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.
