Record strong results after project sales and progress in the US

1 April–30 June 2023

  • Net sales amounted to 1,742 (1,448) MSEK.
  • EBIT amounted to 517 (220) MSEK. Profit before tax amounted to 503 (221) MSEK.
  • Net profit amounted to 422 (225) MSEK.
  • Earnings per share, before and after dilution equaled 16.97 (4.12) SEK.
  • At the end of the period Eolus had 817 (912) MW under asset management.

1 January–30 June 2023

  • Net sales amounted to 2,019 (1,880) MSEK.
  • EBIT amounted to 506 (62) MSEK. Profit before tax amounted to 491 (62) MSEK.
  • Net profit amounted to 407 (87) MSEK.
  • Earnings per share, before and after dilution equaled 16.36 (-1.43) SEK.
  • At the end of the period Eolus had 817 (912) MW under asset management.

Significant events during the period

  • Eolus sold the wind power projects Skallberget/Utterberget, Tjärnäs and Rosenskog comprising 125 MW to BKW.
  • Eolus received a significant payment as a result of achieving an important milestone in the solar and battery storage project in Arizona, US, which was sold in October 2022.
  • Eolus signed a cooperation agreement with Finnish landowner Finsilva for development of five wind power projects with a potential for more than 600 MW in total.
  • The Gothenburg Port Authority decided to acquire five percent of Eolus’s Västvind offshore project outside Gothenburg.

Significant events after the balance sheet date

  • 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 filed a permit application for the 1,000 MW Västvind wind power project, located west of Gothenburg.
  • Michiel Messing, Head of Construction, stepped down from Eolus’s Group Management as of 21 July since he will leave Eolus in October.
  • Eolus initiated a strategic review of its offshore wind power business with the intention to create the best conditions for permitting and realization of the projects.
  • Tiina Partanen took office as new Country Manager in Finland on 10 August.

Financial summary

 UnitQ2 2023Q2 20226 months 20236 months 2022Rolling 12
Jul-Jun		Full year 2022
Net salesMSEK1 7421 4482 0191 8802 4962 356
EBITMSEK5172205066252580
Profit before taxMSEK50322149162538109
Net profitMSEK42222540787437116
Earnings per share before and after dilutionSEK16,974,1216,36-1,4317,57-0,22








Equity per shareSEK55,8637,8555,8637,8555,8639,49
Cashflow from operating activitiesMSEK860315624152280-191
Total assetsMSEK2 4961 8442 4961 8442 4961 919
Net debt - /net cash +MSEK870598870598870258








Order backlogMSEK8456998456998451 329
Project under constructionMW514786514786514794
Taken into operation and handed over to customerMW0040004000
Project portfolioMW25 44617 42825 44617 42825 44621 880
Managed turbinesMW817912817912817882








Equity/assets ratio%585458545854
Return on equity after tax%37neg37neg3712








Presentation of the report
At 10:00 (CEST) today, CEO Per Witalisson and CFO Catharina Persson will present the report via a webcast with telephone conference.

Webcast:
If you wish to participate via webcast, please use the link below:
https://ir.financialhearings.com/eolus-q2-2023
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=200944
After registration you will be provided phone number and a conference ID to access the conference.
You can ask questions verbally via the teleconference.

For further information, please contact:
Per Witalisson, CEO, +46 702 65 16 15, per.witalisson@eolusvind.com
Karin Wittsell Heydl, Head of Communications & Sustainability, +46 761 16 71 99, karin.heydl@eolusvind.com

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 738 wind turbines with a capacity of 1,814 MW. Eolus has signed contracts for 1,209 MW of asset management services of which 817 MW are in operation.
Eolus’s Class B share is traded on Nasdaq Stockholm Mid Cap. For further information, please visit www.eolusvind.com.

This information is information that Eolus Vind is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-08-25 08:30 CEST.

Attachments
Eolus Extract Of Interim Report Q2 2023

© Modular Finance, source Nordic Press Releases