Eolus Vind AB: Eolus Vind AB Year-End Report 2024

Eolus presents stable earnings along with new financial goals for the period 2025-2027

1 October-31 December 2024

• Sales amounted to 729 (155) MSEK.
• EBIT amounted to 437 (99) MSEK. Profit before tax amounted to 433 (94) MSEK.
• Net profit amounted to 315 (71) MSEK.
• Earnings per share, before and after dilution equaled 12.67 (2.85) SEK.
• At the end of the period, Eolus had 967 (941) MW under asset management.

1 January-31 December 2024

• Sales amounted to 851 (2,301) MSEK.
• EBIT amounted to 288 (764) MSEK. Profit before tax amounted to 272 (719) MSEK.
• Net profit amounted to 155 (573) MSEK
• Earnings per share, before and after dilution equaled 6.22 (23.00) SEK.
• At the end of the period, Eolus had 967 (941) MW under asset management.
• The Board of Directors proposes a dividend of 2.25 (2.25) SEK per share.

Significant events during the period

• Eolus received a substantial milestone payment amounting to 705 MSEK for the solar and battery storage project Centennial Flats in the USA. The milestone payment had a positive effect of 564 MSEK on Eolus' operating profit in the fourth quarter.
• The Swedish government announced the rejection of 13 applications for offshore wind power projects in the Baltic Sea, including Eolus's projects Skidbladner (1,000 MW) and Arkona (1,200 MW). Eolus took write-downs for the projects already in the third quarter.

Significant events after the balance sheet date

• Eolus has signed an agreement to sell the 100 MW/400 MWh stand-alone battery energy storage project, Pome, located in Poway, CA, U.S. The total enterprise value for the project is in the USD 230-235.5 million range. Closing of the transaction is expected in the first quarter 2025.

Comment from CEO Per Witalisson

"The fourth quarter and full year 2024 were Eolus' second-best so far, with a large milestone payment from a solar and battery project in the the US more than making up for a subdued European market. With yet another large American sale secured, a strong deal pipeline and new financial goals we proceed into the business plan for 2025-2027 with confidence."

Financial Summary

	Unit	Q4 2024	Q4 2023	FY 2024	FY 2023
Net sales	MSEK	729	155	851	2,301
EBIT	MSEK	437	99	288	764
Profit before tax	MSEK	433	94	272	719
Net profit	MSEK	315	71	155	573
Earnings per share before and after dilution	SEK	12.67	2.85	6.22	23.00
Equity per share	SEK	66.90	60.63	66.90	60.63
Cashflow from operating activities	MSEK	-257	-407	-1,796	-152
Total assets	MSEK	4,562	2,808	4,562	2,808
Net debt - /net cash +	MSEK	-1,788	120	-1,788	120
Order backlog	MSEK	180	665	180	665
Project under construction	MW	456	368	456	368
Taken into operation and handed over to customer	MW	0	125	0	525
Project portfolio	MW	25,880	26,836	25,880	26,836
Managed turbines	MW	967	941	967	941
Equity/assets ratio	%	38	56	38	56
Return on equity after tax	%	10	46	10	46

For further information, please contact:
Per Witalisson, CEO, [phone], [e-mail]
Harald Cavalli-Björkman, Investor Relations Manager, [phone], [e-mail]

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 greenfield 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 25 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 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 2025-02-13 07:45 CET.

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