ANNUAL REPORT 2025
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Non-current assets | |||||
| Property, plant and equipment$’000 | 218,427 | 175,068 | 1,722 | 1,453 | PDF p. 59 |
| Intangible assets$’000 | 5,086 | 5,442 | – | – | PDF p. 59 |
| Right-of-use assets$’000 | 3,477 | 3,089 | 501 | 117 | PDF p. 59 |
| Prepayments$’000 | 181 | 181 | – | – | PDF p. 59 |
| Interests in subsidiaries$’000 | – | – | 26,327 | 26,327 | PDF p. 59 |
| Investment in an associate$’000 | – | – | – | – | PDF p. 59 |
| Due from subsidiaries (non-trade)$’000 | – | – | 105,248 | 101,997 | PDF p. 59 |
| Subtotal$’000 | 227,171 | 183,780 | 133,798 | 129,894 | PDF p. 59 |
| Current assets | |||||
| Inventories$’000 | 256 | 47 | – | – | PDF p. 59 |
| Trade and other receivables$’000 | 4,375 | 14,337 | 332 | 321 | PDF p. 59 |
| Due from subsidiaries (non-trade)$’000 | – | – | 7,639 | 8,529 | PDF p. 59 |
| Derivative financial assets$’000 | – | 1,027 | – | – | PDF p. 59 |
| Prepayments$’000 | 423 | 430 | 65 | 47 | PDF p. 59 |
| Cash and bank deposits$’000 | 17,889 | 16,623 | 5,101 | 5,624 | PDF p. 59 |
| Subtotal$’000 | 22,943 | 32,464 | 13,137 | 14,521 | PDF p. 59 |
| Current liabilities | |||||
| Trade and other payables$’000 | (3,875) | (9,925) | (1,039) | (938) | PDF p. 59 |
| Borrowings$’000 | (14,867) | (15,086) | – | – | PDF p. 59 |
| Lease liabilities$’000 | (455) | (167) | (216) | (123) | PDF p. 59 |
| Income tax payable$’000 | (15) | (8) | – | – | PDF p. 59 |
| Derivatives financial liabilities$’000 | (1,136) | – | – | – | PDF p. 59 |
| Subtotal$’000 | (20,348) | (25,186) | (1,255) | (1,061) | PDF p. 59 |
| Net current assets$’000 | 2,595 | 7,278 | 11,882 | 13,460 | PDF p. 59 |
| Non-current liabilities | |||||
| Deferred tax liabilities$’000 | (590) | (626) | (14) | (14) | PDF p. 59 |
| Borrowings$’000 | (93,017) | (51,102) | – | – | PDF p. 59 |
| Amounts due to related parties$’000 | (63,874) | (56,910) | (63,874) | (56,910) | PDF p. 59 |
| Lease liabilities$’000 | (3,192) | (3,010) | (293) | – | PDF p. 59 |
| Provision for rehabilitation$’000 | (2,936) | – | – | – | PDF p. 59 |
| Derivative financial liability$’000 | (217) | (1,093) | – | – | PDF p. 59 |
| Subtotal$’000 | (163,826) | (112,741) | (64,181) | (56,924) | PDF p. 59 |
| Net assets | |||||
| Net assets$’000 | 65,940 | 78,317 | 81,499 | 86,430 | PDF p. 59 |
| Equity | |||||
| Share capital$’000 | 223,659 | 223,659 | 223,659 | 223,659 | PDF p. 60 |
| Accumulated losses$’000 | (159,647) | (147,120) | (142,160) | (137,229) | PDF p. 60 |
| Cash flow hedge reserve$’000 | (217) | (1,093) | – | – | PDF p. 60 |
| Other reserve$’000 | (320) | (320) | – | – | PDF p. 60 |
| Foreign currency translation reserve$’000 | (2,927) | (2,201) | – | – | PDF p. 60 |
| Acquisition revaluation reserve$’000 | 5,392 | 5,392 | – | – | PDF p. 60 |
| Total equity attributable to owners of the Company$’000 | 65,940 | 78,317 | 81,499 | 86,430 | PDF p. 60 |
Original report: PDF p. 59 ↗ PDF p. 60 ↗
Amounts in $’000. Balance sheet continues on page 60 (Equity section). Liabilities shown in parentheses as printed. Company has no separate income statement presented; only consolidated Group income statement.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income statement | |||
| Revenue$’000 | 4,669 | 4,790 | PDF p. 61 |
| Other income$’000 | 1,070 | 1,991 | PDF p. 61 |
| Employee benefits expenses$’000 | (2,325) | (2,634) | PDF p. 61 |
| Depreciation and amortisation$’000 | (2,348) | (2,504) | PDF p. 61 |
| Operating expenses$’000 | (642) | (674) | PDF p. 61 |
