Positioned to leverage potential in both Europe and the US
1 July-30 September 2024
- Net sales amounted to 24 (127) MSEK.
- EBIT amounted to -94 (159) MSEK. Write-downs amounting to 40 MSEK for the offshore projects Arkona and Skidbladner affect the results. Profit before tax amounted to -87 (134) MSEK.
- Net profit amounted to -79 (94) MSEK.
- Earnings per share, before and after dilution equaled -3.16 (3.79) SEK.
- At the end of the period, Eolus had 967 (817) MW under asset management.
1 January-30 September 2024
- Net sales amounted to 123 (2,146) MSEK.
- EBIT amounted to -149 (665) MSEK.
- Profit before tax amounted to -161 (625) MSEK.
- Net profit amounted to -161 (502) MSEK.
- Earnings per share, before and after dilution amounted to -6.45 (20.14) SEK.
- At the end of the period Eolus had 967 (817) MW under asset management.
Significant events during the period
- Eolus appointed Åsa Lamm as Chief People & Culture Officer and member of the Group Management. She assumed her position on 16 September 2024
- The Board of Directors resolved to repurchase own shares on Nasdaq Stockholm. The purpose of the repurchase is to secure future delivery of shares to the participants of Eolus’s long-term share savings program. Eolus purchased 18,000 own series B shares in September.
Significant events after the balance sheet date
- Eolus received a substantial milestone payment amounting to 64.7 MUSD for the solar and battery storage project Centennial Flats in the USA. The milestone payment is estimated to have a positive effect on Eolus’s operating profit of USD 51 million in the fourth quarter.
- The Swedish government announced the rejection of 13 applications for offshore wind power projects in the Baltic Sea, including Eolus’s projects Skidbladner (1,000 MW) and Arkona (1,200 MW). Write-downs amounting to 40 MSEK have impacted the third quarter results.
CEO comment
To summarize, we are seeing a split picture, where the situation is challenging in some of Eolus’s European markets, especially in the Nordic region, but the willingness to invest remains strong in the US. After almost 35 years in the industry, Eolus has both experience and stamina, and we feel confident that we can balance a weaker European market with a strong trend in the US.
– Per Witalisson, CEO
Financial Summary
| |
Unit |
Q3 2024 |
Q3 2023 |
9 months 2024 |
9 months 2023 |
Rolling 12 Oct-Sep |
12 months 2023 |
| Net sales |
MSEK |
24 |
127 |
123 |
2,146 |
278 |
2,301 |
| EBIT |
MSEK |
-94 |
159 |
-149 |
665 |
-49 |
764 |
| Profit before tax |
MSEK |
-87 |
134 |
-161 |
625 |
-67 |
719 |
| Net profit |
MSEK |
-79 |
94 |
-161 |
502 |
-90 |
573 |
| Earnings per share before and after dilution |
SEK |
-3.16 |
3.79 |
-6.45 |
20.14 |
-3.59 |
23.00 |
|
|
|
|
|
|
|
|
| Equity per share |
SEK |
52.39 |
59.44 |
52.39 |
59.44 |
52.39 |
60.63 |
| Cashflow from operating activities |
MSEK |
-1,042 |
-369 |
-1,539 |
255 |
-1,946 |
-152 |
| Total assets |
MSEK |
3,989 |
2,709 |
3,989 |
2,709 |
3,989 |
2,807 |
| Net debt – /net cash + |
MSEK |
-1,415 |
522 |
-1,415 |
522 |
-1,415 |
120 |
|
|
|
|
|
|
|
|
| Order backlog |
MSEK |
832 |
726 |
832 |
726 |
832 |
665 |
| Project under construction |
MW |
456 |
394 |
456 |
394 |
456 |
368 |
| Taken into operation and handed over to customer |
MW |
0 |
0 |
0 |
400 |
125 |
525 |
| Project portfolio |
MW |
26,251 |
25,468 |
26,251 |
25,468 |
26,251 |
26,836 |
| Managed turbines |
MW |
967 |
817 |
967 |
817 |
967 |
941 |
|
|
|
|
|
|
|
|
| Equity/assets ratio |
% |
35 |
57 |
35 |
57 |
35 |
56 |
| Return on equity after tax |
% |
neg |
45 |
neg |
45 |
neg |
46 |
Presentation of the report
At 10:00 today, CEO Per Witalisson and CFO Catharina Persson will present the report via a webcast with telephone conference.
In connection with the presentation, it will be possible to ask questions through the teleconference or in written form through the webcast. The presentation will be held in English.
Webcast
If you wish to participate via webcast, please use the link below:
https://ir.financialhearings.com/eolus-q3-report-2024
Via the webcast you can ask written questions.
Teleconference
If you wish to participate via teleconference, please register on the link below:
https://conference.financialhearings.com/teleconference/?id=50049446
After registration you will be provided phone number and a conference ID to access the conference.
You can ask questions verbally via the teleconference.
Positive quarter with focus on completion of projects
1 July–30 September 2023
- Net sales amounted to 127 (111) MSEK.
- EBIT amounted to 159 (-8) MSEK. Profit before tax amounted to 134 (-11) MSEK.
- Net profit amounted to 94 (-11) MSEK.
- Earnings per share, before and after dilution equaled 3.79 (-0.45) SEK.
- At the end of the period Eolus had 817 (882) MW under asset management.
1 January–30 September 2023
- Net sales amounted to 2,146 (1,991) MSEK.
- EBIT amounted to 665 (54) MSEK. Profit before tax amounted to 625 (51) MSEK.
