Soltech Energy Sweden AB (publ) has today published its annual report for 2024.

– Looking back at the 2024 financial year, we see how our diversified business base in our four business areas roofing, solar, electrical engineering and facade has continued to contribute to creating competitive overall solutions and stability in a market that is difficult to navigate. We also see that the long-term need for solar energy and energy storage solutions remains, while upcoming regulatory requirements for solar, societal electrification and the energy transition are expected to have a positive impact on the solar energy industry, says Patrik Hahne, CEO of Soltech Energy.

The Soltech Group has approximately 900 employees, active in Sweden, the Netherlands and Spain divided into 20 operating companies.

For a complete report of the 2024 accounts, please refer to the attached annual report including the auditor’s report.

The Annual Report in its entirety, including the auditor’s report, is also available to read and download from Soltech Energy Sweden AB’s website: https://soltechenergy.com/en/investors

Anyone who wishes to order a printed annual report is welcome to do so via Info@soltechenergy.com

(The annual report will be published in English shortly)

The Soltech company Takbyrån i Alingsås has received a new order for roofing contracting. The company has been commissioned by Peab to carry out roofing on what will be the new station building Göteborg Grand Central, which will be completed at the end of 2026. Takbyrån will carry out roofing of approximately 4,500 sqm, an installation that also needs to be adapted to the lush roof garden that will be established on top of the waterproofing membrane. The order value for Takbyrån amounts to approximately SEK 13 million.

Takbyrån was founded in 2014 and specializes in roofing and solar energy services for private individuals and companies. In 2021, the company became part of the Soltech Group and has in recent years transformed to become a solar roof company, in line with Soltech’s transformation strategy.

In addition to the transformation, the company has continued to strengthen and develop its core business in all types of roofing contracts for commercial and industrial properties. Now the company will start a new project in Gothenburg, where the new station building Göteborg Grand Central is currently being built. In the development of the property, there is a strong focus on sustainability and a clear ambition to keep the climate footprint low throughout. When a garden is to be developed on top of the roof, it places special demands on the roof contract in the form of services in water testing, sealing and leak detection of the new roof.

–Takbyrån is very proud to be able to contribute to the development of Göteborg Grand Central, which will be a meeting point and hub in central Gothenburg. This assignment places demands on high-quality roofing contracting, not least considering the greenery that will be established on top of the roof. We are ready to roll up our sleeves and get started and thank Peab for the trust, says Andreas Nordström, CEO of Takbyrån.

Photo: Reiulf Ramstad Arkitekter

The shareholders of Soltech Energy Sweden AB (publ), reg. no. 556709-9436, (the “Company”) are hereby invited to the annual general meeting on Thursday 22 May 2025 at 17:00 at “Agdas på hörnet”, Regeringsgatan 107 in Stockholm. Please note that the registration begins at 16:30.

Right to attend the annual general meeting and notice
Shareholders who wish to attend the general meeting must:

  1. on the record date, which is Wednesday 14 May 2025, be registered in the share register maintained by Euroclear Sweden AB (for nominee registered shares, also see below under the heading “Nominee registered shares”); and
  2. notify the Company of their participation and any assistants (no more than two) in the general meeting no later than Friday 16 May 2025. The notification shall be in writing to Baker & McKenzie Advokatbyrå KB, Attn: Filippa Kronsporre, Box 180, 101 23 Stockholm (kindly mark the envelope “Soltech annual general meeting 2025”), or via e-mail: filippa.kronsporre@bakermckenzie.com. The notification should state the name, personal/corporate identity number, shareholding, share classes address and telephone number and, when applicable, information about representatives, counsels and assistants. When applicable, complete authorization documents, such as registration certificates and powers of attorney for representatives and assistants, should be appended the notification.

Nominee registered shares
Shareholders, whose shares are registered in the name of a bank or other nominee, must temporarily register their shares in their own name with Euroclear Sweden AB in order to be entitled to participate in the general meeting. Such registration (so-called voting rights registration), which normally is processed in a few days, must be completed no later than on Wednesday 14 May 2025 and should therefore be requested from the nominee well before this date. Voting registration requested by a shareholder in such time that the registration has been made by the relevant nominee no later than on Friday 16 May 2025 will be considered in preparations of the share register.

