Investment decision and construction start in three Swedish projects
1 January-31 March 2024
- Net sales amounted to 44 (277) MSEK.
- EBIT amounted to -29 (-12) MSEK. Profit before tax amounted to -29 (-12) MSEK.
- Net profit amounted to -32 (-15) MSEK.
- Earnings per share, before and after dilution equaled -1.30 (-0.61) SEK.
- At the end of the period Eolus had 939 (825) MW under asset management.
Significant events during the period
- Eolus made an investment decision for the wind power projects Fågelås, Boarp and Dållebo in Sweden totaling 88 MW. A turbine supply agreement was signed with Vestas and construction will start immediately.
- Eolus submitted a permit application for the 1,000 MW wind power project Blekinge Offshore off the coast of Blekinge.
- Eolus and Simply Blue Group agreed to transfer full ownership of the joint venture SeaSapphire, which develops floating offshore wind projects, to Eolus.
Significant events after the balance sheet date
- Magnus Axelsson, COO and deputy CEO, decided to leave Eolus as of June 30, 2024.
Financial Summary
MSEK | Unit | Q1 2024 | Q1 2023 | 12 months Apr-Mar | Full year 2023 |
| Net sales | MSEK | 44 | 277 | 2,069 | 2,301 |
| EBIT | MSEK | -29 | -12 | 747 | 764 |
| Profit before tax | MSEK | -29 | -12 | 702 | 719 |
| Net profit | MSEK | -32 | -15 | 556 | 573 |
| Earnings per share before and after dilution | SEK | -1.30 | -0.61 | 22.31 | 23.00 |
| Equity per share | SEK | 61.45 | 38.88 | 61.45 | 60.63 |
| Cashflow from operating activities | MSEK | 20 | -236 | 104 | -152 |
| Total assets | MSEK | 2,958 | 1,951 | 2,958 | 2,808 |
| Net debt -/net cash+ | MSEK | -112 | 55 | -112 | -118 |
| Order backlog | MSEK | 662 | 1118 | 662 | 665 |
| Project under construction | MW | 456 | 394 | 456 | 368 |
| Taken into operation and handed over to customer | MW | 0 | 400 | 125 | 525 |
| Project portfolio | MW | 28,095 | 24,477 | 28,095 | 26,836 |
| Managed turbines | MW | 939 | 825 | 939 | 941 |
| Equity/assets ratio | % | 54 | 53 | 54 | 56 |
| Return on equity after tax | % | 44 | 13 | 44 | 46 |
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-q1-report-2024/
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=50048260
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 28 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.eolus.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 2024-05-15 07:45 CEST.