- Net profit amounted to 502 (75) MSEK
- Earnings per share, before and after dilution equaled 20.14 (-1.88) SEK.
- At the end of the period Eolus had 817 (882) MW under asset management.
Significant events during the period
- Eolus made an investment decision for the 100 MW battery storage project Pome in US and signed an agreement regarding supply of a battery energy storage system.
- Eolus submitted the permit application to the government and the Land and Environment Court for the 1,000 MW Västvind wind power project located west of Gothenburg.
- Michiel Messing, Head of Construction, left Eolus’s Group Management in July and concluded his employment in October.
- To create the best conditions for permitting and realization of the offshore projects, Eolus initiated a strategic review of its offshore wind power business.
- Tiina Partanen took office as new Country Manager in Finland on 10 August.
Significant events after the balance sheet date
- An arbitration award in a case regarding the Kråktorpet and Nylandsbergen wind projects was announced. The award positively affected Eolus’s pre-tax profit for the third quarter with 85 MSEK. Cash flow will be negatively affected by SEK 28 million in the fourth quarter.
- Eolus signed a letter of intent with Volvo Cars for collaboration on the Västvind offshore project.
- Eolus submitted the permit application to the government for the 1,400 MW offshore wind project Arkona off Sweden’s southern coast.
Financial summary
|
Unit |
Q3 2023 |
Q3 2022 |
9 months 2023 |
9 months 2022 |
Rolling 12 Oct-Sep |
Full year 2022 |
| Net sales |
MSEK |
127 |
111 |
2,146 |
1,991 |
2,511 |
2,356 |
| EBIT |
MSEK |
159 |
-8 |
665 |
54 |
691 |
80 |
| Profit before tax |
MSEK |
134 |
-11 |
625 |
51 |
684 |
109 |
| Net profit |
MSEK |
94 |
-11 |
502 |
75 |
543 |
116 |
| Earnings per share before and after dilution |
SEK |
3.79 |
-0.45 |
20.14 |
-1.88 |
21.81 |
-0.22 |
|
|
|
|
|
|
|
|
| Equity per share |
SEK |
59.44 |
38.25 |
59.44 |
38.25 |
59.44 |
39.49 |
| Cashflow from operating activities |
MSEK |
-369 |
-204 |
255 |
-53 |
116 |
-191 |
| Total assets |
MSEK |
2,709 |
1,880 |
2,709 |
1,880 |
2,709 |
1,919 |
| Net debt – /net cash + |
MSEK |
300 |
401 |
300 |
401 |
300 |
258 |
|
|
|
|
|
|
|
|
| Order backlog |
MSEK |
726 |
682 |
726 |
682 |
726 |
1,329 |
| Project under construction |
MW |
394 |
786 |
394 |
786 |
394 |
794 |
| Taken into operation and handed over to customer |
MW |
0 |
0 |
400 |
0 |
400 |
0 |
| Project portfolio |
MW |
25,467 |
17,843 |
25,467 |
17,843 |
25,467 |
21,880 |
| Managed turbines |
MW |
817 |
882 |
817 |
882 |
817 |
882 |
|
|
|
|
|
|
|
|
| Equity/assets ratio |
% |
57 |
54 |
57 |
54 |
57 |
54 |
| Return on equity after tax |
% |
45 |
neg |
45 |
neg |
45 |
neg |
| |
|
|
|
|
|
|
|
Presentation of the report
At 10:00 today, CEO Per Witalisson and CFO Catharina Persson will present the report via a webcast with telephone conference.
In connection with the presentation, it will be possible to ask questions through the teleconference or in written form through the webcast. The presentation will be held in English.
Webcast:
If you wish to participate via webcast, please use the link below:
https://ir.financialhearings.com/eolus-q3-2023
Via the webcast you can ask written questions.
Teleconference:
If you wish to participate via teleconference, please register on the link below:
https://conference.financialhearings.com/teleconference/?id=5002564
After registration you will be provided phone number and a conference ID to access the conference.
You can ask questions verbally via the teleconference.
1 July–30 September 2022
- Net sales amounted to 111 (691) MSEK.
- EBIT amounted to -8 (0) MSEK. Profit before tax amounted to -11(-5) MSEK.
- Net profit amounted to -11 (2) MSEK, of which -11 MSEK is attributable to Eolus’s shareholders after reduction of the minority stakeholders’ part.
- Earnings per share, before and after dilution equaled -0.45 (0.19) SEK.
- During the period, energy facilities with a total installed capacity of 0 (0) MW were taken into operations and handed over to customer.
- At the end of the period Eolus had 882 (921) MW under asset management.
1 January–30 September 2022
- Net sales amounted to 1 991 (1 606) MSEK.
- EBIT amounted to 54 (-21) MSEK. Profit before tax amounted to 51 (-30) MSEK.
- Net profit amounted to 75 (-17) MSEK, of which -47 MSEK is attributable to Eolus’s shareholders after reduction of the minority stakeholders’ part.
- Earnings per share, before and after dilution equaled -1.88 (-0.55) SEK.
- During the period, energy facilities with a total installed capacity of 0 (47) MW were taken into operations and handed over to customer.
- At the end of the period Eolus had 882 (921) MW under asset management.
Significant events during the period
- Eolus secured funding of SEK 1,500 million by signing credit facilities with Swedbank totaling SEK 1,200 million and increasing its credit agreement with the Swedish Export Credit Corporation to SEK 300 million.
