Strong quarter concludes record year 2023 - higher dividend proposed
1 October-31 December 2023
- Net sales amounted to 155 (366) MSEK.
- EBIT amounted to 99 (27) MSEK. Profit before tax amounted to 94 (58) MSEK.
- Net profit amounted to 71 (41) MSEK.
- Earnings per share, before and after dilution equaled 2.85 (1.66) SEK.
- At the end of the period Eolus had 941 (882) MW under asset management.
1 January-31 December 2023
- Net sales amounted to 2,301 (2,356) MSEK.
- EBIT amounted to 764 (80) MSEK. Profit before tax amounted to 719 (109) MSEK.
- Net profit amounted till 573 (116) MSEK.
- Earnings per share, before and after dilution equaled 23.00 (-0.22) SEK.
- At the end of the period Eolus had 941 (882) MW under asset management.
- The Board of Directors proposes a dividend of 2.25 (1.50) SEK per share which is an increase of 50 percent compared to previous year.
Significant events during the period
- Eolus has completed and handed over the Swedish onshore wind projects Skallberget/Utterberget, Tjärnäs and Rosenskog to the owner BKW. The projects comprise 19 wind turbines with a total installed capacity of 125 MW.
- Eolus acquired YIT Energy Oy, the renewable energy division of Finland's largest development and construction company YIT. The acquisition includes 2.3 GW renewable energy projects and 16 employees.
- Eolus filed a permit application to the government for the offshore wind project Arkona comprising 1,400 MW off Sweden's southern coast.
- Eolus filed a permit application to the Land and Environment Court and the government for the 1,000-1,700 MW offshore wind project Najaderna outside Tierp municipality in Uppsala County.
- Eolus signed a letter of intent with Volvo Cars on collaboration around the Västvind offshore wind project.
- An arbitration award in a case regarding the Kråktorpet and Nylandsbergen wind projects outside Sundsvall was announced.
Financial Summary
| Unit | Q4 2023 | Q4 2022 | 12 months 2023 | 12 months 2022 | |
| Net sales | MSEK | 155 | 366 | 2,301 | 2,356 |
| EBIT | MSEK | 99 | 27 | 764 | 80 |
| Profit before tax | MSEK | 94 | 58 | 719 | 109 |
| Net profit | MSEK | 71 | 41 | 573 | 116 |
| Earnings per share before and after dilution | SEK | 2.85 | 1.66 | 23.00 | -0.22 |
| Equity per share | SEK | 60.63 | 39.47 | 60.63 | 39.47 |
| Cashflow from operating activities | MSEK | -407 | -139 | -152 | -191 |
| Total assets | MSEK | 2,808 | 1,919 | 2,808 | 1,919 |
| Net debt - /net cash + | MSEK | -118 | 258 | -118 | 258 |
| Order backlog | MSEK | 665 | 1,329 | 665 | 1,329 |
| Project under construction | MW | 368 | 794 | 368 | 794 |
| Taken into operation and handed over to customer | MW | 125 | - | 525 | - |
| Project portfolio | MW | 26,836 | 21,880 | 26,836 | 21,880 |
| Managed turbines | MW | 941 | 882 | 941 | 882 |
| Equity/assets ratio | % | 56 | 54 | 56 | 54 |
| Return on equity after tax | % | 46 | neg | 46 | 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-q4-2023
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=5002670
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 a leading developer of innovative and customized renewable energy solutions. We offer attractive and sustainable investments in the Nordics, the Baltics, Poland and the USA. From development of green field projects to construction and operation of renewable energy assets, we are part of the entire value chain. For over three decades we have worked for a future where everyone can lead a fulfilling, yet sustainable life. Today, our project portfolio includes more than 26 GW wind, solar and energy storage projects. Eolus - shaping the future of renewable energy.
Eolus's Class B share is listed on Nasdaq Stockholm. www.eolusvind.com
This information is information that Eolus Vind is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-02-15 07:45 CET.
