Moeve boosts profits as sustainable aviation fuel and energy transition investments accelerate

Moeve has reported a strong financial performance for the first quarter of 2026, driven by robust earnings across its energy businesses and continued investment in sustainable fuels and energy transition projects.

The company posted Clean CCS EBITDA of €506 million, a 34% increase on the €377 million reported in the first quarter of 2025, while Clean CCS Net Income rose 7% to €147 million. The results were achieved against a backdrop of geopolitical uncertainty, volatile energy markets and disruption to global supply chains.

A key highlight of the quarter was Moeve’s progress in sustainable aviation fuel (SAF), reinforcing its ambition to become a leading provider of cleaner transport energy solutions.

During the period, the company supplied more than 515 tonnes of SAF to Condor for flights departing Tenerife South Airport, supporting routes between the Canary Islands and major German cities including Frankfurt, Munich, Hamburg and Düsseldorf.

Moeve also continued to invest heavily in its energy transition strategy, allocating 69% of its €272 million first-quarter capital expenditure to decarbonisation projects in Spain.

Over the past five years, the company has invested more than €2 billion to improve the efficiency and flexibility of its Spanish Energy Parks, strengthening Europe’s energy security and reducing dependence on imported fossil fuels.

Chief executive officer Maarten Wetselaar said the results demonstrated the resilience of the business and reinforced the importance of developing low-carbon energy solutions in Europe.

“Green molecules produced in Europe, for Europe, are becoming increasingly important for energy security and resilience,” he said.

The quarter also marked a major milestone for Moeve’s energy transition plans, with a final investment decision taken on the first phase of the Andalusian Green Hydrogen Valley, set to become southern Europe’s largest green hydrogen project with an initial production capacity of 300 MW.

Operating cash flow reached €283 million, supporting continued investment while maintaining a conservative balance sheet, with net debt remaining stable at 1.6 times EBITDA.

Together with growing SAF deployment and hydrogen development, the results underline Moeve’s commitment to delivering sustainable growth while supporting Europe’s transition to cleaner energy.