Arbitration award – profit before tax positively affected by SEK 85 million in the third quarter
An arbitration award in a case regarding the Kråktorpet and Nylandsbergen wind projects outside Sundsvall has been announced today. The award is estimated to have a positive effect on Eolus’s operating profit by SEK 96 million in the third quarter. The estimated effect on profit before tax is SEK 85 million in the third quarter. Cash flow will be negatively affected by approximately SEK 28 million in the fourth quarter.
In January 2018, the contractor received the contract to design and execute roads and crane sites as well as electrical grids for the Kråktorpet and Nylandsbergen wind farms. The parties could not agree on responsibility for damages and delays due to insufficient roads, etc. during the thawing period in connection with the construction of the wind farms and a dispute was initiated in 2020. The arbitration award was announced today, 16 October, 2023.