025, the company successfully produced its first e-methanol derived from renewable electricity at the Kassø e-methanol facility in Southern Denmark. The plant has an annual capacity of 42,000 t, and the first delivery of e-methanol to customers started immediately after the end of the quarter. It is the first green methanol being certified according to the ISCC EURFNBO standard.

Financially, European Energy delivered a strong performance with EBITDA reaching EUR 45.9m. The company maintains its full-year guidance at EUR 200 – 300m. Profit before tax amounted to EUR 35.3m, driven primarily by the divestment of projects in the U.S. and Denmark. Energy sales came in slightly below expectations due to weaker-than-average wind resources across Central Europe and subdued market prices.

“Producing our first e-methanol from renewable electricity marks a concrete step forward in scaling up green fuel solutions for industries that are difficult to decarbonise. It shows that we’re not just developing ambitious ideas – we’re delivering real results. Combined with one of our strongest financial quarters, it highlights the company’s strength,” says Jens-Peter Zink, Deputy CEO of European Energy.

By the end of the first quarter in 2025, European Energy had 1,219 MW under construction, up from 1,151 MW at the end of fourth quarter of 2024.

Total power production in Q1 2025 amounted to 496 GWh, with Denmark, Brazil, Poland, Germany, and Sweden as the largest contributors. This corresponds to the avoidance of 119,186 tonnes of CO₂ greenhouse gas emissions. Investment in digital capabilities remains a strategic priority, focusing on data-driven systems to optimise asset performance.

The company is also expanding globally, including Australia, where it inaugurated the 58 MW Mokoan Solar Park in Victoria – its first solar park developed and built in the country. With a 9 GW project pipeline, Australia is set to become a major growth market.

The EU’s Clean Industrial Deal continues reinforcing the drive toward electrification, renewable energy deployment, and greater energy independence. This is expected to support European Energy’s activities across all EU member states.

Despite global trade disputes – particularly involving the U.S. – European Energy has experienced minimal impact due to its primary markets being in Europe and Australia, where components are sourced at global prices without special import duties.

In Q1 2025, 100% of the company’s revenue was derived from EU Taxonomy-eligible renewable energy activities, further affirming the company’s commitment to climate change mitigation.

Link to the report can be found here: Q1 report