{"id":4196,"date":"2021-08-20T08:00:00","date_gmt":"2021-08-20T08:00:00","guid":{"rendered":"https:\/\/new-stage.soltechenergy.com\/mfn_news\/soltech-energy-sweden-ab-publ-quarterly-report-for-the-period-april-june-2021\/"},"modified":"2024-05-08T13:22:38","modified_gmt":"2024-05-08T11:22:38","slug":"soltech-energy-sweden-ab-publ-quarterly-report-for-the-period-april-june-2021","status":"publish","type":"mfn_news","link":"https:\/\/soltechenergy.com\/en\/mfn_news\/soltech-energy-sweden-ab-publ-quarterly-report-for-the-period-april-june-2021\/","title":{"rendered":"Soltech Energy Sweden AB (publ) quarterly report for the period April-June 2021"},"content":{"rendered":"
\n

Strong growth during Q2<\/strong><\/p>\n<\/div>\n

\n

The financial year 2021 continues completely according to plan with strong growth during the second quarter. The Group's revenues increase by 71% to SEK 266.2 million and the Swedish operations increase by as much as 102% to SEK 220.7 million.<\/p>\n

CEO comment:
\u2022 I am proud to lead a group that is growing so fast and that contributes to a green energy transition. The future looks very bright.<\/p>\n

SECOND QUARTER IN BRIEF<\/p>\n

\u25aa The Group's revenues in the quarter amounted to SEK 266.2 (156.1) million. An increase of 71%.<\/p>\n

\u25aa Revenues in the Swedish operations grew to SEK 220.7 (109.1) million, an increase of 102%.<\/p>\n

\u25aa Revenues in the Chinese operations amounted to SEK 45.5 (47) million, a decrease of 3%.<\/p>\n

\u25aa The Group's profit before depreciation (EBITDA) amounted to SEK 29.3 (49.7) million. The decrease is mainly driven by increased personnel costs and investments that are associated with the strong expansion and the work of further developing the Group. EBITDA is also negatively affected by increased transport costs and price increases of e.g. a. solar panels as a result of the Corona pandemic.<\/p>\n

\u25aa The Group's operating profit (EBIT) amounted to SEK 8.3 (35.6) million. The decrease in operating profit is, in addition to what is stated above, also due to increased amortization of goodwill and solar energy facilities as a direct result of completed investments.<\/p>\n

\u25aa Profit for the period after tax amounted to SEK -31.8 million (-37). The result was affected by unrealized exchange rate differences in the Chinese operations by SEK 3.5 (-38.5) million.<\/p>\n

\u25aa Cash flow for the period from operating activities amounted to 48.9 (-13.3).<\/p>\n

\u25aa The period's cash flow for the Group amounted to SEK -25.5 (69.4) million.<\/p>\n

\u25aa Earnings per share amounted to -0.33 (-0.65).<\/p>\n

\u25aa Covid-19 affected the Swedish operations in the second quarter in the form of postponed projects, increased transport costs and price increases for, among other things, solar panels. However, order intake remains good.<\/p>\n

\u25aa The Chinese operations were affected to a lesser extent by the Corona pandemic as economic activity is high, but the Chinese price reduction of about five percent on electricity still remains.<\/p>\n

THE FIRST HALF OF THE SHORT<\/p>\n

\u25aa The Group's revenues amounted to SEK 411.4 (208.9) million. An increase of 97%.<\/p>\n

\u25aa Revenues in the Swedish operations grew to SEK 338.8 (146.9) million, an increase of 131%.<\/p>\n

\u25aa Revenues in the Chinese operations grew to SEK 72.6 (61.9) million, an increase of 17%.<\/p>\n

\u25aa The Group's profit before depreciation (EBITDA) amounted to SEK 21 (48.4) million. EBITDA was negatively affected by non-cash non-cash effects of SEK -11.7 million as a result of increased objectives and forecasts in acquired subsidiaries, which led to an increase in provisions for additional purchase consideration.<\/p>\n

\u25aa The Group's operating profit (EBIT) amounted to SEK -20.1 (20.7) million. EBIT was negatively affected by non-cash non-cash effects of SEK -11.7 million in accordance with the above.<\/p>\n

\u25aa Profit for the period after tax amounted to SEK -50 (-42.5) million. The result was affected by unrealized exchange rate differences in the Chinese operations of SEK 40.1 (-5.3) million and by non-cash effects affecting cash flow of SEK -11.7 million in accordance with the above.<\/p>\n

