AQUILA EUROPEAN RENEWABLES PLC

• ◆

  Material uncertainty over going concern

  Following the General Meeting held on 30 September 2024 at which shareholders unanimously voted in favour of the discontinuation of the Company and a change in the Company Objective and Investment Policy in order to facilitate the Managed Wind-Down of the Company, the process for an orderly realisation of the Company's assets and a return of capital to shareholders began in September 2024 and is expected to conclude over a number of years. There is, however, a material uncertainty over whether the Company will be in existence in its current form twelve-months from the date of approval of the financial statements, should the Managed Wind-Down process conclude during that time period. These conditions, along with the other matters explained in note 2 to the financial statements, indicate the existence of a material uncertainty which may cast significant doubt about the Company's ability to continue as a going concern.

• ·

  Going-concern uncertainty disclosed

Figures converted to GBP from EUR at 0.857 per EUR (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers

Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. AQUILA EUROPEAN RENEWABLES PLC 2022-11-03 → present
2. AQUILA EUROPEAN RENEWABLES INCOME FUND PLC 2019-04-30 → 2022-11-03
3. AQUILA EUROPEAN RENEWABLES INCOME PLC 2019-04-08 → 2019-04-30

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Following the General Meeting held on 30 September 2024 at which shareholders unanimously voted in favour of the discontinuation of the Company and a change in the Company Objective and Investment Policy in order to facilitate the Managed Wind-Down of the Company, the process for an orderly realisation of the Company's assets and a return of capital to shareholders began in September 2024 and is expected to conclude over a number of years. There is, however, a material uncertainty over whether the Company will be in existence in its current form twelve-months from the date of approval of the financial statements, should the Managed Wind-Down process conclude during that time period. These conditions, along with the other matters explained in note 2 to the financial statements, indicate the existence of a material uncertainty which may cast significant doubt about the Company's ability to continue as a going concern.”

Group structure

1. AQUILA EUROPEAN RENEWABLES PLC · parent
   1. Salto Wind No 2 Ltd 100% · Ireland · owns investment in Olhava
   2. Astroarres Irreversibles Unipessoal Lda 100% · Portugal · owns investment in Benfica III
   3. Palea Solar Farm Ourique S.A. 50% · Portugal · Joint venture entity, owns equity investment in Ourique
   4. Argeo Solar S.L. 100% · Spain · owns investment in Albeniz
   5. Vector Aiolliki Desfinas S.A. 89% · Greece · owns equity investment in Desfina
   6. Ega Solar S.L. 100% · Spain · owns investment in Tiza
   7. Azalent Investment SL 100% · Spain · owns investment in Greco

Significant events

• “On 28 July 2025, the Company announced the completion of the sale of its 18% interest in the Portuguese hydropower asset referred to as Sagres for a cash consideration of EUR 14.7 million.”
• “On 11 September 2025 the Company announced the cancellation of the amount standing to the credit of its share premium account... and the distributable reserves resulting from the Share Premium Cancellation have been treated as profits available for distribution by the Company.”
• “On 15 December 2025, the Company announced that the sale of the Danish wind assets (Holmen II and Svindbaek) had completed and that the Company is in receipt of sales proceeds of EUR 36.6 million.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

19

last 12 months

Capital events

8

last 24 months

Officers appointed

2

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.