- From September 1, Eolus expanded the Group Management with Michiel Messing, Head of Delivery & Construction, Heléne Sebrén, Head of HR and Magnus Axelsson, new Chief Operating Officer.
Significant events after the balance sheet date
- In October, Eolus sold a solar and battery storage project located in Arizona, US, which is expected to have an initial aggregate capacity of 750 MWac solar photovoltaic generation and battery storage capacity. Commissioning is planned for 2025. Eolus has received an initial payment of USD 12 million.
- Inga Abolina was appointed Head of Baltics and took office on 24 October 2022.
| Financial summary |
|
Q3 |
Q3 |
9 months |
9 months |
Rolling 12 |
Full year |
| |
Unit |
2022 |
2021 |
2022 |
2021 |
Oct-Sep |
2021 |
| Net sales |
MSEK |
111 |
691 |
1 991 |
1 606 |
2 999 |
2 614 |
| EBIT |
MSEK |
-8 |
0 |
54 |
-21 |
49 |
-25 |
| Profit before tax |
MSEK |
-11 |
-5 |
51 |
-30 |
41 |
-40 |
| Net profit |
MSEK |
-11 |
2 |
75 |
-17 |
69 |
-24 |
| Earnings per share before and after dilution |
SEK |
-0,45 |
0,19 |
-1,88 |
-0,55 |
-2,08 |
-0,74 |
| |
|
|
|
|
|
|
|
| Equity per share |
SEK |
38,25 |
39,55 |
38,25 |
39,55 |
38,25 |
39,50 |
| Cashflow from operating activities |
MSEK |
-204 |
-30 |
-53 |
284 |
-433 |
-97 |
| Total assets |
MSEK |
1 880 |
1 844 |
1 880 |
1 844 |
1 880 |
1 885 |
| Net debt – /net cash + |
MSEK |
401 |
532 |
401 |
532 |
401 |
439 |
| |
|
|
|
|
|
|
|
| Order backlog |
MSEK |
682 |
3 658 |
682 |
3 658 |
682 |
1 793 |
| Project under construction |
MW |
786 |
477 |
786 |
477 |
786 |
737 |
| Taken into operation and handed over to customer |
MW |
0 |
0 |
0 |
47 |
0 |
47 |
| Project portfolio |
MW |
17 843 |
9 057 |
17 843 |
9 057 |
17 843 |
13 823 |
| Managed turbines |
MW |
882 |
921 |
882 |
921 |
882 |
914 |
| |
|
|
|
|
|
|
|
| Equity/assets ratio |
% |
54 |
54 |
54 |
54 |
54 |
67 |
| Return on equity after tax |
% |
neg |
0,2 |
neg |
0,2 |
neg |
neg |
Presentation of the report
At 10:00 today, CEO Per Witalisson and CFO Catharina Persson will present the report via a webcast with telephone conference.
Conference call:
From Sweden: +46 8 566 426 92
From United Kingdom: +44 3333 009 032
From the United States: +1 646 722 4904
Link to webcast:
https://ir.financialhearings.com/eolus-q3-2022
For further information, please contact:
Per Witalisson, CEO, +46 (0)702 65 16 15
Catharina Persson, CFO, +46 (0)709 32 97 77
Karin Wittsell Heydl, Head of Communications & Sustainability, +46 (0)761 16 71 99
This information is of such a kind that Eolus Vind AB (publ) is legally required to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of Head of Communications and Sustainability Karin Wittsell Heydl on 17 November 2022, at 08:30 CET.
ABOUT EOLUS
Eolus is one of the leading developers of renewable energy in the Nordics and we are active in the whole value chain from development of green field projects to construction and operation of renewable projects. We offer attractive and competitive investments in the Nordic and Baltic countries, Poland and the United States. Founded in 1990, Eolus has constructed 666 wind turbines with a capacity of 1 414 MW. Eolus has signed contracts for 1,550 MW of asset management services of which 882 MW are in operation.
Eolus’ Class B share is traded on Nasdaq Stockholm Mid Cap. For further information, please visit www.eolusvind.com.
Hässleholm, Sweden, November 18, 2021
3 Months July 2021 – September 2021
- Net sales 690.9 (383.7) MSEK.
- EBIT 0.3 (57.0) MSEK. Profit before tax -4.9 (42.7) MSEK. Net profit 1.5 (38.5) MSEK.
- Earnings per share, before and after dilution equals 0.19 (1.54) SEK.
- During the period 0 (38) wind turbines with a total installed capacity of 0 (160) MW were taken into operations and handed over to customer.
- At the end of the period Eolus had 921 (903) MW under asset management.
9 Months January 2021 – September 2021
- Net sales 1 605.5 (933.6) MSEK.
- EBIT -21.0 (-1.0) MSEK. Profit before tax -30.3 (-22.5) MSEK. Net profit -16.8 (-2.5) MSEK.
- Earnings per share, before and after dilution equals -0.55 (-0.10) SEK.
- During the four months period 13 (38) wind turbines were taken into operations with a total installed capacity of 47 (160) MW.
- During the four months period the equivalent of 13 (40) wind turbines with an installed capacity of 47 (162) MW was handed over to customers.
- At the end of the period Eolus had 921 (903) MW under asset management.
- Eolus financial year has changed from September 1st – August 31st to January 1st – December 31st. During the financial year that ended December 31st 2020 the presented periods where based on a prolonged financial year starting September 1st 2019. During 2021 the comparative figures will be presented for quarters corresponding to the period in year 2020. It means that comparative periods during 2021 will correspond to interim periods that have not been presented before.