Proxy etc.
A shareholder who wishes to be represented by proxy shall issue a written and dated proxy to the proxy holder. If the proxy is issued by a legal entity, a certified copy of the registration certificate or corresponding document (“Registration Certificate“) shall be enclosed. The proxy must not be more than one year old, however, the proxy may be older if it is stated that it is valid for a longer term, maximum five years. The proxy in original and the Registration Certificate, if any, must be available at the general meeting and a copy should well before the meeting be sent to the Company by regular mail or by e-mail to the address above and should, in order to facilitate the entrance to the general meeting, be at the Company’s disposal no later than on 16 May 2025.

A form proxy will be available on the Company’s website www.soltechenergy.com.

Advance voting
The shareholders may exercise their voting rights at the general meeting by voting in advance, so called postal voting in accordance with the Company’s articles of association. However, anyone wishing to attend the meeting room in person or by proxy must notify the company in accordance with the instructions under the heading “Right to attend and notification to the meeting” above. This means that notification only by advance voting is not sufficient for those who wish to attend the meeting room.

A special form shall be used for advance voting. The form is available on www.soltechenergy.com. A shareholder who is exercising its voting right through advance voting do not need to notify the Company of its attendance to the general meeting. The advance voting form is considered as the notification of attendance to the general meeting.

A special form must be used for advance voting. The form is available on the Company’s website, www.soltechenergy.com, and will be sent free of charge to shareholders who request it and provide their e-mail or postal address. Submission of the form is deemed to constitute registration for the General Meeting. The completed form must be received by the Company no later than Friday, May 16, 2025. The completed form can be sent by post to Baker & McKenzie Advokatbyrå KB, Attn: Filippa Kronsporre, Box 180, 101 23 Stockholm (please mark the envelope “Soltech Annual General Meeting 2025”) or by e-mail to Filippa.kronsporre@bakermckenzie.com.

The shareholder may not provide special instructions or conditions in the voting form. If so, the vote is invalid.

If the shareholder votes in advance by proxy, a written and dated power of attorney signed by the shareholder shall be attached to the advance voting form, see above.

Further instructions and conditions are included in the form for advance voting.

Proposed agenda

  1. Opening of the meeting and election of chairman of the meeting
  2. Preparation and approval of the voting list
  3. Approval of the agenda
  4. Election of one or two persons to certify the minutes
  5. Examination of whether the meeting has been duly convened
  6. Speech by the CEO
  7. Presentation of the annual report and the auditor’s report and the group annual report and the group auditor’s report for the financial year 2024
  8. Resolution regarding:
  1. adoption of income statement and balance sheet and the group income statement and the group balance sheet
  2. the profit or loss of the Company in accordance with the adopted balance sheet; and
  3. discharge from liability for the board of directors and the CEO
  1. Determination of fees to the board of directors and to the auditors
  2. Determination of the number of directors and auditors
  3. Election of the board of directors and auditors
  4. Resolution regarding amendments of the articles of association
  5. Resolution regarding authorization for the board to issue shares, warrants and/or convertibles
  6. Closing of the meeting

Proposition for resolution

Item 1: Opening of the meeting and election of chairman of the meeting
The nomination committee proposes that Carl Svernlöv, attorney at law, Baker & McKenzie, is appointed as chairman of the annual general meeting.

Item 8.b: Resolution regarding adoption of income statement and balance sheet and the group income statement and the group balance sheet
The board of directors proposes that all funds available for the annual general meeting shall be carried forward.

Item 9-11: Determination of fees to the board of directors and to the auditors, determination of the number of directors and auditors, election of the board of directors and auditors, and election of chairman to the board
The nomination committee proposes the following:

The nomination committee proposes that the remuneration to the board of directors is to be SEK 1,500,000 in total, excluding remuneration for committee work, and shall be paid to the board of directors in the following amounts:

  • SEK 300,000 for each of the directors and SEK 600,000 to the chairman (same as previous year).

It is further proposed that the remuneration for committee work shall be paid in the following amounts:

  • SEK 40,000 for each of the members and SEK 60,000 to the chairman of the audit committee (same as previous year); and
  • If the board establishes other committees, the fee for each member shall be SEK 40,000 and the fee for the chairman of the committee shall be SEK 60,000 (same as previous year).

