Press releases

Eolus Vind AB interim report June 1 2020 – August 31 2020

Hässleholm, Sweden, October 21st, 2020

3 Months June 2020 – August 2020

  • Net sales 456.9 (1033.7) MSEK.
  • EBIT 76.8 (72.0) MSEK. Profit before tax 37.6 (72.6) MSEK. Net profit 32.8 (81.0) MSEK.
  • Earnings per share, before and after dilution equals 1.32 (3.25) SEK.
  • During the three month period 38 (28) wind turbines were taken into operations with a total installed capacity of 160.3 (104.4) MW.
  • During the three month period the equivalent of 39 (29) wind turbines with an installed capacity of 161.1 (105.2) MW was handed over to customers.
  • At the end of the period Eolus had 903 (524) MW under asset management.
  • In July Eolus signed a cooperation agreement with SCA regarding development of wind power projects. The goal is to reach around 1 000 MW of projects for realization in Sweden, Estonia and Latvia.
  • In July Eolus signed an agreement to acquire seven wind power projects in early development phase from Vindkraft Värmland. Together the projects can facilitate up to approximately 450 MW.
  • On August 27th, an Extraordinary General Meeting was held that decided to change the company’s financial year to run from January 1st to December 31st. The current financial year is extended to cover a period of 16 months, September 1st, 2019 to December 31st, 2020.
  • In August wind farm Bäckhammar (130 MW) was completed and handed over to KGAL who has signed a PPA with Amazon Web Services. Bäckhammar is the first wind farm outside North America to be commissioned with a PPA with Amazon Web Services. Eolus will deliver technical and administrative services for the wind farm.
  • In August wind farm Stigafjellet (30 MW) was completed and handed over to ewz. The wind farm is the first Eolus completes in Norway and Eolus will deliver technical and administrative services for the wind farm.

Significant events after the balance sheet date

  • In September Eolus signed an agreement with Commerz Real regarding the sale of the wind farms Boarp (24 MW), Dållebo (26 MW) and Rosenskog (18 MW) totaling 68 MW for a preliminary purchase price of EUR 82.5 million. An agreement have been signed with Siemens Gamesa Renewables for delivery of 7 Siemens Gamesa SG 5.8-170 wind turbines and 4 Siemens Gamesa SG 5.8-155 wind turbines to the wind farms which are expected to be completed in the autumn of 2023. Eolus will deliver technical and administrative services for the wind farms.
  • In October Eolus signed an agreement with Cubico Sustainable Investments regarding the sale of the turn key wind farm Wind Wall 1 (46.5 MW) located near Tehachapi in California, USA. Construction is ongoing and Wind Wall 1 is expected to be completed during the autumn of 2020.

Financial summaryInterimInterim12 months12 months
Mar 2020Mar 2019Sep 2019Sep 2018
 -Aug 2020-Aug 2019-Aug 2020-Aug 2019
Net sales, MSEK456,91 033,71 391,12 031,9
EBIT, MSEK76,872,0220,2118,3
Profit before tax, MSEK37,672,6146,3116,0
Changes in market valuation of financial derivatives, MSEK-1,715,050,4-24,9
Net profit, MSEK32,881,0168,2132,8
Earnings per share before and after dilution, SEK1,323,256,755,33
Equity per share, SEK40,4735,6540,4735,65
Cashflow from operating activities, MSEK-8,4920,5-370,7566,6
Total assets, MSEK1 960,02 057,81 960,02 057,8
Net debt - /net cash +, MSEK400,9800,1400,9800,1
Signed customer contracts, MSEK4 591,11 348,94 591,11 348,9
No of turbines taken into operation, amount38,028,081,031,0
No of turbines handed over to customers, amount39,029,083,034,0
Turbines taken into operation, MW160,3104,4323,7115,2
Turbines handed over to customers, MW161,1105,2325,3120,0
Managed turbines, MW903524903524
Equity/assets ratio, %51,443,251,443,2
Return on equity after tax, %17,715,617,715,6

Change of the company’s financial year

Eolus held an Extraordinary General Meeting (EGM) Thursday August 27th. The EGM resolved to change the company’s financial year to run from 1 January to 31 December, instead of 1 September to 31 August. The current financial year is extended to 31 December 2020 and will cover the period 1 September 2019 to 31 December 2020. Five financial statements will be given and the fifth will cover four months, 1 September 2020 – 31 December 2020. In total the financial year will cover 16 months.

Annual report will be made public during week 12, 2021. Annual General Meeting will be held in Hässleholm, Wednesday May 19th, 2021.

For further information contact:

Per Witalisson, CEO, +46 70-265 16 15
Catharina Persson, CFO, +46 70 932 97 77
Johan Hammarqvist, Head of Communications, +46 720 50 59 11

The information in this press release is disclosed pursuant to the EU Market Abuse Regulation. The information was released for public disclosure through the agency of head of communication Johan Hammarqvist on October 21st, 2020, at 8.30 AM CET.

About Eolus:
Eolus Vind AB is one of the leading wind power developers in the Nordics. Eolus is active in the whole value chain from development of green field projects to construction and operation of wind farms. Eolus offers attractive and competitive investments in the Nordic and Baltic countries as well as the United States to both local and international investors. Founded in 1990, Eolus has constructed 653 wind turbines with a capacity of nearly 1 370 MW. Eolus has signed contracts for about 1 400 MW of asset management services of which some 905 MW is in operation.

Eolus Vind AB has about 28 000 shareholders. Eolus shares are listed at Nasdaq Stockholm.

For more information about Eolus, please visit

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