SIGNIFICANT EVENTS DURING THE SECOND QUARTER<\/p>\n

Sweden
\u25aa Soltech Energy Sweden AB (publ) acquired 100% of the shares in Rams El AB with access on May 3, 2021.<\/p>\n

\u25aa Soltech Energy Sweden AB (publ) acquired 100% of the shares in Takbyr\u00e5n i Alings\u00e5s AB (Takbyr\u00e5n) with access on 1 June 2021.<\/p>\n

\u25aa Soltech and Skanska Kommersiell Utveckling Norden have entered into a declaration of collaboration on innovations for building-integrated solar energy solutions.<\/p>\n

China<\/p>\n

\u25aa During the quarter, Soltech's subsidiary in China, ASRE, signed eight contracts amounting to a total installed capacity of 11 MW and is expected to generate annual revenues of SEK 7.9 million, or approximately SEK 158 million during the agreements' 20-year maturities.<\/p>\n

\u25aa During the quarter, Soltech's subsidiaries in China connected a total of 10 (1) MW of roof-based solar energy plants and had 192 (140) MW of installed and revenue-generating capacity at the end of the period.<\/p>\n

\u25aa At the end of the period, the company had 37 (46) MW in subscribed orders, as well as projects under processing of 123 (123) MW.<\/p>\n

SIGNIFICANT EVENTS AFTER THE REPORTING PERIOD<\/p>\n

\u25aa The Board of Directors of Soltech Energy AB (publ) has, with the support of the authorization of the Annual General Meeting, decided to carry out a new share issue of approximately SEK 247 million with preferential rights for existing shareholders (the \u201cRights Issue\u201d) and an Over-allotment issue of approximately SEK 150 million before deduction of issue costs.<\/p>\n

\u25aa Soltech's subsidiary Advanced Soltech Sweden AB raises SEK 46.6 million before issue costs in new issues of preference shares.<\/p>\n

\u25aa Soltech's subsidiary in China, ASRE, has signed four contracts amounting to a total installed capacity of 6.7 MW and is expected to generate annual revenues of SEK 5.2 million or approximately SEK 104.6 million during the agreements' 20-year maturities.<\/p>\n

\u25aa On 9 August 2021, the UN Climate Panel IPCC published its climate report, which clearly demonstrates the importance of taking the green transition seriously.<\/p>\n

Read the report on Soltechs site: https:\/\/soltechenergy.com\/en\/investors\/financial-reports-calendar\/<\/a><\/p>\n<\/div>\n

\n

For more information<\/strong><\/p>\n

\n

For more information, please contact:<\/strong>
Stefan \u00d6lander, VD Soltech Energy Sweden AB (publ) Tel: 070-739 80 00. E-post:\u00a0stefan.olander@soltechenergy.com\u00a0eller Niclas Lundin, CFO Soltech Tel: 072 071 03 09 or\u00a0niclas.lundin@soltechenergy.com<\/p>\n<\/div>\n

\n

About SolTech Energy Sweden AB (publ)<\/strong><\/p>\n

\n

Soltech is a comprehensive supplier that develops, sells, installs and optimizes solar energy solutions for our customers' needs. The Group includes the subsidiaries Advanced Soltech Sweden AB (publ) where the Chinese venture is conducted, Soltech Sales & Support, NP Group, Swede Energy Power Solutions, MeraSol, Soldags, Takorama,\u00a0Fasadsystem, Measol, Takrekond, Din\u00a0Takl\u00e4ggare,\u00a0Annelunds\u00a0Tak,\u00a0Ljungs\u00a0Sedum\u00a0Entreprenad, Provektor, Rams\u00a0El\u00a0and\u00a0Takbyr\u00e5n. Soltech Energy Sweden AB (publ), is traded on the Nasdaq First North Growth Market under the short name SOLT and has approximately 67 000 shareholders. The company's Certified Adviser is Erik Penser Bank. Phone: 08-463 83 00. Email: certifiedadviser@penser.se<\/a>. For more information see: www.soltechenergy.com<\/a><\/p>\n<\/div>\n

\n

This information is information that Soltech Energy Sweden is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2021-08-20 10:00 CEST.<\/em><\/p>\n<\/div>\n

\n

Attachments<\/strong><\/p>\n

\n

Soltech Energy Sweden AB (publ) Q2 2021<\/a><\/p>\n<\/div>\n