| Impairment losses$’000 | (3,235) | – | PDF p. 61 |
| Other expenses$’000 | (4,567) | (9,187) | PDF p. 61 |
| Finance costs$’000 | (4,860) | (4,971) | PDF p. 61 |
| Loss before tax$’000 | (12,238) | (13,189) | PDF p. 61 |
| Income tax expense$’000 | (289) | (74) | PDF p. 61 |
| Loss for the year$’000 | (12,527) | (13,263) | PDF p. 61 |
| Attributable to: Owners of the Company | |||
| Loss for the financial year$’000 | (12,527) | (13,263) | PDF p. 61 |
Original report: PDF p. 61 ↗
Amounts in $’000. Only Group income statement is presented; no Company income statement printed.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Statement of comprehensive income | |||
| Loss net of tax$’000 | (12,527) | (13,263) | PDF p. 62 |
| Other comprehensive income: Items that may be reclassified subsequently to profit or loss | |||
| Foreign currency translation$’000 | (726) | 667 | PDF p. 62 |
| Fair value gain/(loss) on cash flow hedges$’000 | 876 | (1,093) | PDF p. 62 |
| Other comprehensive income | |||
| Other comprehensive income for the financial year, net of tax$’000 | 150 | (426) | PDF p. 62 |
| Statement of comprehensive income | |||
| Total comprehensive income for the financial year$’000 | (12,377) | (13,689) | PDF p. 62 |
| Total comprehensive income attributable to | |||
| Owners of the Company$’000 | (12,377) | (13,689) | PDF p. 62 |
| Earnings per share | |||
| Basic and diluted EPScents per share (unit not printed on row; Note 18) | (0.41) | (0.44) | PDF p. 62 |
Original report: PDF p. 62 ↗
Amounts in $’000 except EPS. EPS unit as printed in the statement (no unit printed on row; reported under $ column header context; Note 18).
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, $'000 | 2024Group, $'000 | Source |
|---|---|---|---|
| Statement of comprehensive income | |||
| Loss net of tax$'000 | (12,527) | (13,263) | PDF p. 62 |
| Other comprehensive income: Items that may be reclassified subsequently to profit or loss | |||
| Foreign currency translation$'000 | (726) | 667 | PDF p. 62 |
| Fair value gain/(loss) on cash flow hedges$'000 | 876 | (1,093) | PDF p. 62 |
| Other comprehensive income | |||
| Other comprehensive income for the financial year, net of tax$'000 | 150 | (426) | PDF p. 62 |
| Statement of comprehensive income | |||
| Total comprehensive income for the financial year$'000 | (12,377) | (13,689) | PDF p. 62 |
| Total comprehensive income attributable to | |||
| Owners of the Company$'000 | (12,377) | (13,689) | PDF p. 62 |
| Statement of comprehensive income | |||
| Basic and diluted EPScents per share (as printed, no unit stated) | (0.41) | (0.44) | PDF p. 62 |
Original report: PDF p. 62 ↗
No separate Company comprehensive income statement; Company statement of changes in equity shows loss for the year representing total comprehensive income. Note column: EPS Note 18.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, $'000 | 2024Group, $'000 | Source |
|---|---|---|---|
| Operating cash flows | |||
| Loss before tax$'000 | (12,238) | (13,189) | PDF p. 65 |
| Operating cash flows - Adjustments | |||
| Depreciation and amortisation$'000 | 2,348 | 2,504 | PDF p. 65 |
| Impairment loss on property, plant and equipment$'000 | 2,062 | – | PDF p. 65 |
| Impairment loss on trade and other receivables$'000 | 1,173 | – | PDF p. 65 |
| Unrealised foreign exchange differences$'000 | (1,040) | 6,757 | PDF p. 65 |
| Interest expenses$'000 | 4,860 | 4,971 | PDF p. 65 |
| Interest income$'000 | (405) | (781) | PDF p. 65 |
| Loss/(gain) on derivative instruments at fair value through profit or loss$'000 | 2,136 | (1,068) | PDF p. 65 |