Significant events after the balance sheet date
- In October the investor Commerz Real terminated the share purchase agreement for an agreement regarding three wind farms in Sweden with an installed capacity of 68 MW due to conditions for the transaction not being fulfilled. No revenue from the agreement have been recognized by Eolus and a new sales process has been initiated.
| Financial summary |
Interim |
Interim |
9 month |
9 month |
Rolling 12 |
Full year |
| |
Jul 2021 |
Jul 2020 |
Jan 2021 |
Jan 2020 |
Oct 2020 |
Sep 2019 |
| |
-Sep 2021 |
-Sep 2020 |
-Sep 2021 |
-Sep 2020 |
-Sep 2021 |
-Dec 2020 |
| Net sales, MSEK |
690,9 |
383,7 |
1 605,5 |
933,6 |
2 674,7 |
2 468,6 |
| EBIT, MSEK |
0,3 |
57,0 |
-21,0 |
-1,0 |
49,1 |
280,0 |
| Profit before tax, MSEK |
-4,9 |
42,7 |
-30,3 |
-22,5 |
-6,1 |
182,6 |
| Net profit, MSEK |
1,5 |
38,5 |
-16,8 |
-2,5 |
-1,1 |
198,3 |
| Earnings per share before and after dilution, SEK |
0,19 |
1,54 |
-0,55 |
-0,10 |
-0,04 |
7,96 |
| |
|
|
|
|
|
|
| Equity per share, SEK |
39,55 |
40,96 |
39,55 |
40,96 |
39,55 |
41,63 |
| Cashflow from operating activities, MSEK |
-30,3 |
88,0 |
283,8 |
-144,6 |
175,5 |
-483,7 |
| Total assets, MSEK |
1 844,3 |
1 870,4 |
1 844,3 |
1 870,4 |
1 844,3 |
1 808,2 |
| Net debt – /net cash +, MSEK |
532,3 |
390,5 |
532,3 |
390,5 |
532,3 |
304,2 |
| Signed customer contracts, MSEK |
3 657,7 |
5 440,8 |
3 657,7 |
5 440,8 |
3 657,7 |
5 130,9 |
| |
|
|
|
|
|
|
| No of turbines taken into operation, amount |
0 |
38 |
13 |
38 |
13 |
81 |
| No of turbines handed over to customers, amount |
0 |
38 |
13 |
40 |
13 |
83 |
| Turbines taken into operation, MW |
0 |
160 |
47 |
160 |
47 |
324 |
| Turbines handed over to customers, MW |
0 |
160 |
47 |
162 |
47 |
325 |
| Managed turbines, MW |
921 |
903 |
921 |
903 |
921 |
903 |
| |
|
|
|
|
|
|
| Equity/assets ratio, % |
53,7 |
54,5 |
53,7 |
54,5 |
53,7 |
57,3 |
| Return on equity after tax, % |
0,2 |
17,7 |
0,2 |
17,7 |
0,2 |
20,6** |
| **return on equity after tax is calculated for 16 months earnings relative to avarage equity. |
|
|
|
|
For further information contact:
Per Witalisson, CEO, +46 70-265 16 15
Catharina Persson, CFO, +46 70-932 97 77
Johan Hammarqvist, Head of Communications, +46 720 50 59 11
The information in this press release is disclosed pursuant to the EU Market Abuse Regulation. The information was released for public disclosure through the agency of head of communication Johan Hammarqvist on November 18th, 2021 at 8.30 AM CET.
About Eolus:
Eolus Vind AB is one of the leading wind power developers in the Nordics. Eolus is active in the whole value chain from development of green field projects to construction and operation of wind farms. Eolus offers attractive and competitive investments in the Nordic and Baltic countries, Poland as well as the United States to both local and international investors. Founded in 1990, Eolus has constructed 666 wind turbines with a capacity of 1 414 MW. Eolus has signed contracts for about 1 330 MW of asset management services of which 921 MW are in operation and the rest under construction.
Eolus Vind AB has 36 500 shareholders. Eolus shares are listed at Nasdaq Stockholm.
For more information about Eolus, please visit www.eolusvind.com
Hässleholm, Sweden, July 8, 2020
3 Months March 2020 – May 2020
- Net sales 380.6 (520.3) MSEK.
- EBIT 38.1 (10.9) MSEK. Profit before tax 13.5 (10.0) MSEK. Net profit 17.6 (12.2) MSEK.
- Earnings per share, before and after dilution equals 0.71 (0.49) SEK.
- During the three month period 0 (0) wind turbines were taken into operations with a total installed capacity of 0 (0) MW.
- During the three month period the equivalent of 0 (1) wind turbines with an installed capacity of 0 (2.0) MW was handed over to customers.
- At the end of the period Eolus had 687 (421) MW under asset management.
- In March 2020 the project company Øyfjellet Wind AS, which Eolus has a construction management agreement with, signed a turbine supply agreement with Nordex regarding 72 wind turbines of the model N149 with a total installed capacity of 400 MW. A 20-year Premium Service contract with options for extension was also signed.
