In the first quarter of 2025, Columbus Energy achieved revenues of PLN 68.9 million and generated an EBITDA of PLN 2.8 million. Additionally, the Company has already signed 17,000 contracts valued at PLN 1.8 billion for the implementation of the Clean Air program.
According to the quarterly report published yesterday by the Columbus Energy Capital Group, the Group recorded revenues of PLN 68.1 million in Q1 2025, with a consolidated EBITDA of -PLN 3.3 million. Individually, Columbus posted revenues of PLN 68.9 million and an EBITDA profit of PLN 2.8 million.
“The Q1 results reflect Columbus’ preparation for the boom related to the new versions of the Clean Air and My Electricity programs. We are building a contract base, verifying them, and preparing for execution. We have introduced a new standard for comprehensive thermal modernization, and in the second half of the year, we plan a strong focus on project implementation and process improvements. As a result of our efforts so far, we have signed 17,000 contracts for the Clean Air program. The total contract value of PLN 1.8 billion gross should translate into solid revenues with reasonable margins,” explains Dawid Zieliński, CEO of Columbus Energy S.A.
The Management Board reminds that the Clean Air program was suspended for six months and, after resuming, still requires fine-tuning to become efficient, fast, and smooth. Nevertheless, executing this project remains the Company’s top priority in the coming quarters.
“We are working on working capital financing for this project, and to make this happen, we need to accelerate activities related to refinancing/selling investment assets and freeing up the Group’s balance sheet for institutional financing. We have taken steps to rationally and in cooperation with our investor — DC24 — bring Columbus to a state where it will be able to generate revenues corresponding to the market potential of Clean Air,” emphasizes the CEO of Columbus.
In the Letter to Shareholders, the Management Board also addressed the issue of Saule and the media accusations made by Olga Malinkiewicz against Columbus and DC24.
“Our comment is simple: we are sorry. We are conducting a financial audit, a legal audit of investment agreements, and—most importantly—a technology audit with the Saule leadership team. The results of this process will show whether our intuition was correct and whether the patience of both us and DC24 has not been excessive. Saule requires significant recapitalization to be able to develop. We hope that our calm and rational response to this unusual situation, triggered by the emotions of one person, will result in a time of good decisions for the Saule team, its technology, and the company itself,” explains Dawid Zieliński.
Source: CEO.com.pl
