- Capex spend was €757m in the nine months to September, with 52% dedicated to Energy Transition projects.
- Moeve's cash flow from operations reached €1,131m through September.
- Net debt totaled €2,328m at Sept. 30, 2025, with a net debt-to-EBITDA ratio of 1.7x.
- Moeve signed a Memorandum of Understanding with Zaffra to assess the feasibility of developing one of Southern Europe's largest e-SAF plants in Huelva.
Financial Performance
Moeve reported a Clean CCS EBITDA of €1,192m for the first nine months of 2025, with a stable financial performance. Clean CCS Net Income was €472m, and cash flow from operations reached €1,131m, supporting the Group's Positive Motion transformation strategy.
Investment and Debt
Capital expenditure totaled €757m, with 52% allocated to Energy Transition projects, including a second-generation biofuels plant in Huelva. Net debt was €2,328m as of September 30, 2025, with a net debt-to-EBITDA ratio of 1.7x.
Q3 2025 Highlights
In Q3 2025, Moeve achieved a Clean CCS EBITDA of €459m, driven by higher refining margins and high utilization rates in the Energy segment. Cash flow from operations was €479m, a 52% increase from Q3 2024. Capital expenditure for the quarter was €255m, with 54% dedicated to Energy Transition projects.
Strategic Developments
Moeve became the first external sustainable aviation fuel (SAF) supplier to join Avelia and signed agreements to support e-SAF development. The company also partnered with ID Energy Group to accelerate biomethane development and joined the Global Renewables Alliance to enhance renewable energy technologies.