The nomination committee proposes that the auditor shall be entitled to a fee in accordance with approved invoice.

The nomination committee proposes that the board shall consist of four directors. The nomination committee further proposes that the number of auditors shall be one registered audit firm.

The nomination committee proposes re-election of Stefan Ölander, Ivana Stankovic, Ove Anebygd and Bernt Ingman as directors until the end of the next annual general meeting. Furthermore, Stefan Ölander is proposed to be re-elected as chairman of the board of directors.

The nomination committee proposes to re-elect the registered audit firm PricewaterhouseCoopers AB as auditor for the period until the end of the next annual general meeting. PricewaterhouseCoopers AB has announced that the authorized auditor Claes Sjödin will continue as main responsible auditor in case they are elected as auditor.

The nomination committee’s complete proposal and motivated opinion as well as further information regarding the proposed directors are available at the Company’s website www.soltechenergy.com.

Item 12: Resolution regarding amendments of the articles of association
The board of directors of the Company proposes that the annual general meeting resolves to amend the Company’s articles of association as follows:

It is proposed that the number of shares in the Company be changed from a minimum of 80,000,000 and a maximum of 200,000,000 to a minimum of 80,000,000 and a maximum of 320,000,000. It is further proposed that the Company’s share capital be changed from a minimum of SEK 4,000,000 and a maximum of SEK 10,000,000 to a minimum of SEK 4,000,000 and a maximum of SEK 16,000,000.

The articles of association § 4 will thereby have the following wording:

“The share capital shall be no less than SEK 4,000,000 and not more than SEK 16,000,000.”

The articles of association § 5 will thereby have the following wording:

”The number of shares shall be not less than 80,000,000 and not more than 320,000,000.”

Item 13: Resolution regarding authorization for the board to issue shares, warrants and/or convertibles
The board of directors of the Company proposes that the annual general meeting resolves to authorize the board of directors during the period up until the next annual general meeting to, on one or more occasions, resolve to issue shares, warrants or convertibles with the right to subscribe for and convert for shares, respectively, with or without preferential rights for the shareholders, within the limits of the articles of association, to be paid in cash, in kind and/or by way of set-off.

The purpose for the board to resolve on issuances with deviation from the shareholders preferential rights in accordance with the above is primarily for the purpose to raise new capital to increase flexibility of the Company and a possibility to advance the development of the Company’s business or in connection with acquisitions and to diversify the shareholder base.

Issuances of new shares, convertibles or warrants under the authorization shall be made on customary terms and conditions based on current market conditions. If the board of directors finds it suitable in order to enable delivery of shares in connection with a share issuance as set out above it may be made at a subscription price corresponding to the shares quota value.

The board of directors or anyone appointed by the board of directors is given the right to make the adjustments necessary in connection with the registration of the resolution at the Companies Registration Office.

Majority requirements
Resolutions in accordance with item 12 and 13 are valid when supported by shareholders representing at least two-thirds of the votes cast and the shares represented at the general meeting.

Number of shares and votes
The total numbers of shares and votes in the Company on the date of this notice are 132,279,393. The Company holds no own shares.

Other
The annual report with the auditor’s report, the complete proposals, proxy form and other documents that shall be available in accordance with the Swedish Companies Act are available at the Company premises, Birger Jarlsgatan 41A, 111 45 Stockholm, and at the Company’s website, www.soltechenergy.com, at least three weeks in advance of the general meeting and will be sent to shareholders who request it and provide their e-mail or postal address.

The shareholders are hereby notified regarding the right, at the annual general meeting, to request information from the board of directors and managing director according to Ch. 7 § 32 of the Swedish Companies Act.

Processing of personal data
For information on how personal data is processed in relation the meeting, see the Privacy notice available on Euroclear Sweden AB’s website: https://www.euroclear.com/dam/ESw/Legal/Privacy-notice-bolagsstammor-engelska.pdf.

______________________________

Stockholm in April 2025
Soltech Energy Sweden AB (publ)
The board of directors

Solar and architecture combined. Solar facades are expected to become an increasingly important part of the development of the sustainable buildings of the future. Driven not least by upcoming EU requirements for solar energy for properties, the demand of locally produced solar electricity and growing sustainability requirements. Soltech Energy’s subsidiary Fasadsystem sees an increased demand for facade-integrated solar energy solutions and is therefore broadening its product range to meet the coming demand.