Significant events after the balance sheet date
- In July Eolus signed a cooperation agreement with SCA regarding development of wind power projects. Under the cooperation agreement Eolus and SCA will initiate joint development of a number of projects and Eolus will also be able to sign land lease agreements in other identified projects areas. The goal is to reach around 1 000 MW of projects for realization in Sweden, Estonia and Latvia.
| Financial summary |
Interim |
Interim |
6 month |
6 month |
Full year |
| Mar 2020 |
Mar 2019 |
Sep 2019 |
Sep 2018 |
Sep 2018 |
| |
-May 2020 |
-May 2019 |
-May 2020 |
-May 2019 |
-Aug 2019 |
| Net sales, MSEK |
380,6 |
520,3 |
934,3 |
998,2 |
2 031,9 |
| EBIT, MSEK |
38,1 |
10,9 |
143,4 |
46,4 |
118,3 |
| Profit before tax, MSEK |
13,5 |
10,0 |
108,7 |
43,3 |
116,0 |
| Changes in market valuation of financial derivatives, MSEK |
32,2 |
-18,7 |
52,2 |
-39,9 |
-24,9 |
| Net profit, MSEK |
17,6 |
12,2 |
135,4 |
51,8 |
132,8 |
| Earnings per share before and after dilution, SEK |
0,71 |
0,49 |
5,44 |
2,08 |
5,33 |
| Equity per share, SEK |
39,40 |
32,43 |
39,40 |
32,43 |
35,65 |
| Cashflow from operating activities, MSEK |
37,8 |
-328,1 |
-362,2 |
-353,9 |
566,6 |
| Total assets, MSEK |
2 073,6 |
2 211,1 |
2 073,6 |
2 211,1 |
2 057,8 |
| Net debt – /net cash +, MSEK |
373,1 |
-120,4 |
373,1 |
-120,4 |
800,1 |
| Signed customer contracts, MSEK |
4 826,0 |
2 691,6 |
4 826,0 |
2 691,6 |
1 348,9 |
| No of turbines taken into operation, amount |
0,0 |
0,0 |
43,0 |
3,0 |
31,0 |
| No of turbines handed over to customers, amount |
0,0 |
1,0 |
44,0 |
5,0 |
34,0 |
| Turbines taken into operation, MW |
0,0 |
0,0 |
163,4 |
10,8 |
115,2 |
| Turbines handed over to customers, MW |
0,0 |
2,0 |
164,2 |
14,8 |
120,0 |
| Managed turbines, MW |
687 |
421 |
687 |
421 |
524 |
| Equity/assets ratio, % |
47,3 |
36,6 |
47,3 |
36,6 |
43,2 |
| Return on equity after tax, % |
24,2 |
28,3 |
24,2 |
28,3 |
15,6 |
Change of the company’s financial year
Eolus is planning for an Extraordinary General Meeting (EGM) Thursday August 27th. The Board of Directors will propose the that EGM resolves to change the company’s financial year to run from 1 January to 31 December, instead of 1 September to 31 August. The current financial year is extended to cover a period of 16 months, that is, until 31 December 2020. Five financial statements will be given and the fifth will cover four months, 1 September – 31 December 2020. Annual report for the extended financial year will be given during the spring of 2021.
For further information contact:
Per Witalisson, CEO, +46 10 199 88 02
Catharina Persson, CFO, +46 70 932 97 77
Johan Hammarqvist, head of communications, +46 10 199 88 10
The information in this press release is disclosed pursuant to the EU Market Abuse Regulation. The information was released for public disclosure through the agency of head of communication Johan Hammarqvist on July 8th 2020, at 8.30 AM CET.
About Eolus:
Eolus Vind AB is one of the leading wind power developers in the Nordics. Eolus is active in the whole value chain from development of green field projects to construction and operation of wind farms. Eolus offers attractive and competitive investments in the Nordic and Baltic countries as well as the United States to both local and international investors. Founded in 1990, Eolus has constructed 615 wind turbines with a capacity of over 1 200 MW. Eolus has signed contracts for about 1 300 MW of asset management services of which some 745 MW is in operation.
Eolus Vind AB has about 26 000 shareholders. Eolus shares are listed at Nasdaq Stockholm.
For more information about Eolus, please visit www.eolusvind.com
In the previous press release sent out at 8.30 AM CET financial numbers for Q3 was missing in the table with the financial summary and some definitions were in Swedish. The extract of the interim report contained the full information.
Hässleholm, Sweden, July 4th, 2019
3 Months March 2019 – May 2019
- Net sales 520.3 (22.6) MSEK.
- EBIT 10.9 (-10.0) MSEK. Profit before tax 10.0 (-5.7) MSEK. Net profit 12.2 (-4.6) MSEK.
- Earnings per share, before and after dilution equals 0.49 (-0.18) SEK.
- During the three month period 0 (0) wind turbines were taken into operations with a total installed capacity of 0.0 (0.0) MW.
- During the three month period the equivalent of 1.0 (1.8) wind turbines with an installed capacity of 2.0 (1.4) MW was handed over to customers.
- At the end of the period Eolus had 421 (337) MW under asset management.
- Electricity production from wind farms owned was 3.3 (6.3) GWh with an average revenue of 454 (532) SEK/MWh.
