Eolus Vind AB Year-end Report 1 January–31 December 2022

    Eolus Vind AB Year-end Report 1 January–31 December 2022 

Hässleholm 16 February 2023

 1 October–31 December 2022

• Net sales amounted to 366 (1,009) MSEK.
• EBIT amounted to 27 (-4) MSEK. Profit before tax amounted to 58 (-9) MSEK.
• Net profit amounted to 41 (-7) MSEK.
• Earnings per share, before and after dilution equaled 1.66 (-0.20) 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 882 (914) MW under asset management.

1 January–31 December 2022

• Net sales amounted to 2,356 (2,614) MSEK.
• EBIT amounted to 80 (-25) MSEK. Profit before tax amounted to 109 (-40) MSEK.
• Net profit amounted to 116 (-24) MSEK, of which -5 MSEK is attributable to Eolus's shareholders after reduction of the minority stakeholders' part.
• Earnings per share, before and after dilution equaled -0.22 (-0.74) SEK.
• During the period, energy facilities with a total installed capacity of 0 (47) MW were taken into operations and handed over to customer.
• At the end of the period Eolus had 882 (914) MW under asset management.
• The Board of Directors proposes a dividend of 1.50 (1.50) SEK/share

Significant events during the period  

• In October, Eolus sold a solar and battery storage project located in Arizona, US, which is expected to have an initial aggregate capacity of 750 MWac solar photovoltaic generation and battery storage capacity. Commissioning is planned for 2025. Eolus has received an initial payment of USD 12 million.
• Inga Abolina was appointed Head of Baltics and took office on 24 October 2022.
• Christer Baden Hansen was appointed Chief Commercial Officer and member of the Group Management. Christer took office on 1 February 2023.
• Eolus and Simply Blue Group signed an agreement to co-develop four offshore wind projects in the Baltic Sea through a joint venture called SeaSapphire, powered by Simply Blue Group and Eolus.
• Research permits were granted for the two offshore wind farms Wellamo and Tuulia in Finland.

Significant events after the balance sheet date  

• Eolus and PNE signed an agreement to co-develop the offshore wind project Kurzéme in Latvia through a joint venture.

  

Financial summary		Q4	Q4	12 months	12 months
	Unit	2022	2021	2022	2021
Net sales	MSEK	366	1 009	2 356	2 614
EBIT	MSEK	27	-4	80	-25
Profit before tax	MSEK	58	-9	109	-40
Net profit	MSEK	41	-7	116	-24
Earnings per share before and after dilution	SEK	1,66	-0,20	-0,22	-0,74
Equity per share	SEK	39,47	39,50	39,47	39,50
Cashflow from operating activities	MSEK	-139	-381	-191	-97
Total assets	MSEK	1 919	1 885	1 919	1 885
Net debt - /net cash +	MSEK	258	439	258	439
Order backlog	MSEK	1 329	1 793	1 329	1 793
Project under construction	MW	794	737	794	737
Taken into operation and handed over to customer	MW	0	0	0	47
Project portfolio	MW	21 880	13 823	21 880	13 823
Managed turbines	MW	882	914	882	914
Equity/assets ratio	%	54	67	54	67
Return on equity after tax	%	neg	neg	neg	neg

 

 

Presentation of the reportAt 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-q4-2022Via 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=5009601After 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, [phone]Catharina Persson, CFO. [phone]Karin Wittsell Heydl, Head of Communications & Sustainability, [phone]

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 16 February 2023, at 08:30 CET. 

ABOUT EOLUSEolus 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 666 wind turbines with a capacity of 1 414 MW. Eolus has signed contracts for 1,550 MW of asset management services of which 882 MW are in operation.

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

Attachment

• Eolus extract of Year-end report 2022