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Eolus Vind AB Interim Report 1 January–31 March 2023

Hässleholm, Sweden, 11 May 2023

1 January–31 March 2023

  • Net sales amounted to 277 (432) MSEK.
  • EBIT amounted to -12 (-158) MSEK. Profit before tax amounted to -12 (-159) MSEK.
  • Net profit amounted to -15 (-138) MSEK.
  • Earnings per share, before and after dilution equaled -0.61 (-5.55) SEK.
  • During the period, energy facilities with a total installed capacity of 400 (0) MW were completed and handed over to customer.
  • At the end of the period Eolus had 825 (914) MW under asset management.

 Significant events during the period

  • Øyfjellet wind farm in Norway was completed and taken over by Øyfjellet Wind AS.
  • Eolus and PNE signed an agreement to co-develop the offshore wind project Kurzéme in Latvia through a joint venture.

Significant events after the balance sheet date

  • The Gothenburg Port Authority decided to acquire five percent of Eolus’s Västvind offshore project.
  • Eolus signed a cooperation agreement with Finnish land-owner Finsilva for development of five wind power projects with a potential for more than 600 MW in total.

FINANCIAL SUMMARY

  Unit Q1 2023 Q1 2022 Rolling 12 Apr-Mar Full year 2022
Net sales MSEK 277 432 2 201 2 356
EBIT MSEK -12 -158 227 80
Profit before tax MSEK -12 -159 256 109
Net profit MSEK -15 -138 239 116
Earnings per share before and after dilution SEK -0,61 -5,55 4,73 -0,22
           
Equity per share SEK 38,88 34,16 38,88 39,49
Cashflow from operating activities MSEK -236 -164 -264 -191
Total assets MSEK 1 951 2 021 1 951 1 919
Net debt – /net cash + MSEK 55 345 55 258
           
Order backlog MSEK 1 118 1 195 1 118 1 329
Project under construction MW 394 786 394 794
Taken into operation and handed over to customer MW 400 0 400 0
Project portfolio MW 24 477 15 904 24 477 21 880
Managed turbines MW 825 914 825 882
           
Equity/assets ratio % 53 60 53 54
Return on equity after tax %               12,9  neg               12,9               11,8
           

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.

Webcast:
If you wish to participate via webcast, please use the link below:
https://ir.financialhearings.com/eolus-q1-2023
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=200758
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 (0)702 65 16 15
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 11 May, 2023, at 08:30 CEST.  

 

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 1,150 MW of asset management services of which 825 MW are in operation.

Eolus’ Class B share is traded on Nasdaq Stockholm Mid Cap. For further information, please visit www.eolusvind.com.

 

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