{"id":6281,"date":"2023-05-11T11:00:00","date_gmt":"2023-05-11T11:00:00","guid":{"rendered":"https:\/\/soltechenergy.com\/mfn_news\/soltech-energy-sweden-ab-publ-quarterly-report-for-the-period-january-march-2023\/"},"modified":"2024-05-08T13:00:47","modified_gmt":"2024-05-08T11:00:47","slug":"soltech-energy-sweden-ab-publ-quarterly-report-for-the-period-january-march-2023","status":"publish","type":"mfn_news","link":"https:\/\/soltechenergy.com\/en\/mfn_news\/soltech-energy-sweden-ab-publ-quarterly-report-for-the-period-january-march-2023\/","title":{"rendered":"Soltech Energy Sweden AB (publ) quarterly report for the period January-March 2023"},"content":{"rendered":"
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SOLTECH DELIVERS 66% ORGANIC GROWTH AND CONTINUED PROFITABILITY IN THE UNDERLYING BUSINESS<\/strong><\/p>\n<\/div>\n

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

Soltech's first quarter 2023 shows that total revenues in the Group amounted to SEK 683 (287.5) million, an increase of 138%. The Group's organic growth amounted to 66 (43) %. These very strong growth figures are delivered, even though we are now focusing more on achieving profitability than on growing, so it is something to be extra proud of for all colleagues. I want to thank our entrepreneurs and our almost 900 employees for great efforts during the quarter.<\/p>\n

During four years, Soltech has grown from approx. 50 MSEK in revenue to approx. 2,000 MSEK in the past year, and we are now seeing the effects of being a Group with several billion in revenue. We are therefore continuing the work to increase synergy effects, which is a focus that will have a positive effect in all parts of the Group. Not least on the result.<\/p>\n

FIRST QUARTER IN BRIEF<\/strong><\/p>\n

\u2022 Total revenues in the group amounted to SEK 683 (287.5) million,
an increase of 138%.<\/p>\n

\u2022 The group's organic growth amounted to 66 (43) %.<\/p>\n

\u2022 Adjusted EBITDA* amounted to SEK 5.8 (-33.4) million.<\/p>\n

\u2022 Adjusted EBIT* amounted to -28.6 (-48.1) MSEK, the negative result
explained by write-offs of mainly goodwill.<\/p>\n

The group's earnings before depreciation (EBITDA) amounted to -5.8 (-38.5)
MSEK. EBITDA has been affected by results from shares in associated companies
with -11.6 (-5.1) MSEK. The group's operating profit (EBIT) amounted to
-40.1 (-53.2) MSEK.<\/p>\n

\u2022 The period's profit after tax amounted to -46.9 (-53.2) MSEK.<\/p>\n

\u2022 The period's cash flow from operating activities amounted to
-45.7 (-71.2) MSEK, which is driven by growth and increased capital formation
mainly in stock.<\/p>\n

\u2022 The period's cash flow for the group amounted to -41.5 (-80.2) MSEK.<\/p>\n

\u2022 Earnings per share amounted to -0.35 (-0.52) SEK.<\/p>\n

SIGNIFICANT EVENTS DURING THE FIRST QUARTER<\/strong><\/p>\n

SIGNIFICANT EVENTS IN SUBSIDIARY COMPANIES:<\/p>\n

\u2022 Soltech's Spanish subsidiary Sud Renovables has installed Catalonia's and the Soltech group's first floating solar energy installation. The solar panels are installed on top of a collection pond for rainwater that is used for irrigation in agriculture. The solar panels are expected to produce approximately 140,000 kWh annually.<\/p>\n

\u2022 Soltech's subsidiary E-Mobility has commissioned one of Sweden's largest
charging stations with 15 charging places for large trucks for Gothenburg's Lastbilscentral
(GLC) in Gothenburg. All charging points have power fast charging and can handle a total of 1500 amps and 1 megawatt, which corresponds to the electricity consumption of around 100 villas.<\/p>\n

ACQUISITION:<\/strong><\/p>\n

\u2022 Soltech has on 31 January, through the subsidiary Takbyr\u00e5n in Alings\u00e5s
AB, acquired 100% of V\u00e5rg\u00e5rda Solenergi AB with entry on February 1.<\/p>\n

\u2022 Soltech has on February 2, through the subsidiary Wettergrens Tak, acquired 100% of the shares in Pl\u00e5tteamet i \u00d6rnsk\u00f6ldsvik AB with entry on 1 February.<\/p>\n

\u2022 Soltech has on March 6, through the subsidiary Din Takl\u00e4ggare i Arvika AB, acquired 100% of the electrical engineering company Arvika Elinstallationer with entry on April 3.<\/p>\n

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

ACQUISITION:<\/strong><\/p>\n

\u2022 On April 3, Soltech, through the subsidiary Takorama AB, acquired 100% of the electrical engineering company Your electrical contact in Kung\u00e4lv AB with entry the same day.<\/p>\n

OTHER:<\/strong><\/p>\n

\u2022 Soltech's annual general meeting will be held on 11 May 2023 at 17.00<\/p>\n

The quarterly report and other financial reports are available at: https:\/\/soltechenergy.com\/investerare\/finansiella-rapporter-kalender\/<\/a><\/p>\n<\/div>\n

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

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Stefan \u00d6lander, vd, Soltech Energy Sweden AB
Phone: 070-739 80 00
Mail:\u00a0stefan.olander@soltechenergy.com<\/a><\/p>\n

Niclas Lundin, CFO, Soltech Energy Sweden AB
Phone: 072 071 03 09
Mail: niclas.lundin@soltechenergy.com<\/a><\/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. Soltech Energy Sweden AB (publ), is traded on the Nasdaq First North Growth Market under the short name SOLT and has approximately 78 000 shareholders. The company's Certified Adviser is Erik Penser Bank. For more information see: https:\/\/soltechenergy.com\/en\/<\/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 2023-05-11 13:00 CEST.<\/em><\/p>\n<\/div>\n

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

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Soltech Energy Sweden AB (publ) Q1 2023<\/a><\/p>\n<\/div>\n