Moeve raises EBITDA to 1,192 million and boosts investment in energy transition

1. Stable financial results and greater operating strength
2. Investments and progress in the energy transition
3. Promoting sustainable fuels
4. Quarterly EBITDA on the rise thanks to the energy business
5. Sections: Energy drives growth; Chemistry, exploration and production decline

Stable financial results and greater operating strength

Moeve finished the first nine months of the year with Adjusted CCS EBITDA of €1,192 millionThis is a number that reflects the financial stability and operational strength of the company in a year marked by fluctuations in the energy sector. he CCS adjusted net profit It was located in 472 million eurosWhich reinforces the positive trend recorded during the first half of 2025.

The company also highlighted the strength Cash flow from operationswho arrived 1,131 million euros. This level of cash generation has allowed us to continue funding our turnaround strategy Positive movementWhile maintaining a strong balance sheet and prudent financial policy.

Investments and progress in the energy transition

Between January and September, allocate moive 757 million euros For investments, including 52% Head to Energy transformation projects. Among the most notable initiatives is the new building Second generation biofuel plant in HuelvaWhich will be part of the largest complex of its kind in southern Europe.

The company ended the period with Net debt: 2,328 million eurosThis represents a decline compared to the end of the first quarter thanks to strong cash generation in the third quarter. This allowed Net debt to EBITDA ratio You will get better 1.9x to 1.7xStrengthening the group’s financial position.

Promoting sustainable fuels

Within its positive movement strategy, Moeve reached one of its most important milestones in October when it became The first external supplier of sustainable aviation fuel (SAF) to join Aveliathe premier blockchain-based “booking and claims” platform for the aviation sector.

In addition, it has strengthened its commitment to developing synthetic fuels for aviation (e-SAF) and in accordance with the objectives of the regulation Refueling European Union aviation By 2030 by signing an agreement with members of the Global Impact Alliance and another with Zafra.

CEO of Moeve, Martin WetselaarHe stressed that the third quarter results reflect the resilience of the business: “Our diversified portfolio and strong operating results have allowed us to maintain strong cash flow. More than 50% of our investments are already directed towards the energy transition, which is a clear example of our commitment to sustainable growth and European leadership in clean energy.”

Quarterly EBITDA on the rise thanks to the energy business

In the third quarter of 2025, Moive reached a level of Adjusted CCS EBITDA of €459 millionabove 383 million recorded in the same period of the previous year. This growth is explained by improvement Refining margins And the high Usage rates In the energy sector, factors that offset the decline in results in the chemicals area.

he Cash flow from operations rose to 479 million eurosan increase of 52% from the third quarter of 2024, reflecting strong cash conversion. the Quarterly investments They arrived at 255 million eurosWith 54% allocated to energy transition projects, including the development of a second generation plant and the new installation of Isopropyl alcohol (IPA) In Huelva, in addition to expanding the network Ultra-fast chargers In Spain and Portugal.

Sections: Energy drives growth; Chemistry, exploration and production decline

Energy: Strong increase in margins

Energy Business received an A Adjusted CCS EBITDA of €411 million49% more year on year. the Refining margins It was present in $8.9 per barrelin front of $4.7 per barrel For the same period in 2024, the usage rate reached a noticeable level 94%. the Commercial product sales They grew up 4.7 metric tons.

Chemistry: Effect due to low phenol margins

The Chemical Division registered A EBITDA of €31 millionCompared to 68 million in the previous year, affected by lower margins in the phenol segment. Sales volume was 582 kilotons.

Exploration and production: decline due to crude oil prices

Exploration and production business received a Adjusted CCS EBITDA of 61 millionbelow 85 million in the third quarter of 2024, due to the decline in oil prices that moved from $79.7 per barrel to $70 per barrel.