| Write-back of allowance for impairment of trade and other receivables$'000 | – | (137) | PDF p. 65 |
| Property, plant and equipment written off$'000 | 32 | – | PDF p. 65 |
| Operating cash flows | |||
| Operating cash flows before working capital changes$'000 | (1,072) | (943) | PDF p. 65 |
| Decrease in inventories$'000 | 483 | 985 | PDF p. 65 |
| Decrease/(increase) in trade and other receivables$'000 | 8,353 | (1,307) | PDF p. 65 |
| (Increase)/decrease in prepayments$'000 | (7) | 1,267 | PDF p. 65 |
| Decrease in trade and other payables$'000 | (7,642) | (2,910) | PDF p. 65 |
| Cash flows from/(used in) operations$'000 | 115 | (2,908) | PDF p. 65 |
| Interest expense paid$'000 | (6,140) | (1,648) | PDF p. 65 |
| Interest received$'000 | 405 | 781 | PDF p. 65 |
| Income tax paid$'000 | (318) | (120) | PDF p. 65 |
| Net cash flows used in operating activities$'000 | (5,938) | (3,895) | PDF p. 65 |
| Cash flows from investing activity | |||
| Purchase of property, plant and equipment$'000 | (38,287) | (107,278) | PDF p. 65 |
| Net cash flows used in investing activity$'000 | (38,287) | (107,278) | PDF p. 65 |
| Cash flows from financing activities | |||
| Proceeds from borrowings$'000 | 41,387 | 53,408 | PDF p. 65 |
| Proceeds from related party$'000 | 6,560 | 39,896 | PDF p. 65 |
| Repayment of borrowings$'000 | (1,572) | (1,525) | PDF p. 65 |
| Repayment of lease liabilities$'000 | (360) | (432) | PDF p. 65 |
| Net cash flows generated from financing activities$'000 | 46,015 | 91,347 | PDF p. 65 |
| Cash and cash equivalents | |||
| Net increase/(decrease) in cash and cash equivalents$'000 | 1,790 | (19,826) | PDF p. 65 |
| Effect of exchange rate changes on cash and cash equivalents$'000 | (524) | (25) | PDF p. 65 |
| Cash and cash equivalents at beginning of financial year$'000 | 16,623 | 36,474 | PDF p. 65 |
| Cash and cash equivalents at end of financial year$'000 | 17,889 | 16,623 | PDF p. 65 |
Original report: PDF p. 65 ↗
Only Group cash flow statement is presented; no Company cash flow statement.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group Share capital (Note 12), $'000 | 2025Group Accumulated losses, $'000 | 2025Group Other reserve, $'000 | 2025Group Foreign currency translation reserve(1), $'000 | 2025Group Acquisition revaluation reserve(2), $'000 | 2025Group Cash flow hedge reserve (3) (Note 25), $'000 | 2025Group Total Equity, $'000 | Source |
|---|---|---|---|---|---|---|---|---|
| Group | ||||||||
| At 1 January 2025$'000 | 223,659 | (147,120) | (320) | (2,201) | 5,392 | (1,093) | 78,317 | PDF p. 63 |
| Loss net of tax$'000 | – | (12,527) | – | – | – | – | (12,527) | PDF p. 63 |
| Group - Other comprehensive income | ||||||||
| Foreign currency translation$'000 | – | – | – | (726) | – | – | (726) | PDF p. 63 |
| Cash flow hedges$'000 | – | – | – | – | – | 876 | 876 | PDF p. 63 |
| Group | ||||||||
| Other comprehensive income for the financial period, net of tax$'000 | – | – | – | (726) | – | 876 | 150 | PDF p. 63 |
| Total comprehensive income for the financial period$'000 | – | (12,527) | – | (726) | – | 876 | (12,377) | PDF p. 63 |
| At 31 December 2025$'000 | 223,659 | (159,647) | (320) | (2,927) | 5,392 | (217) | 65,940 | PDF p. 63 |
Original report: PDF p. 63 ↗
(1) Foreign currency translation reserve represents exchange differences arising from the translation of the financial statements of foreign operations whose functional currencies are different from that of the Company’s functional currency.