Fasadsystem is an industry leader in building-integrated solar cell facades, where solar panels replace and complement the classic facade material. The company has previously designed and installed solar facades on several larger properties, such as commercial properties, residential buildings and Sweden’s largest solar facade on a logistics property in Jönköping.

Solar facades are a solution that enables integrated energy production directly from the vertical surfaces of the building, making them an effective complement to roof-based solar panels. The solution is expected to grow as solar energy requirements for properties increase. The EU’s upcoming and stricter regulations on the energy performance of buildings emphasize that property owners will need to implement solar energy solutions from next year and onwards. This leads to Fasadsystem seeing a growing demand and therefore expanding its product range and accelerating its investment in solar facades.

– We clearly see a trend where property owners and architects are starting to look at aesthetically pleasing solar energy solutions, and we are therefore broadening and accelerating our offering of solar facades. This solution make it possible to integrate a renewable energy into the building and are a perfect alternative for larger properties, says Tommie Standerth, CEO of Fasadsystem.

Several benefits for property owners
In addition to meeting upcoming EU requirements for solar energy for buildings and generating self-generated electricity, solar facades also offer architectural opportunities. With customizable colors and designs, they can blend into the urban environment and meet specific real estate design requirements.

– Our solutions enable the combination of self-produced solar and an appealing design, such as the colourful solar facade we installed in Mölnlycke Fabriker. We are now taking the next step in our investment in offering large-scale solar facades as there is a large amount of unused façade area that could instead create great value for both property owners and the environment, concludes Tommie Standerth.

Advantages of solar facades

1. Optimized use of space
Solar facades use an area that is not otherwise used. This is particularly advantageous in urban environments where the roof area may be limited or where the existing roof structure does not allow for added weight in the form of roof-mounted solar installations.

2. Aesthetic benefits and integration in building Design
Building-integrated solar can be designed to blend in with the architecture of the building and its surroundings. Solar facades are an aesthetic and functional solution for both existing properties and new constructions.

3. Reduced energy costs and increased self-sufficiency
Solar facades produce solar electricity locally for the property’s operations. This leads to significant savings on electricity bills and reduced operating costs, especially for larger buildings.

4. Replaces other facade materials
Solar panels integrated into the facade replace traditional building materials and in turn create a seamless and climate-protective facade layer.

5. Environmental benefits and sustainable urban development
By implementing solar solutions, property owners can take a concrete step towards a more sustainable property and for a more sustainable urban development where solar energy is a central element.

Photo: Soltech/Radar Arkitektur/Gatun Arkitekter

Two Soltech companies, Provektor and Soltech Energy Solutions, together with the energy company Kvänum Energi, have installed and commissioned three battery installations totalling 3 MWh in connection with wind turbines, creating a hybrid solution with both batteries and wind power. The installations have been carried out in Vara and Hjo and the batteries are now ready to store surplus electricity, reduce electricity price variations and stabilize the electricity grid. Soltech’s order value for the project amounts to approximately SEK 19 million.

As the energy transition accelerates and more and more renewable energy is installed, so does the need for battery parks that stabilize the electricity grid. Soltech Energy Solutions has now helped Kvänum Energi in its battery investment in Varaslätten, which will be the first battery installations in connection with wind turbines in the area. A total of three batteries have been installed, with a total output of 3 MW.

The battery installations now enable the storage of excess energy from the wind turbines, ensuring a more even energy supply even when wind conditions vary. They will also contribute with local flexibility, power cutting at peaks and support services to Svenska kraftnät. In the project, Soltech Energy Solutions has been the project manager in collaboration with the sister company Provektor, which has assisted with the AC installations.

– It feels great that we have now designed and commissioned several large-scale batteries that complement the wind turbines. Together, a smart and robust hybrid solution is formed where wind power produces renewable electricity and the batteries store the electricity, increasing the utilization rate of existing grid connections and stabilizing the electricity grid. We are very pleased to be able to help Kvänum Energi with their future investment, says Daniel Grandin, Key Account Manager at Soltech Energy Solutions.