Significant events after the balance sheet date
- In June Eolus signed an agreement with Vestas for delivery of up to 13 wind turbines for Wind Wall 1 Project in California.
| Financial summary |
Q3 |
Q3 |
Q1-Q3 |
Q1-Q3 |
Full year |
| |
Mar 2019 |
Mar 2018 |
Sep 2018 |
Sep 2017 |
Sep 2017 |
| |
-May 2019 |
-May 2018 |
-May 2019 |
-May 2018 |
-Aug 2018 |
| Net sales, MSEK |
520,3 |
22,6 |
998,2 |
180,2 |
1 366,0 |
| EBIT, MSEK |
10,9 |
-10,0 |
46,4 |
23,0 |
202,4 |
| Profit before tax, MSEK |
10,0 |
-5,7 |
43,3 |
31,8 |
198,9 |
| Changes in market valuation of financial derivatives, MSEK |
-18,7 |
-0,6 |
-39,9 |
4,0 |
2,5 |
| Net profit, MSEK |
12,2 |
-4,6 |
51,8 |
38,7 |
194,3 |
| Earnings per share before and after dilution, SEK |
0,49 |
-0,18 |
2,08 |
1,56 |
7,81 |
| Equity per share, SEK |
32,43 |
26,45 |
32,43 |
26,45 |
32,68 |
| Cashflow from operating activities, MSEK |
-328,1 |
-356,1 |
-353,9 |
-645,0 |
241,7 |
| Total assets, MSEK |
2 211,1 |
1 605,8 |
2 211,1 |
1 605,8 |
1 895,0 |
| Net debt – /net cash +, MSEK |
-120,4 |
-515,1 |
-120,4 |
-515,1 |
371,1 |
| Signed customer contracts, MSEK |
2 691,6 |
3 885,0 |
2 691,6 |
3 885,0 |
2 887,5 |
| No of turbines taken into operation, amount |
– |
– |
3,0 |
2,0 |
25,0 |
| No of turbines handed over to customers, amount |
1,0 |
1,8 |
5,0 |
5,2 |
30,8 |
| Turbines taken into operation, MW |
– |
– |
10,8 |
4,4 |
83,8 |
| Turbines handed over to customers, MW |
2,0 |
1,4 |
14,8 |
8,9 |
93,3 |
| Managed turbines, MW |
421 |
337 |
421 |
337 |
415 |
| Electricity generation, GWh |
3,3 |
6,3 |
10,2 |
25,1 |
30,2 |
| Equity/assets ratio, % |
36,6 |
41,1 |
36,6 |
41,1 |
43,1 |
| Return on equity after tax, % |
28,3 |
7,9 |
28,3 |
7,9 |
26,4 |
For further information contact:
Per Witalisson, CEO, +46 10 199 88 02
Catharina Persson, CFO, +46 10 199 88 17
Johan Hammarqvist, head of communications, +46 10 199 88 10
About Eolus:
Eolus Vind AB is one of the leading wind power developers in the Nordics. Eolus is active in the whole value chain from development of green field projects to construction and operation of wind farms. Eolus offers attractive and competitive investments in the Nordic and Baltic countries as well as the United States to both local and international investors. Founded in 1990, Eolus has constructed more than 540 wind turbines of the approximately 3 600 wind turbines operating in Sweden. Eolus has signed contracts for over 800 MW of asset management services of which 420 MW is in operation.
Eolus Vind AB has about 11 500 shareholders. Eolus shares are listed at Nasdaq Stockholm.
For more information about Eolus, please visit www.eolusvind.com
Attachment
Hässleholm, Sweden, July 4th, 2019
3 Months March 2019 – May 2019
- Net sales 520.3 (22.6) MSEK.
- EBIT 10.9 (-10.0) MSEK. Profit before tax 10.0 (-5.7) MSEK. Net profit 12.2 (-4.6) MSEK.
- Earnings per share, before and after dilution equals 0.49 (-0.18) SEK.
- During the three month period 0 (0) wind turbines were taken into operations with a total installed capacity of 0.0 (0.0) MW.
- During the three month period the equivalent of 1.0 (1.8) wind turbines with an installed capacity of 2.0 (1.4) MW was handed over to customers.
- At the end of the period Eolus had 421 (337) MW under asset management.
- Electricity production from wind farms owned was 3.3 (6.3) GWh with an average revenue of 454 (532) SEK/MWh.
Significant events after the balance sheet date
- In June Eolus signed an agreement with Vestas for delivery of up to 13 wind turbines for Wind Wall 1 Project in California.
| Financial summery |
Q3 |
Q1-Q3 |
Q1-Q3 |
Full year |
| |
Mar 2018 |
Sep 2018 |
Sep 2017 |
Sep 2017 |
| |
-May 2018 |
-May 2019 |
-May 2018 |
-Aug 2018 |
| Net sales, MSEK |
22,6 |
998,2 |
180,2 |
1 366,0 |
| EBIT, MSEK |
-10,0 |
46,4 |
23,0 |
202,4 |
| Profit before tax, MSEK |
-5,7 |
43,3 |
31,8 |
198,9 |
| Värdeförändringar derivat före skatt, MSEK |
-0,6 |
-39,9 |
4,0 |
2,5 |
| Net profit, MSEK |
-4,6 |
51,8 |
38,7 |
194,3 |
| Resultat per aktie före/efter utspädning, SEK |
-0,18 |
2,08 |
1,56 |
7,81 |
| Eget kapital per aktie, SEK |
26,45 |
32,43 |
26,45 |
32,68 |
| Cashflow from operating activities, MSEK |
-356,1 |
-353,9 |
-645,0 |
241,7 |
| Total assets, MSEK |
1 605,8 |
2 211,1 |
1 605,8 |
1 895,0 |
| Nettoskuld – /nettokassa +, MSEK |
-515,1 |
-120,4 |
-515,1 |
371,1 |
| Signed customer contracts, MSEK |
3 885,0 |
2 691,6 |
3 885,0 |
2 887,5 |
| No of turbines taken into operation, amount |
– |
3,0 |
2,0 |
25,0 |
| No of turbines handed over to customers, amount |
1,8 |
5,0 |
5,2 |
30,8 |
| Turbines taken into operation, MW |
– |
10,8 |
4,4 |
83,8 |
| Turbines handed over to customers, MW |
1,4 |
14,8 |
8,9 |
93,3 |
| Managed turbines, MW |
337 |
421 |
337 |
415 |
| Electricity generation, GWh |
6,3 |
10,2 |
25,1 |
30,2 |
| Soliditet, % |
41,1 |
36,6 |
41,1 |
43,1 |
| Return on equity after tax, % |
7,9 |
28,3 |
7,9 |
26,4 |
For further information contact:
Per Witalisson, CEO, +46 10 199 88 02
Catharina Persson, CFO, +46 10 199 88 17
Johan Hammarqvist, head of communications, +46 10 199 88 10
The information in this press release is disclosed pursuant to the EU Market Abuse Regulation. The information was released for public disclosure through the agency of head of communication Johan Hammarqvist on July 4th, 2019, at 8.30 AM CET.
