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Eolus Vind AB Interim Report 1 April–30 June 2023

08:30 / 25 August 2023 Eolus Vind Press release

Record strong results after project sales and progress in the US

1 April–30 June 2023

  • Net sales amounted to 1,742 (1,448) MSEK.
  • EBIT amounted to 517 (220) MSEK. Profit before tax amounted to 503 (221) MSEK.
  • Net profit amounted to 422 (225) MSEK.
  • Earnings per share, before and after dilution equaled 16.97 (4.12) SEK.
  • At the end of the period Eolus had 817 (912) MW under asset management.

1 January–30 June 2023

  • Net sales amounted to 2,019 (1,880) MSEK.
  • EBIT amounted to 506 (62) MSEK. Profit before tax amounted to 491 (62) MSEK.
  • Net profit amounted to 407 (87) MSEK.
  • Earnings per share, before and after dilution equaled 16.36 (-1.43) SEK.
  • At the end of the period Eolus had 817 (912) MW under asset management.

Significant events during the period

  • Eolus sold the wind power projects Skallberget/Utterberget, Tjärnäs and Rosenskog comprising 125 MW to BKW.
  • Eolus received a significant payment as a result of achieving an important milestone in the solar and battery storage project in Arizona, US, which was sold in October 2022.
  • Eolus signed a cooperation agreement with Finnish landowner Finsilva for development of five wind power projects with a potential for more than 600 MW in total.
  • The Gothenburg Port Authority decided to acquire five percent of Eolus’s Västvind offshore project outside Gothenburg.

Significant events after the balance sheet date

  • Eolus made an investment decision for the 100 MW battery storage project Pome in US and signed an agreement regarding supply of a battery energy storage system.
  • Eolus filed a permit application for the 1,000 MW Västvind wind power project, located west of Gothenburg.
  • Michiel Messing, Head of Construction, stepped down from Eolus’s Group Management as of 21 July since he will leave Eolus in October.
  • Eolus initiated a strategic review of its offshore wind power business with the intention to create the best conditions for permitting and realization of the projects.
  • Tiina Partanen took office as new Country Manager in Finland on 10 August.

Financial summary

  Unit Q2 2023 Q2 2022 6 months 2023 6 months 2022 Rolling 12
Jul-Jun 		Full year 2022
Net sales MSEK 1 742 1 448 2 019 1 880 2 496 2 356
EBIT MSEK 517 220 506 62 525 80
Profit before tax MSEK 503 221 491 62 538 109
Net profit MSEK 422 225 407 87 437 116
Earnings per share before and after dilution SEK 16,97 4,12 16,36 -1,43 17,57 -0,22








Equity per share SEK 55,86 37,85 55,86 37,85 55,86 39,49
Cashflow from operating activities MSEK 860 315 624 152 280 -191
Total assets MSEK 2 496 1 844 2 496 1 844 2 496 1 919
Net debt - /net cash + MSEK 870 598 870 598 870 258








Order backlog MSEK 845 699 845 699 845 1 329
Project under construction MW 514 786 514 786 514 794
Taken into operation and handed over to customer MW 0 0 400 0 400 0
Project portfolio MW 25 446 17 428 25 446 17 428 25 446 21 880
Managed turbines MW 817 912 817 912 817 882








Equity/assets ratio % 58 54 58 54 58 54
Return on equity after tax % 37 neg 37 neg 37 12








Presentation of the report
At 10:00 (CEST) 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-q2-2023
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=200944
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 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 738 wind turbines with a capacity of 1,814 MW. Eolus has signed contracts for 1,209 MW of asset management services of which 817 MW are in operation.
Eolus’s Class B share is traded on Nasdaq Stockholm Mid Cap. For further information, please visit www.eolusvind.com.

This information is information that Eolus Vind is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-08-25 08:30 CEST.

Attachments
Eolus Extract Of Interim Report Q2 2023

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MFN

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