Q4 2025 Boralex Inc Earnings Call Transcript
Key Points
- Boralex Inc (BRLXF) reported an 8% increase in total combined production for fiscal year 2025 compared to 2024.
- The company successfully commissioned several projects, including the Limekiln wind farm in the UK and the Apuiat wind farm in Quebec.
- Boralex Inc (BRLXF) expanded its development portfolio to exceed 8.2 gigawatts, with an installed capacity increase of 615 megawatts driven by organic growth.
- The company achieved significant progress in battery energy storage, commissioning the largest battery storage project in Canada.
- Boralex Inc (BRLXF) secured $1 billion in project financing and closed $250 million in corporate financing, enhancing financial flexibility.
- Boralex Inc (BRLXF) experienced a 10% shortfall in anticipated production due to lower wind levels in France and the United States.
- The company's combined EBITDA decreased by 2% from 2024, impacted by lower selling prices in France.
- Production from hydro assets was 23% lower than last year and 30% below expectations due to unfavorable weather conditions.
- The financial performance was negatively affected by lower prices of short-term contracts in France.
- The company faces challenges with the recontracting of assets in Texas and New Mexico, with time running out for tax credit prequalification.
(spoken in foreign language) Good morning, ladies and gentlemen, and welcome to Boralex fourth-quarter 2025 financial results conference call. (Operator Instructions) Please note that the conference is being recorded. (Operator Instructions)
Finally, media representatives are invited to contact Camille Laventure, Senior Advisor, Public Affairs and External Communications at Boralex. Her contact information is provided at the end of the quarterly press release.
And now, I would like to turn the call over to Coline Desurmont, Director, Investor Relations for Boralex. Please go ahead.
Thank you, operator. Good morning, everyone. Welcome to Boralex's fourth-quarter and year-end results conference call. On today's call, Patrick Decostre, our President and Chief Executive Officer, will provide an update of our business. Afterwards, Stephane Milot, our Executive Vice President and Interim Chief Financial Officer, will present the financial highlights of the quarter. Then we will be
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