About Eolus:
Eolus Vind AB is one of the leading wind power developers in the Nordics. Eolus is active in the whole value chain from development of green field projects to construction and operation of wind farms. Eolus offers attractive and competitive investments in the Nordic and Baltic countries as well as the United States to both local and international investors. Founded in 1990, Eolus has constructed more than 540 wind turbines of the approximately 3 600 wind turbines operating in Sweden. Eolus has signed contracts for over 800 MW of asset management services of which 420 MW is in operation.
Eolus Vind AB has about 11 500 shareholders. Eolus shares are listed at Nasdaq Stockholm.
For more information about Eolus, please visit www.eolusvind.com
Attachment
Hässleholm, Sweden, July 5, 2018
3 Months March 2018 – May 2018
- Net sales 22.6 (9.3) MSEK.
- EBIT -10.0 (-7,3) MSEK. Profit before tax -5.7 (-7.8) MSEK. Net profit -4.6 (-5.7) MSEK.
- Earnings per share, before and after dilution equals -0.18 (-0.22) SEK.
- During the three month period 0 (0) wind turbines were taken into operation with a total installed capacity of 0 (0) MW.
- During the three month period the equivalent of 1.8 (0.0) wind turbines with an installed effect of 1.4 (0.0) MW was handed over to customers.
- At the end of the period Eolus had 337 (332) MW under asset management.
- Electricity production from wind farms owned was 6.3 (11.6) GWh with an average revenue of 532 (407) SEK/MWh.
- In March, Eolus signed a Power Purchase Agreement (PPA) for 330 MW with Alcoa Norway ANS stating that Alcoa will buy all electricity produced in wind farm Öyfjellet in Norway when it is commissioned in 2021. The annual production is estimated at 1.2 TWh. As part of the agreement Eolus has signed a power purchase guarantee with the Norwegian Export Credit Guarantee Agency (GIEK). The guarantee amount is EUR 256 million.
| Financial summery |
Q3 |
Q3 |
Year to date |
Year to date |
Full year |
| Mar 2018 |
Mar 2017 |
Sep 2017 |
Sep 2016 |
Sep 2016 |
| |
-May 2018 |
-May 2017 |
-May 2018 |
-May 2017 |
-Aug 2017 |
| Net sales, MSEK |
22,6 |
9,3 |
180,2 |
784,3 |
1 065,7 |
| EBIT, MSEK |
-10,0 |
-7,3 |
23,0 |
12,1 |
40,2 |
| Profit before tax, MSEK |
-5,7 |
-7,8 |
31,8 |
16,0 |
34,2 |
| Changes in market valuation of financial derivatives, MSEK |
-0,6 |
0,0 |
4,0 |
4,1 |
3,7 |
| Net profit, MSEK |
-4,6 |
-5,7 |
38,7 |
11,5 |
24,5 |
| Earnings per share before and after dilution, SEK |
-0,2 |
-0,22 |
1,6 |
0,49 |
1,02 |
| Equity per share, SEK |
26,4 |
25,94 |
26,4 |
25,94 |
26,41 |
| Cashflow from operating activities, MSEK |
-356,1 |
-127,0 |
-645,0 |
13,1 |
91,0 |
| Total assets, MSEK |
1 605,8 |
871,9 |
1 605,8 |
871,9 |
900,8 |
| Net debt – /net cash +, MSEK |
-515,1 |
94,5 |
-515,1 |
94,5 |
167,6 |
| Signed customer contracts, MSEK |
3 885,0 |
1 305,7 |
3 885,0 |
1 305,7 |
1 061,0 |
| No of turbines taken into operation, amount |
0,0 |
0,0 |
2,0 |
16,0 |
25,0 |
| No of turbines handed over to customers, amount |
1,8 |
0,0 |
5,2 |
24,0 |
36,8 |
| Turbines taken into operation, MW |
0,0 |
0,0 |
4,4 |
52,8 |
72,2 |
| Turbines handed over to customers, MW |
1,4 |
0,0 |
8,9 |
68,9 |
92,8 |
| Managed MW |
337,2 |
331,8 |
337,2 |
331,8 |
351,0 |
| Electricity generation, GWh |
6,3 |
11,6 |
25,1 |
48,7 |
58,6 |
| Equity/assets ratio, % |
41,1 |
74,3 |
41,1 |
74,3 |
73,2 |
| Return on equity after tax, % |
neg |
neg |
8,2 |
2,3 |
3,7 |
For further information contact:
Per Witalisson, CEO, +46 10 199 88 02
Catharina Persson, CFO, +46 10 199 88 17
Johan Hammarqvist, head of communications, +46 10 199 88 10
The information in this press release is disclosed pursuant to the EU Market Abuse Regulation. The information was released for public disclosure through the agency of head of communication Johan Hammarqvist on July 5, 2018, at 8.30 AM CET.
