{"id":4237,"date":"2021-05-12T06:30:00","date_gmt":"2021-05-12T06:30:00","guid":{"rendered":"https:\/\/new-stage.soltechenergy.com\/mfn_news\/soltech-energy-sweden-ab-publ-quarterly-report-for-the-period-january-march-2021\/"},"modified":"2024-05-08T13:03:17","modified_gmt":"2024-05-08T11:03:17","slug":"soltech-energy-sweden-ab-publ-quarterly-report-for-the-period-january-march-2021","status":"publish","type":"mfn_news","link":"https:\/\/soltechenergy.com\/en\/mfn_news\/soltech-energy-sweden-ab-publ-quarterly-report-for-the-period-january-march-2021\/","title":{"rendered":"Soltech Energy Sweden AB (publ) quarterly report for the period January – March 2021"},"content":{"rendered":"
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Strong growth during the first quarter<\/strong><\/p>\n<\/div>\n

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Despite the Corona pandemic affecting society to a greater extent in the first quarter of this year compared with 2020, Soltech succeeds in delivering very strong growth. The Group\u2019s revenues increase by as much as 175% to SEK 145.2 million and the Swedish operations increase by as much as 212% to SEK 118.1 million.<\/p>\n

CEO comment:<\/strong>
– Our focus is growth and I am very pleased with our performance during the first quarter, which in terms of revenue is the toughest quarter of the year in our industries.<\/p>\n

First quarter in brief<\/strong>
\u2022 The Group\u2019s revenues in the quarter amounted to SEK 145.2 (52.8) million. An increase of 175%
\u2022 Revenues in the Swedish operations grew to SEK 118.1 (37.8) million, an increase of 212%
\u2022 Revenues in the Chinese operations grew to SEK 27.11 (15) million, an increase of 81%<\/p>\n

\u2022 The Group\u2019s profit before depreciation (EBITDA) amounted to SEK -8.3 (-1.3) million. EBITDA was negatively affected by non-cash affecting effects of SEK -11.7 million as a result of increased targets and forecasts, which led to an increase in provisions for additional earn out costs<\/p>\n

\u2022 The Group\u2019s operating profit (EBIT) amounted to SEK -28.4 (-14.7) million. EBIT has been negatively affected by non-cash affecting effects of SEK -11.7 million as above<\/p>\n

\u2022 Profit after tax for the period amounted to SEK -18.2, (-5.5) million. The result was affected by unrealized exchange rate differences in the Chinese operations by SEK 40.1 (34.8) million and by non-cash affecting effects of SEK -11.7 million as above<\/p>\n

\u2022 Cash flow for the period from operating activities amounted to -4.7 (-17.3)
\u2022 The period\u2019s cash flow for the Group amounted to SEK -101.7 (-61.4) million
\u2022 Earnings per share amounted to -0.33 (-0.05)
\u2022 Covid-19 affected the Swedish operations in the first quarter, mainly in the form of postponed projects. However, order intake remains good<\/p>\n

Significant events during the first quarter<\/strong><\/p>\n

Sweden<\/strong>
\u2022 Soltech acquired 76% of the shares in Annelunds Tak AB and 52% of the shares in Ljungs Sedum Entreprenad AB
\u2022 Soltech acquired the remaining 40% of the shares in the subsidiaries Swede Energy and Merasol to create the best conditions to become an even larger player in the solar energy market. Soltech now owns 100% of both companies, which strengthens the offer in the corporate and real estate market in solar energy
\u2022 Soltech acquired 100% of the electrical engineering company Provektor Sweden and its subsidiaries
\u2022 Six of Soltech's subsidiaries have together received the order to build the Nordic region's largest solar fa\u00e7ade project with an order value of SEK 12 million
\u2022 New solar collaboration has begun between Soltech's subsidiaries Soldags and LRF, which will make it easier for more farmers to become micro-producers of solar energy.
\u2022 Soltech's Chairman of the Board Anna Kinberg Batra was elected new Chairman of the Board of Swedish Solar Energy
\u2022 Soltech sponsors the Architecture Gala<\/p>\n

China<\/strong>
\u2022 Soltech's subsidiary in China, ASRE, signed seven orders during the quarter, which in total are expected to generate annual revenues of SEK 11.1 million, or approximately SEK 221.6 million during the agreements' 20-year maturities
\u2022 The Soltech Group is awarded a prize in China as \u201cThe most influential solar investment company 2020\u201d
\u2022 During the quarter, Soltech's subsidiaries in China connected a total of 5.8 MW of roof-based solar power plants and had a total of 182.4 MW in producing plants at the end of the quarter.<\/p>\n

Significant events after the reporting period<\/strong>
\u2022 Soltech acquired 100% of the shares in Rams El.
\u2022 Soltech's subsidiaries Swede Energy and Castellum win the Solar Energy Award 2021 in the category \u201cPlant of the Year\u201d. The winning facility is Hisingen Logistics Park with a roof-mounted solar cell facility of 30,000 m2
\u2022 Soltech's subsidiary Swede Energy is building a 3,000 m2 solar cell plant at the e-retailer Matsmart's central warehouse in \u00d6rebro
\u2022 Soltech's subsidiary in China, ASRE, has signed three orders that are estimated to generate annual revenues of SEK 1.2 million, or approximately SEK 31.4 million during the agreements' 20-year maturities<\/p>\n<\/div>\n

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

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Stefan \u00d6lander, VD Soltech Energy. Tel: 070 739 80 00 or mail stefan.olander@soltechenergy.com<\/p>\n<\/div>\n

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

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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\u00a0and\u00a0Rams\u00a0El. Soltech Energy Sweden AB (publ), is traded on the Nasdaq First North Growth Market under the short name SOLT and has approximately 65 000 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

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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 2021-05-12 08:30 CEST.<\/em><\/p>\n<\/div>\n

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

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Soltech Energy Sweden AB (publ) Q1 2021[2]<\/a><\/p>\n<\/div>\n