{"id":4317,"date":"2020-08-21T11:20:00","date_gmt":"2020-08-21T11:20:00","guid":{"rendered":"https:\/\/new-stage.soltechenergy.com\/mfn_news\/soltech-energy-sweden-ab-publ-quarterly-report-for-the-period-april-june-2020\/"},"modified":"2024-05-08T13:37:24","modified_gmt":"2024-05-08T11:37:24","slug":"soltech-energy-sweden-ab-publ-quarterly-report-for-the-period-april-june-2020","status":"publish","type":"mfn_news","link":"https:\/\/soltechenergy.com\/en\/mfn_news\/soltech-energy-sweden-ab-publ-quarterly-report-for-the-period-april-june-2020\/","title":{"rendered":"Soltech Energy Sweden AB (publ) quarterly report for the period April – June 2020"},"content":{"rendered":"
Continued strong growth
\nSoltech delivers a sales increase of 69 percent and an increase in operating profit (EBIT) of 210 percent compared with the second quarter of 2019. We expect that our expansion journey will continue, and that this year's sales will exceed last year's by a good margin.<\/strong><\/div>\n

CEO comment:<\/span><\/span><\/strong><\/span><\/span><\/p>\n

– The world has experienced a dizzying quarter and I am proud that our subsidiaries deliver such strong growth. Soltech is in an expansive phase and I look forward to building on our group and delivering value to our owners.<\/span><\/span><\/span><\/p>\n

Second quarter in brief<\/span><\/span><\/span><\/span><\/strong><\/span><\/p>\n

\u25aa The Group's revenues in the quarter amounted to SEK 156.1 (92.3) million. An increase of 69%
\n\u25aa Revenues in the Swedish operations grew to SEK 109.1 (63.8) million, an increase of 71%
\n\u25aa The Group's profit before depreciation (EBITDA) amounted to SEK 49.7 (18.4) million.
\n\u00a0\u00a0\u00a0 An increase of 170%
\n\u25aa The Group's operating profit (EBIT) amounted to SEK 35.6 (11.5) million. An increase of 210%
\n\u25aa Profit for the period after tax amounted to SEK -37 (-3) million. The result was affected by \u00a0\u00a0
\n\u00a0\u00a0 unrealized exchange rate differences in the Chinese operations by SEK -38.5 (-0.0) million
\n\u25aa The period's cash flow for the Group amounted to SEK 69.4 (-13.6) million
\n\u25aa Earnings per share amounted to -0.65 (-0.17)
\n\u25aa Covid-19 is not expected to have a significant impact on Swedish operations in the second
\n\u00a0\u00a0 quarter. The main impact in the Swedish operations is that projects are pushed forward and
\n\u00a0 \u00a0that it takes longer to reach a decision. Despite this, Soltech had a very good order intake
\n\u00a0\u00a0 during the quarter, which contributes to the increased sales compared with the corresponding
\n\u00a0\u00a0 period last year.
\n\u25aa Operations in China returned to a normal level during the quarter, where all installed capacity
\n\u00a0\u00a0 of 143 MW now generates revenue as expected. However, revenues were negatively affected
\n\u00a0\u00a0 in the period by approximately SEK 5 million due to temporary price reductions on electricity in
\n\u00a0 \u00a0combination with a small part of the production facilities being closed until the end of May.
\n\u00a0 \u00a0This is a direct result of Covid-19.<\/span><\/span><\/span><\/p>\n

First half year in summary<\/span><\/span><\/span><\/span><\/strong><\/span><\/p>\n

\u25aa Total operating income amounted to SEK 209 M (148.7). One increase by 40%
\n\u25aa The Group's operating profit before depreciation (EBITDA) amounted to SEK 48.4 (38.2)
\n\u00a0\u00a0 million. An increase of 26%
\n\u25aa The Group's operating profit (EBIT) amounted to SEK 20.8 (22.3) million. A reduction of 6%
\n\u25aa Profit for the period after financial items, currency effects and tax amounted to SEK -42.5
\n\u00a0\u00a0 (-12.6) million<\/span><\/span><\/span><\/p>\n

Significant events during the period<\/span><\/span><\/span><\/span><\/strong><\/span><\/p>\n

\u25aa On May 4, Soltech took over as owner of 70% of Fasadsystem in Stenkullen AB
\n\u25aa Soltech becomes the official sponsor of the Swedish investment in Expo 2020 in Dubai
\n\u25aa Over SEK 80 million in order value at Soltech's subsidiaries in April-May despite Covid-19
\n\u00a0\u00a0 pandemic
\n\u25aa Soltech's subsidiary Advanced Soltech Sweden AB (publ) directed offer of up to SEK 100
\n\u00a0 \u00a0million under the existing bond framework oversubscribed
\n\u25aa Soltech's subsidiary Advanced Soltech signs a cooperation agreement that, when fully
\n\u00a0\u00a0 developed, provides just over SEK 31 million per year and takes orders of SEK 30.4 million
\n\u25aa Soltech Energy Sweden AB (publ) option program (2015\/2020), which was established in 2015
\n\u00a0\u00a0 before listing of the Company's shares on Nasdaq First North, has to the extent allotted and
\n\u00a0 \u00a0subscribed, been redeemed by the holders
\n\u25aa Anna Kinberg Batra was elected by the Annual General Meeting as the new
\n\u00a0\u00a0 Chairman of the Board
\n\u25aa Max Metelius is appointed CEO and Frederic Telander Chairman of Advanced Soltech
\n\u00a0\u00a0 as of June 24<\/span><\/span><\/span><\/p>\n

Significant events after the reporting period<\/span><\/span><\/span><\/span><\/strong><\/span><\/p>\n

\u25aa Advanced Soltechs ASRE receives two new orders that provide a total of approximately
\n\u00a0\u00a0 SEK 130 million during the contract period
\n\u25aa Soltech Energy Sweden AB (publ) announces rights issue of SEK 98 million with possible
\n\u00a0\u00a0 overallotment issue of a maximum of 46 to finance continued expansion through acquisitions
\n\u00a0\u00a0 and to develop existing subsidiaries<\/span><\/span><\/span><\/p>\n

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

Stefan \u00d6lander, CEO Soltech Energy Sweden AB (publ) Tel: 070-739 80 00.
\nEmail: stefan.olander@soltechenergy.com.<\/span><\/span><\/span><\/p>\n

The information in this press release is such that Soltech Energy Sweden AB (publ) must publish in accordance with EU regulation no. 596\/2014 on market abuse. The information was submitted through the above contact person for publication on 21 August 2020 at 13.00 CET.<\/span><\/span><\/span><\/em><\/span><\/p>\n

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

Soltech is a complete 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 investment is conducted, Soltech Sales & Support, NP-Gruppen, Swede Energy Power Solutions, Merasol, Soldags, Takorama and Fasadsystem. Soltech Energy Sweden AB (publ), is traded on the Nasdaq First North Growth Market under the short name SOLT and has approximately 34,000 shareholders. The company's Certified Adviser is Erik Penser Bank. Phone: 08-463 83 00. Email: certifiedadviser@penser.se. For more information see: www.soltechenergy.com<\/span><\/span><\/span><\/span><\/p>\n

<\/div>\n