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Eolus interim report September 1 2016 – May 31 2017

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

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