Hässleholm, Sweden, October 26, 2018
3 Months June 2018 – August 2018
- Net sales 1 185.8 (281.4) MSEK.
- EBIT 179.4 (28.2) MSEK. Profit before tax 167.0 (18.3) MSEK. Net profit 155.7 (13.0) MSEK.
- Earnings per share, before and after dilution equals 6.25 (0.52) SEK.
- During the three month period 23 (9) wind turbines were taken into operations with a total installed capacity of 79.4 (19.4) MW.
- During the three month period the equivalent of 25.6 (12.8) wind turbines with an installed capacity of 84.4 (23.9) MW was handed over to customers.
- At the end of the period Eolus had 415 (351) MW under asset management.
- Electricity production from wind farms owned was 5.1 (9.9) GWh with an average revenue of 534 (362) SEK/MWh.
- In July Eolus signed an agreement with ewz regarding the sale of wind farm Stigafjellet comprising 30 MW for a preliminary purchase price of EUR 40.7 million. The wind farm will be commissioned during the second half of 2020.
- In August wind farm Jenåsen (79 MW) in Sundsvall municipality was completed and handed over to Munich Re. The wind farm is covered with a PPA with Google and comprises 23 wind turbines of the model Vestas V126 3.45 MW.
- In August Eolus made public that Richard Larsson, Head of Project delivery, will be part of Eolus Management group as of September 1st 2018.
Full year September 2017 – August 2018
- Net sales 1 366.0 (1 065.7) MSEK.
- EBIT 202.4 (40.2) MSEK. Profit before tax 198.9 (34.2) MSEK. Net profit 194.3 (24.5) MSEK.
- Earnings per share, before and after dilution equals 7.81 (1.02) SEK.
- During the fiscal year 2017/2018 25 (25) wind turbines were taken into operations with a total installed capacity of 83.8 (72.2) MW.
- During the year the equivalent of 30.8 (36.8) wind turbine with an installed capacity of 93.3 (92.8) MW was handed over to customers.
- Electricity production from wind farms owned was 30.2 (58.6) GWh with an average revenue of 470 (423) SEK/MWh.
- For the fiscal year 2017/2018 the board proposes a dividend of 1.50 (1.50) SEK per share.
Significant events after the balance sheet date
- In September Eolus wholly owned subsidiary Eolus North America, Inc, acquired a solar plus storage project under development in western U.S. with a planned capacity of 500 MW solar and 250 MW storage.
- In September Eolus signed an agreement with Siemens Gamesa for the delivery of seven wind turbines of the model SWT-DD-130 with a capacity of 4.3 MW each to the Norwegian project Stigafjellet.
- In September Eolus signed a four-year credit agreement with Swedbank comprising liquidity and construction facilities totaling 1 050 MSEK.
- In October Eolus signed an agreement with KGAL regarding the sale of wind farm Bäckhammar (130 MW) for a preliminary purchase price of EUR 131 million. In a corresponding move Eolus placed an order for 31 wind turbines with Vestas. The wind farm is expected to be commissioned in August 2020.
Dividend, Annual Report and Annual General Meeting
- The Annual Report will be published on November 29th, 2018. The Annual General Meeting will be held in Hässleholm Saturday January 26th, 2019. The Board will propose a dividend of 1,50 (1,50) SEK.
| Financial summery | Q4 | Q4 | Full year | Full year |
| Jun 2018 | Jun 2017 | Sep 2017 | Sep 2016 | |
| -Aug 2018 | -Aug 2017 | -Aug 2018 | -Aug 2017 | |
| Net sales, MSEK | 1 185,8 | 281,4 | 1 366,0 | 1 065,7 |
| EBIT, MSEK | 179,4 | 28,2 | 202,4 | 40,2 |
| Profit before tax, MSEK | 167,0 | 18,3 | 198,9 | 34,2 |
| Changes in market valuation of financial derivatives, MSEK | -1,5 | -0,3 | 2,5 | 3,7 |
| Net profit, MSEK | 155,7 | 13,0 | 194,3 | 24,5 |
| Earnings per share before and after före dilution, SEK | 6,3 | 0,52 | 7,8 | 1,02 |
| Equity per share, SEK | 32,7 | 26,41 | 32,7 | 26,41 |
| Cashflow from operating activities, MSEK | 886,7 | 77,9 | 241,7 | 91,0 |
| Total assets, MSEK | 1 895,0 | 900,8 | 1 895,0 | 900,8 |
| Net debt - /net cash +, MSEK | 371,1 | 167,6 | 371,1 | 167,6 |
| Signed customer contracts, MSEK | 2 887,5 | 1 061,0 | 2 887,5 | 1 061,0 |
| No of turbines taken into operation, amount | 23,0 | 9,0 | 25,0 | 25,0 |
| No of turbines handed over to customers, amount | 25,6 | 12,8 | 30,8 | 36,8 |
| Turbines taken into operation, MW | 79,4 | 19,4 | 83,8 | 72,2 |
| Turbines handed over to customers, MW | 84,4 | 23,9 | 93,3 | 92,8 |
| Managed turbines, MW | 415 | 351 | 415 | 351 |
| Electricity generation, GWh | 5,1 | 9,9 | 30,2 | 58,6 |
| Equity/assets ratio, % | 43,1 | 73,2 | 43,1 | 73,2 |
| Return on equity after tax, % | 26,4 | 3,7 | 26,4 | 3,7 |
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 October 26, 2018, 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 more than 540 wind turbines of the approximately 3 400 wind turbines operating in Sweden. Eolus operates more than 400 MW on behalf of customers.
Eolus Vind AB has about 8 200 shareholders. Eolus shares are listed at Nasdaq Stockholm.
For more information about Eolus, please visit www.eolusvind.com
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