(2) Acquisition revaluation reserve represents the fair value adjustments on acquisition of subsidiary in 2009 relating to previously held interest.
(3) Cash flow hedge reserves record the portion of the fair value changes on derivative financial instruments designated as hedging instruments in cash flow hedges that are determined to be effective hedges.
No non-controlling interest column; all equity attributable to owners. Wrapped labels (Foreign currency translation; Other comprehensive income...; Total comprehensive income...) quoted from the final line fragment of the row.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2024Group Share capital (Note 12), $'000 | 2024Group Accumulated losses, $'000 | 2024Group Other reserve, $'000 | 2024Group Foreign currency translation reserve(1), $'000 | 2024Group Acquisition revaluation reserve(2), $'000 | 2024Group Cash flow hedge reserve (3) (Note 25), $'000 | 2024Group Total Equity, $'000 | Source |
|---|---|---|---|---|---|---|---|---|
| Group | ||||||||
| At 1 January 2024$'000 | 223,659 | (133,857) | (320) | (2,868) | 5,392 | – | 92,006 | PDF p. 63 |
| Loss net of tax$'000 | – | (13,263) | – | – | – | – | (13,263) | PDF p. 63 |
| Group - Other comprehensive income | ||||||||
| Foreign currency translation$'000 | – | – | – | 667 | – | – | 667 | PDF p. 63 |
| Cash flow hedges$'000 | – | – | – | – | – | (1,093) | (1,093) | PDF p. 63 |
| Group | ||||||||
| Other comprehensive income for the financial period, net of tax$'000 | – | – | – | 667 | – | (1,093) | (426) | PDF p. 63 |
| Total comprehensive income for the financial period$'000 | – | (13,263) | – | 667 | – | (1,093) | (13,689) | PDF p. 63 |
| At 31 December 2024$'000 | 223,659 | (147,120) | (320) | (2,201) | 5,392 | (1,093) | 78,317 | PDF p. 63 |
Original report: PDF p. 63 ↗
Footnotes (1)-(3) as in the 2025 Group table: (1) FCTR represents exchange differences from translation of foreign operations; (2) Acquisition revaluation reserve represents fair value adjustments on acquisition of subsidiary in 2009 relating to previously held interest; (3) Cash flow hedge reserves record effective portion of fair value changes on derivatives designated as cash flow hedges.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Company Share capital (Note 12), $'000 | 2025Company Accumulated losses, $'000 | 2025Company Total attributable to owners of the Company, $'000 | Source |
|---|---|---|---|---|
| Company | ||||
| At 1 January 2025$'000 | 223,659 | (137,229) | 86,430 | PDF p. 64 |
| Loss for the year, representing total comprehensive income$'000 | – | (4,931) | (4,931) | PDF p. 64 |
| At 31 December 2025$'000 | 223,659 | (142,160) | 81,499 | PDF p. 64 |
Original report: PDF p. 64 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2024Company Share capital (Note 12), $'000 | 2024Company Accumulated losses, $'000 | 2024Company Total attributable to owners of the Company, $'000 | Source |
|---|---|---|---|---|
| Company | ||||
| At 1 January 2024$'000 | 223,659 | (127,880) | 95,779 | PDF p. 64 |
| Loss for the year, representing total comprehensive income$'000 | – | (9,349) | (9,349) | PDF p. 64 |
| At 31 December 2024$'000 | 223,659 | (137,229) | 86,430 | PDF p. 64 |
Original report: PDF p. 64 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Earnings per share | |||
| Weighted average number of ordinary shares for basic and diluted earnings per share computationNo. of shares | 3,033,325,330 | 3,033,325,330 | PDF p. 99 |
Original report: PDF p. 99 ↗
Basic EPS = profit net of tax attributable to owners / weighted average ordinary shares outstanding. Diluted EPS adds weighted average shares issuable on conversion of dilutive potential ordinary shares. No EPS per-share figure in cents is printed in the pages read.
