Eolus Vind AB Interim Report 1 January–31 March 2022

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Eolus Vind AB
Eolus Vind AB

1 January–31 March 2022

  • Net sales amounted to 432 (242) MSEK.

  • EBIT amounted to -158 (-29) MSEK. Profit before tax amounted to -159 (-21) MSEK.

  • Net profit amounted to -138 (-17) MSEK.

  • Earnings per share, before and after dilution equaled -5.55 (-0.67) SEK.

  • During the period, energy facilities with a total installed capacity of 0 (0) MW were taken into operations and handed over to customer.

  • At the end of the period Eolus had 914 (874) MW under asset management.

Significant events during the period

  • Previously communicated delays for Öyfjellet have continued to affect the project and impaired the profitability forecast.

  • Financial goals were communicated based on the business plan for 2022–2024.

  • Eolus placed order for 16 wind turbines with Siemens Gamesa for the projects Skallberget/Utterberget and Tjärnäs in Sweden.

  • Magnus Axelsson was recruited as new Chief Operating Officer.

  • Karin Wittsell Heydl was recruited as Head of Communications, Sustainability and IT.

Significant events after the balance sheet date

  • Eolus and Hydro REIN signed an agreement with MEAG regarding the sale of 75% of the shares in the wind power project Stor-Skälsjön in Sweden.

Dividend and Annual General Meeting

  • Annual General Meeting will be held on Thursday May 19, 2022.

  • The Board of Director proposes a dividend of SEK 1,50 (2,00).

Financial summary

Q1

Q1

Rolling 12

Full year

Unit

2022

2021

apr-mar

2021

Net sales

MSEK

432

242

2 804

2 614

EBIT

MSEK

-158

-29

-154

-25

Profit before tax

MSEK

-159

-21

-178

-40

Net profit

MSEK

-138

-17

-145

-24

Earnings per share before and after dilution

SEK

-5,55

-0,67

-5,62

-0,74

Equity per share

SEK

34,16

41,30

34,16

39,54

Cashflow from operating activities

MSEK

-164

-51

-209

-97

Total assets

MSEK

2 021

1 856

2 021

1 885

Net debt - /net cash +

MSEK

345

239

345

439

Order backlog

MSEK

1 195

5 000

1 195

1 793

Project under construction

MW

786

524

786

737

Taken into operation and handed over to customer

MW

0

0

47

47

Project portfolio

MW

15 904

7 798

15 904

13 823

Managed turbines

MW

914

874

914

914

Equity/assets ratio

%

60

55

60

67

Return on equity after tax

%

neg

6,1

neg

neg

For further information, contact:
Per Witalisson, CEO, +46 (0)70-265 16 15
Catharina Persson, CFO, +46 (0)70-932 97 77
Karin Wittsell Heydl, Head of Communications and Sustainability, +46 (0)76-116 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 May 18, 2022, at 8:30 a.m. CEST.

About Eolus:
Since the company’s inception thirty years ago, Eolus has grown to become one of the leading developers of renewable energy in the Nordic region. Today, we develop, establish, and manage renewable energy projects in onshore and offshore wind power, solar power and energy storage. Eolus offers attractive and competitive investment opportunities in the Nordic region, the US, Poland and the Baltics. With our competent and dedicated staff, we are taking the company forward at a rapid pace and driving the transition to renewable electricity generation. Founded in 1990, Eolus has constructed 666 wind turbines with a capacity of 1 414 MW. Eolus has signed contracts for about 1 322 MW of asset management services of which 914 MW are in operation.

Eolus shares are listed at Nasdaq Stockholm.

www.eolusvind.com

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