Growing area for Kvänum Energi
Kvänum Energi has been around for over 50 years and is an energy company that provides renewable electricity in the form of electric power and heat, a well-functioning grid and various solutions in bioenergy. The energy company sees it as an important step to invest in battery storage that contributes to the green transition and a reliable and flexible electricity grid.

– The fact that we, together with the end customer, are now commissioning a large-scale battery investment as a complement to the wind turbines is very valuable. In order to contribute even more to the green transition and consolidate our position as a pioneer in sustainable energy, this is an important solution for the future. We thank Soltech and the end customer for a good collaboration and are pleased that the batteries can now start to make a difference, says Johan Lindqvist, CEO of Kvänum Energi.

Soltech’s Spanish subsidiary Sud Renovables is now commissioning Soltech’s and the Balearic Islands’ largest floating solar installation to date. The solar panels are installed on top of a rainwater collection pond used for irrigation. The installed capacity is about 1.5 MWp and the solar panels cover an area of just over 9,000 sqm.

The Spanish solar energy company Sud Renovables, which became part of the Soltech Group in 2022, is active in solar energy and storage solutions for self-consumption of solar energy. The projects often consist of large-scale solar facades, roof-mounted solar systems, solar roofs for parking spaces and floating installations.

The company has now designed and installed the Balearic Islands’ largest floating solar installation on a rainwater collection pond in Capdepera, Mallorca. The investment is part of the municipality’s investments in renewable energy. The installation will also include bird protection devices to prevent interference from birds.

– After constructing the first floating installation in Catalonia, we are very proud to continue to grow in this type of solar installation, now in Mallorca. Floating solutions are very important in our area in southern Europe to help save water and as an alternative to using agricultural land. This is further proof that solar technology is fully compatible with agricultural operations, says Manel Romero, Chief Technology Officer and Co-Founder at Sud Renovables.

Reduces evaporation and increases the power of solar panels
Previously, Sud Renovables designed and installed Catalonia’s first floating solar system on top of a rainwater collection pond. This type of solution is expected to grow in number in the future as floating solar energy installations have a number of advantages, in addition to producing renewable solar electricity.

– First of all, I would like to congratulate Sud Renovables for completing a very inspiring project. Floating solar systems reduce evaporation of water dams, which is important in regions prone to drought. The water, in turn, helps to cool down the solar panels, which increases their output by 10-15 percent. We expect an increased demand for this type of installation and it feels great that our subsidiary is an industry leader in the field, says Patrik Hahne, CEO of Soltech Energy.

Photo: Sud Renovables/G-ener Renovables

Örebro-based Essa Glas is one of the Soltech Group’s façade companies and is active in façade contracting and solar energy for commercial properties. The company has been commissioned to assist the real estate company Atrium Ljungberg with façade contracting, solar energy and battery services in the development of Hus 43 Gamla & Nya Magasinet in the Slakthusområdet area in southern Stockholm. The project will continue during 2025 and the first half of 2026. The total order value amounts to approximately SEK 19 million.

The façade company Essa Glas & Aluminium has been part of the Soltech Group since 2022. The company performs exterior and interior glass solutions, solar facades and roof-mounted solar energy solutions for commercial properties. The business is run from the production facility in Örebro, but the company carries out projects in several of Sweden’s metropolitan regions.

They will now assist the real estate company Atrium Ljungberg in the development of the block that will be developed in the Slakthusområdet area. Among other things, renovation of a 100-year-old warehouse building with new facades, as well as all windows, roofs and facades for a new building in the block, is being carried out. The assignment also includes the design and installation of a roof-mounted solar solution of 102.7 kWp with two associated battery installations.

– It feels great to be able to carry out a project that clearly shows the strength of our overall offer. Everything from glass, roof and façade contracts to solar energy and batteries, and I am proud of how we have managed to broaden our offering. I would like to thank Atrium Ljungberg for the trust and for allowing us to contribute to the development of the area, says Ola Karlsson, CEO of Essa Glas.

Past meets future in Slakthusområdet
The block is undergoing a comprehensive transformation to integrate historic architecture with modern features. Among other things, both the preservation of the warehouse building and a new office building.