Where the money comes from
| Item / unit | 2025Renewable Energy | 2025Corporate and Others | 2025Per consolidated financial statements | 2024Renewable Energy | 2024Corporate and Others | 2024Per consolidated financial statements | Source |
|---|---|---|---|---|---|---|---|
| Revenue | |||||||
| External customers$'000 | 4,669 | – | 4,669 | 4,790 | – | 4,790 | PDF p. 101 |
| Total revenue from external parties$'000 | 4,669 | – | 4,669 | 4,790 | – | 4,790 | PDF p. 101 |
| Results | |||||||
| Interest income$'000 | 315 | 90 | 405 | 616 | 165 | 781 | PDF p. 101 |
| Other income$'000 | 653 | 12 | 665 | 5 | – | 5 | PDF p. 101 |
| (Loss)/gain on derivative instruments at fair value through profit or loss$'000 | (2,136) | – | (2,136) | 1,068 | – | 1,068 | PDF p. 101 |
| Impairment loss on property, plant and equipment$'000 | (2,062) | – | (2,062) | – | – | – | PDF p. 101 |
| Impairment loss on trade and other receivables$'000 | (1,173) | – | (1,173) | – | – | – | PDF p. 101 |
| Depreciation and amortisation$'000 | (2,098) | (250) | (2,348) | (2,205) | (299) | (2,504) | PDF p. 101 |
| Interest expenses$'000 | (4,466) | (394) | (4,860) | (4,580) | (391) | (4,971) | PDF p. 101 |
| Loss before tax$'000 | (6,918) | (5,320) | (12,238) | (7,301) | (5,888) | (13,189) | PDF p. 101 |
| Income tax expenses$'000 | (289) | – | (289) | (74) | – | (74) | PDF p. 101 |
Segment performance is evaluated based on operating profit or loss which in certain respects, as explained in the table below, is measured differently from operating profit or loss in the consolidated financial statements.
Two reportable segments: Renewable Energy and Corporate and Others.
| Item / unit | 2025Renewable Energy | 2025Corporate and Others | 2025Per consolidated financial statements | 2024Renewable Energy | 2024Corporate and Others | 2024Per consolidated financial statements | Source |
|---|---|---|---|---|---|---|---|
| 31 December Assets | |||||||
| Additions to property, plant and equipment$'000 | 48,390 | – | 48,390 | 106,842 | 490 | 107,332 | PDF p. 102 |
| Segment assets$'000 | 243,452 | 6,662 | 250,114 | 205,243 | 11,001 | 216,244 | PDF p. 102 |
| Segment liabilities$'000 | (168,924) | (15,250) | (184,174) | (78,966) | (58,961) | (137,927) | PDF p. 102 |
| Item / unit | 2025Renewable | 2024Renewable | Source |
|---|---|---|---|
| Information about major customers | |||
| Revenue from a major customer$'000 | 2,393 | 2,529 | PDF p. 102 |
| Item / unit | 2025Revenue | 2024Revenue | 2025Non-current assets | 2024Non-current assets | Source |
|---|---|---|---|---|---|
| Geographical information | |||||
| Singapore$'000 | – | – | 614 | 4,061 | PDF p. 102 |
| Indonesia$'000 | – | – | 2,953 | 2,536 | PDF p. 102 |
| Vietnam$'000 | 4,669 | 4,790 | 34,694 | 38,934 | PDF p. 102 |
| Australia$'000 | – | – | 188,910 | 138,249 | PDF p. 102 |
| Total (unlabelled)$'000 | 4,669 | 4,790 | 227,171 | 183,780 | PDF p. 102 |
Revenue and non-current assets information based on the geographical location of customers and assets respectively. Total row has no printed label.
