Asta Energy Solutions AG shares advanced about 8% on Thursday after the company reported a 54.2% increase in first-half core profit, citing strong demand across Europe, America and Asia.
The Frankfurt-listed firm posted adjusted EBITDA of €37.0 million for the six months ended June 30, up from €24.0 million a year earlier. Net sales rose 22.2% to €435.8 million, while net profit surged 125% to €22.5 million from €10.0 million in the prior-year period.
The company attributed the performance to higher margins and increased sales volumes, driven by the global expansion of power grids and rising integration of renewable energy sources. Demand for power transformers has strengthened as economies accelerate electrification efforts, Asta Energy said in a statement.
On August 18, Asta Energy raised its full-year adjusted EBITDA guidance to a range of €60 million to €64 million, up from the previous €55 million to €59 million range. The updated outlook reflects the stronger-than-expected first-half performance and sustained demand trends.
Shares of Asta Energy, which trades under the ticker ETR:1ASTG, closed at €58.20 on Wednesday, up 7.78% or €4.20 from the prior session.