Photo: Atrium Ljungberg/Soltech

Large-scale solar parks are a fast-growing business area for the Soltech Group, and an increasingly important solution for society to cope with the energy transition. In just a few years, Soltech’s subsidiary Soltech Energy Solutions has developed a solar park portfolio with a potential of over 2,000 MWp, which corresponds to a land area of approximately 3,300 full-size football fields* if all is realized. Now just over 600 MWp of the solar park portfolio has been approved by various county administrative boards.

In recent years, Soltech Energy Solutions has developed the Development business area, which is active in large-scale ground-based solar parks. The company develops solar park projects that can also be supplemented with energy storage solutions with batteries. The project portfolio includes building rights and lease agreements of land, where the majority of the projects in the development phase are located in the electricity grid area SE4. If all the solar park projects in the portfolio were to be realized, the solar park portfolio corresponds to a land area of approximately 3,300 full-size football pitches.

– I am very pleased that we can now announce that over 600 MWp of our solar park projects have been approved by the County Administrative Board, which in itself corresponds to a land area of almost 1.000 full-size football fields. I want to dedicate this milestone to the solar park team here at Soltech Energy Solutions, who do a fantastic job every day to further develop our projects, says Christoffer Caesar, CEO of Soltech Energy Solutions.

Solar parks and batteries in combination
The strategy for the solar park portfolio is to divest the projects on an ongoing basis, in clusters or individually, as the projects are completed and ready for construction. In addition to large-scale solar parks, the need for energy storage solutions is also increasing. By offering energy storage with batteries together with the solar parks, the company is creating a solution that, in addition to the production of renewable electricity, also can contribute to reduced power problems and stabilization of the electricity grid.

The process of building a solar park:

  1. Identification & analysis
  2. Feasibility study
  3. Environmental assessment (At this stage, the County administrative board determines whether the solar park can be built on the site)
  4. Detailed design & procurement
  5. Construction of the solar park
  6. The park generates renewable electricity

* A football pitch is estimated to be 7,140 sqm. 1 ha = approx. 0.85 MW

Soltech Energy Solutions develops large-scale energy solutions for property owners. The company is now expanding its solar energy collaboration with Logicenters through an agreement for a new roof-mounted solar installation in Staffanstorp. With an output of 2.25 MW and 3,641 solar panels, this will be one of Logicenters’ largest solar investments to date and the 13th installation that Soltech is carrying out for the logistics property developer.

Soltech Energy Solutions is active in large-scale solar energy and energy storage solutions for property owners and energy companies, among others. The company has over 30 years of experience in creating smart and cost-effective renewable electricity production for commercial properties, not least in the growing segment of logistics properties.

The company has now signed a new agreement with logistics property developer Logicenters for a new solar energy solution in Kronoslätt’s industrial park, corresponding to an area of approximately 20,000 sqm.

– This is our 13th facility that we are constructing together with Logicenters, and it feels great that Soltech has continued to be entrusted. Logicenters has ambitious goals for its climate initiatives and continues to prove its ambitions. This time it also feels great that we are collaborating with our sister company, the electrical engineering company Provektor, in the project, and we look forward to starting the installation, says Daniel Grandin, Key Account Manager at Soltech Energy Solutions.

The new facility is expected to be completed in the second quarter of 2025, with commissioning in June.

– We have a clear strategy to develop sustainable logistics properties for our customers and invest in smart energy solutions. The fact that we are now building one of our largest solar plants is an important step in our work to reduce the climate footprint and make our properties more energy efficient. The solar installation in Kronoslätt’s industrial park is estimated to produce about 2,050 MWh per year – equivalent to the electricity consumption of 580 households or enough to power an electric car 270 times around the world, says Jon Malmsten, Solar Energy Expert at Logicenters.

Positive cash flow in a challenging market

CEO comment:

The long-term increased need for solar energy and energy storage remains and is becoming an increasingly important part of electrification and the energy transition. In the short term, we have had a continued challenging market to navigate in the quarter.

In the quarter, we saw a continued positive development in demand in the solar business segment in Sweden. It is also gratifying to see how our Roof, Façade and Electrical Engineering businesses continue to develop with stable core businesses and at the same time broaden the offering to include not only solar energy solutions, but also charging infrastructure and energy storage on both a larger and smaller scale. Despite a weak construction economy, we have managed to maintain relatively stable volumes in the quarter through a focus on energy solutions, service, maintenance and renovation work.

