Eolus interim report September 1 2016 – May 31 2017Hässleholm, Sweden, 2017-07-05 08:30 CEST --
3 Months March 2017 – May 2017
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Net sales 9.3 (158.0) MSEK.
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EBIT -7.3 (-11.7) MSEK. Profit before tax -7.8 (-11.7) MSEK. Net profit -5.7 (-13.8) MSEK.
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Earnings per share, before and after dilution equals -0.22 (-0.43) SEK.
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During the three month period 0 (7) wind turbines were taken into operation with a total installed capacity of 0.0 (14.6) MW.
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During the three month period the equivalent of 0.0 (5.8) wind turbines with an installed effect of 0.0 (11.9) MW was handed over to customers.
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Electricity production from wind farms owned was 11.6 (20.8) GWh with an average revenue of 407 (362) SEK/MWh.
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In March all conditions for the acquisition of 60 % of Wind Wall Development, LLC was fulfilled and Eolus subsidiary Eolus North America has taken over its share of the company.
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In May Eolus signed an agreement with Munich Re regarding the sale of wind farm Jenåsen for a purchase amount of EUR 106 million. The construction of the wind farm that comprises 23 Vestas V126 3.45 MW wind turbines is ongoing and is expected to be completed during the summer of 2018 when payment will occur. The wind farm is covered by a PPA that Eolus signed with Google in December 2015. In connection with the agreement Eolus will, for EUR 9 million, acquire the right to 96 percent of all electricity certificates that will be produced in the wind farm during the 15 year period the wind farm is eligible for certificates.
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Financial summery |
Q3 |
Q3 |
Q1-Q3 |
Q1-Q3 |
Full year |
|
|
Mar 2017 |
Mar 2016 |
Sep 2016 |
Sep 2015 |
Sep 2015 |
|
|
-May 2017 |
-May 2016 |
-May 2017 |
-May 2016 |
-Aug 2016 |
|
Net sales, MSEK |
9,3 |
158,0 |
784,3 |
635,1 |
693,4 |
|
EBIT, MSEK |
-7,3 |
-11,7 |
12,1 |
-9,9 |
-15,9 |
|
Profit before tax, MSEK |
-7,8 |
-13,8 |
16,0 |
-23,0 |
-29,1 |
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Changes in market valuation of financial derivatives, MSEK |
0,0 |
0,7 |
4,1 |
-5,3 |
-5,0 |
|
Net profit, MSEK |
-5,7 |
-11,1 |
11,5 |
-18,6 |
-23,9 |
|
Earnings per share before and after före dilution, SEK |
-0,22 |
-0,43 |
0,5 |
-0,72 |
-0,92 |
|
Equity per share, SEK |
25,9 |
27,15 |
25,9 |
27,15 |
26,94 |
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Cashflow from operating activities, MSEK |
-127,0 |
-53,0 |
13,1 |
120,9 |
134,2 |
|
Total assets, MSEK |
871,9 |
1 037,1 |
871,9 |
1 037,1 |
1 269,6 |
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Net debt - /net cash +, MSEK |
94,5 |
145,1 |
94,5 |
145,1 |
139,8 |
|
Signed customer contracts, MSEK |
1 305,7 |
618,3 |
1 305,7 |
618,3 |
620,7 |
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No of turbines taken into operation, amount |
0,0 |
7,0 |
16,0 |
14,0 |
14,0 |
|
No of turbines handed over to customers, amount |
0,0 |
5,8 |
24,0 |
21,8 |
26,5 |
|
Turbines taken into operation, MW |
0,0 |
14,6 |
52,8 |
37,7 |
37,7 |
|
Turbines handed over to customers, MW |
0,0 |
11,9 |
68,9 |
51,5 |
57,55 |
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Electricity generation, GWh |
11,6 |
20,8 |
48,7 |
106,0 |
123,6 |
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Equity/assets ratio, % |
74,3 |
65,2 |
74,3 |
65,2 |
52,9 |
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Return on equity after tax, % |
neg |
neg |
2,3 |
neg |
neg |
For further information contact:
Per Witalisson, CEO, +46 10 199 88 02
Catharina Persson, CFO, +46 10 199 88 17
Johan Hammarqvist, head of communications, +46 10 199 88 10
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 July 5th 2017 at 8.30 AM CET.
About Eolus:
Eolus Vind AB is one of the leading wind power developers in Sweden. 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 to both local and international investors. Founded in 1990, Eolus has constructed nearly 500 wind turbines of the approximately 3 300 wind turbines operating in Sweden. The Eolus Group currently owns an installed capacity of 22 MW and a yearly electricity production of 49 GWh. Eolus operates approximately 350 MW for customers and the company itself.
Eolus Vind AB has approximately 5 600 shareholders. Eolus shares are listed at Nasdaq Stockholm.
For more information about Eolus, please visit www.eolusvind.com
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