About Eolus:
Eolus Vind AB is one of the leading wind power developers in the Nordics. Eolus is active in the whole value chain from development of green field projects to construction and operation of wind farms. Eolus offers attractive and competitive investments in the Nordic and Baltic countries to both local and international investors. Founded in 1990, Eolus has constructed more than 500 wind turbines of the approximately 3 400 wind turbines operating in Sweden. Eolus operates approximately 350 MW on behalf of customers.
Eolus Vind AB has approximately 7 300 shareholders. Eolus shares are listed at Nasdaq Stockholm.
For more information about Eolus, please visit www.eolusvind.com
Attachments
Eolus Vind AB
Interim report (Q1 and Q3)
Eolus interim report September 1 2016 – May 31 2017
Hässleholm, Sweden, 2017-07-05 08:30 CEST (GLOBE NEWSWIRE) --
3 Months March 2017 – May 2017
-- Net sales 9.3 (158.0) MSEK.
-- EBIT -7.3 (-11.7) MSEK. Profit before tax -7.8 (-11.7) MSEK. Net profit
-5.7 (-13.8) MSEK.
-- Earnings per share, before and after dilution equals -0.22 (-0.43) SEK.
-- During the three month period 0 (7) wind turbines were taken into operation
with a total installed capacity of 0.0 (14.6) MW.
-- During the three month period the equivalent of 0.0 (5.8) wind turbines
with an installed effect of 0.0 (11.9) MW was handed over to customers.
-- Electricity production from wind farms owned was 11.6 (20.8) GWh with an
average revenue of 407 (362) SEK/MWh.
-- In March all conditions for the acquisition of 60 % of Wind Wall
Development, LLC was fulfilled and Eolus subsidiary Eolus North America has
taken over its share of the company.
-- In May Eolus signed an agreement with Munich Re regarding the sale of wind
farm Jenåsen for a purchase amount of EUR 106 million. The construction of
the wind farm that comprises 23 Vestas V126 3.45 MW wind turbines is
ongoing and is expected to be completed during the summer of 2018 when
payment will occur. The wind farm is covered by a PPA that Eolus signed
with Google in December 2015. In connection with the agreement Eolus will,
for EUR 9 million, acquire the right to 96 percent of all electricity
certificates that will be produced in the wind farm during the 15 year
period the wind farm is eligible for certificates.
Financial summery Q3 Q3 Q1-Q3 Q1-Q3 Full
year
Mar Mar Sep Sep Sep
2017 2016 2016 2015 2015
-May -May -May -May -Aug
2017 2016 2017 2016 2016
Net sales, MSEK 9,3 158,0 784,3 635,1 693,4
EBIT, MSEK -7,3 -11,7 12,1 -9,9 -15,9
Profit before tax, MSEK -7,8 -13,8 16,0 -23,0 -29,1
Changes in market valuation of 0,0 0,7 4,1 -5,3 -5,0
financial derivatives, MSEK
Net profit, MSEK -5,7 -11,1 11,5 -18,6 -23,9
Earnings per share before and after -0,22 -0,43 0,5 -0,72 -0,92
före dilution, SEK
Equity per share, SEK 25,9 27,15 25,9 27,15 26,94
Cashflow from operating activities, -127,0 -53,0 13,1 120,9 134,2
MSEK
Total assets, MSEK 871,9 1 037,1 871,9 1 037,1 1 269,6
Net debt - /net cash +, MSEK 94,5 145,1 94,5 145,1 139,8
Signed customer contracts, MSEK 1 305,7 618,3 1 305,7 618,3 620,7
No of turbines taken into 0,0 7,0 16,0 14,0 14,0
operation, amount
No of turbines handed over to 0,0 5,8 24,0 21,8 26,5
customers, amount
Turbines taken into operation, MW 0,0 14,6 52,8 37,7 37,7
Turbines handed over to customers, 0,0 11,9 68,9 51,5 57,55
MW
Electricity generation, GWh 11,6 20,8 48,7 106,0 123,6
Equity/assets ratio, % 74,3 65,2 74,3 65,2 52,9
Return on equity after tax, % neg neg 2,3 neg neg
For further information contact:
Per Witalisson, CEO, +46 10 199 88 02
Catharina Persson, CFO, +46 10 199 88 17
Johan Hammarqvist, head of communications, +46 10 199 88 10
The information in this press release is disclosed pursuant to the EU Market
Abuse Regulation. The information was released for public disclosure through
the agency of head of communication Johan Hammarqvist on July 5th 2017 at 8.30
AM CET.
About Eolus:
Eolus Vind AB is one of the leading wind power developers in Sweden. Eolus is
active in the whole value chain from development of green field projects to
construction and operation of wind farms. Eolus offers attractive and
competitive investments in the Nordic and Baltic countries to both local and
international investors. Founded in 1990, Eolus has constructed nearly 500 wind
turbines of the approximately 3 300 wind turbines operating in Sweden. The
Eolus Group currently owns an installed capacity of 22 MW and a yearly
electricity production of 49 GWh. Eolus operates approximately 350 MW for
customers and the company itself.
Eolus Vind AB has approximately 5 600 shareholders. Eolus shares are listed at
Nasdaq Stockholm.
For more information about Eolus, please visit www.eolusvind.com