The decrease in the Group’s net sales for the full year 2024, compared to the previous year, is mainly explained by the decrease in net sales in the solar consumer market in all our geographic markets of the Netherlands, Spain and Sweden.

During the quarter, we have continued working on cost adjustments, efficiency improvements, and pricing. Throughout the full year of 2024, we have, among other things, reduced the workforce, and the cost savings implemented during 2024 are expected to take full effect in the second quarter of 2025.

In the fourth quarter, we strengthened our cash position, mainly as a result of positive changes in working capital, but also as a result of our sale of the Ramsjöholm solar park. It is gratifying that we have now completed our first transaction, in line with our strategy. This has freed up capital for future potential transactions.

I continue to have a positive view of the future, where solar energy and Soltech’s solutions in electrification create great opportunities over time. The upcoming EU requirements for solar energy on properties, together with society’s electrification with increased needs for energy storage and charging infrastructure, combined with monitoring, control and optimization, create new business opportunities. The latest interest rate cuts also create better prospects for our base in construction and construction. With our broad business base and expertise as well as the ability to offer technically advanced complete solutions, we are in a strong position to meet increased and new needs.

Patrik Hahne, CEO

Read the CEO’s comment in its entirety in the quarterly report.

QUARTER 4: 1 OCTOBER – 31 DECEMBER

  • Net sales amounted to SEK 664.3 (740.6) million
  • The Group’s organic growth amounted to -10% (-3)
  • EBITDA amounted to SEK 61.3 (58.1) million. EBITDA margin amounted to 9.2% (7.8)
  • EBITA amounted to SEK 39.9 (41.5) million. EBITA margin was 6.0% (5.6)
  • Profit after tax for the period amounted to SEK -217.5 (-120.2) million
  • Cash flow from operating activities amounted to SEK 100.6 (102.4) million. Cash flow for the period amounted to SEK 126.6 (50.8) million
  • Earnings per share before and after dilution amounted to SEK -1.64 (-0.91)

FULL YEAR: JANUARY 1 – DECEMBER 31

  • Net sales amounted to SEK 2,405.8 (2,904.4) million
  • The Group’s organic growth amounted to -18% (26)
  • EBITDA amounted to SEK 197.0 (128.5) million. EBITDA margin amounted to 8.2% (4.4)
  • EBITA amounted to SEK 129.5 (75.4) million. EBITA margin was 5.4% (2.6)
  • Profit after tax for the period amounted to SEK -278.1 (-165.9) million
  • Cash flow from operating activities amounted to SEK 91.5 (-0,9) million. Cash flow for the period amounted to SEK 21.7 (-62.5) million
  • Earnings per share before and after dilution amounted to SEK -2.10 (-1.25)

SIGNIFICANT EVENTS DURING THE QUARTER

  • Soltech launched the Soltech Home concept, needs-based solar energy solutions that enable optimization of energy production, energy use and reduced energy costs for private individuals and farmers
  • The solar tech company E-Mobility has developed and installed Stockholm’s first mobile fast charger for electric boats. The charger has an output of 200 kW
  • Solpark Ramsjöholm (11 MW) has been divested to Alight. Operation and maintenance will be handled by Soltech in the future through an operation and maintenance agreement
  • The signing of a new battery agreement with the battery company CA Batteribalans regarding assistance with the design, installation and commissioning of a large-scale battery park of 28 MWh. The battery storage facility will be built in Lerum and the installation is expected to be commissioned in April 2025
  • Completion of a battery park with a capacity of 42 MWh in collaboration with Hylte Paper. The installation is part of the previously communicated long-term energy collaboration, which in addition to batteries also includes Soltech assisting Hylte Paper with smart control, high-voltage equipment, batteries, integration with various arbitrage, operation and maintenance and other services. As previously communicated, the energy collaboration is expected to generate a business value of over SEK 250 million for Soltech over a 20-year period, with the majority of revenues in the first three years. The installation is now undergoing a trial period

SIGNIFICANT EVENTS AFTER THE PERIOD

  • No significant events after the period

The quarterly report and other financial reports are available at: https://soltechenergy.com/en/investors/financial-reports-calendar/