Debt
| Item / unit | 2025One year or less, $'000 | 2025One to five years, $'000 | 2025More than five years, $'000 | 2025Total, $'000 | 2024One year or less, $'000 | 2024One to five years, $'000 | 2024More than five years, $'000 | 2024Total, $'000 | Source |
|---|---|---|---|---|---|---|---|---|---|
| Financial liabilities | |||||||||
| Borrowings$'000 | (20,259) | (105,628) | (125,887) | (251,774) | (19,381) | (59,682) | – | (79,063) | PDF p. 118PDF p. 119 |
| Lease liabilities$'000 | (455) | (1,282) | (5,060) | (6,797) | (356) | (923) | (5,024) | (6,303) | PDF p. 118PDF p. 119 |
Based on contractual undiscounted repayment obligations.
| Item / unit | 2025One year or less, $'000 | 2025One to five years, $'000 | 2025Total, $'000 | Source |
|---|---|---|---|---|
| Financial liabilities 2025 Company | ||||
| Lease liabilities$'000 | (216) | (341) | (557) | PDF p. 119 |
Company has no borrowings line in the maturity table.
| Item / unit | 2025$'000 | 2024$'000 | Source |
|---|---|---|---|
| Current | |||
| USD Loan$'000 | (12,841) | (15,086) | PDF p. 106 |
| AUD Loan$'000 | (1,874) | – | PDF p. 106 |
| VND Loan$'000 | (152) | – | PDF p. 106 |
| Non-current (maturity 2025 – 2029) | |||
| USD Loan$'000 | – | – | PDF p. 106 |
| AUD Loan$'000 | (91,985) | (51,102) | PDF p. 106 |
| VND Loan$'000 | (1,032) | – | PDF p. 106 |
| Total | |||
| Total borrowings$'000 | (107,884) | (66,188) | PDF p. 106 |
USD Loan from a Swiss fund, denominated in USD, SOFR + margin ranging from 4.87% to 10.16%, secured by ownership interest in Vietrof RE Pte Ltd and subsidiaries and all present and future solar assets (Note 3). Presented as current due to covenant breach; conditional waiver received 20 February 2026.
AUD Loan: denominated in Australian Dollar, BBSY + margin ranging from 1.80% to 6.50%, secured by ownership interest in Progressive Renewable Development Gunsynd Pty Ltd and all present and future solar assets.
VND Loan: denominated in Vietnamese Dong, VNIBOR + margin ranging from 2.25% to 8.20%, secured by ownership interest in Chesterfield Solar Vietnam Company Limited and all present and future solar assets.
Subtotals current (14,867)/(15,086) and non-current (93,017)/(51,102) are printed without a label.
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend policy | The Board aims to declare and pay annual dividend. The form, frequency and amount of dividends each year will take into consideration the Group’s financial performance, cash position, cash flow generated from operations, projected capital requirements for business growth, general global economic conditions and other factors as the Board may deem appropriate. | Company | PDF p. 49 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| No dividend has been declared or recommended for FY2025 | No dividend has been declared or recommended for FY2025 as the Company continued to record accumulated losses as at 31 December 2025. | Company, FY2025 · As at 2025-12-31 | PDF p. 49 |
Extracted from ANNUAL REPORT 2025 and checked against the cited pages; see the original report for full context.
Auditor’s report
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Audit firm | Ernst & Young LLP | Group and Company, year ended 31 December 2025 | PDF p. 58 |
| Engagement partner | Lim Huijing Amanda | Group | PDF p. 58 |
| Opinion | properly drawn up in accordance with the provisions of the Companies Act 1967 (the “Act”) and Singapore Financial Reporting Standards (International) (the “SFRS(I)”) so as to give a true and fair view | Group and Company, year ended 31 December 2025 | PDF p. 54 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Impairment assessment of non-financial assets | Impairment assessment of non-financial assets | Group | PDF p. 55 |
| Valuation of derivative financial instrument relating to Power Purchase Agreement (“PPA”) | Valuation of derivative financial instrument relating to Power Purchase Agreement (“PPA”) | Group | PDF p. 55 |
Extracted from ANNUAL REPORT 2025 and checked against the cited pages; see the original report for full context.
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow ANNUAL REPORT 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.