{"id":6946,"date":"2023-08-23T11:00:00","date_gmt":"2023-08-23T11:00:00","guid":{"rendered":"https:\/\/soltechenergy.com\/mfn_news\/soltech-energy-sweden-ab-publ-quarterly-report-for-the-period-april-june-2023\/"},"modified":"2024-05-08T10:46:01","modified_gmt":"2024-05-08T08:46:01","slug":"soltech-energy-sweden-ab-publ-quarterly-report-for-the-period-april-june-2023","status":"publish","type":"mfn_news","link":"https:\/\/soltechenergy.com\/en\/mfn_news\/soltech-energy-sweden-ab-publ-quarterly-report-for-the-period-april-june-2023\/","title":{"rendered":"Soltech Energy Sweden AB (publ) quarterly report for the period April-June 2023"},"content":{"rendered":"
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Strong profitability improvement and high growth<\/strong><\/p>\n<\/div>\n

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

Soltech once again delivers both strong growth and strong profitability.
EBITDA is SEK 31.8 million for the quarter, which is an increase of SEK 76 million compared to last year and our organic growth remains high with 31% in the quarter. The improvement in profitability also results in a significantly higher cash flow from operating activities, which amounted to SEK 40.9 million in the quarter. Our focus on high quality solutions with specialist competencies in solar, roof, fa\u00e7ade and electrical technology is starting to pay off and this is the third profitable quarter in a row.<\/p>\n

We have a strong quarter behind us and are in the middle of an exciting fall with great business opportunities in all our segments. Not least in solar parks and battery system solutions, where we have many interesting projects coming .<\/p>\n

SECOND QUARTER HIGHLIGHTS<\/strong><\/p>\n

\u2022 Total revenue increased by 70% to SEK 743.3 (437) million. Growth is driven by both acquisitions and organic growth<\/p>\n

\u2022 The Group's organic growth was 31% (35%), adjusted for the effects of exchange rate fluctuations. All segments show good organic growth with continued high demand for services where the solar transformation contributes to new business opportunities<\/p>\n

\u2022 EBITDA amounted to SEK 31.8 (-44.2) million, the profitability improvement is attributable to a continuous focus on profitability, hard work, synergies and improved purchasing processes<\/p>\n

\u2022 Operating profit (EBIT) amounted to MSEK 14.4 (-46.7).<\/p>\n

\u2022 Cash flow from operating activities amounted to MSEK 40.9 (-42)<\/p>\n

\u2022 Earnings per share before and after dilution amounted to SEK -0.05 (-0.42)<\/p>\n

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

\u2022 This is the Group's first financial report prepared in accordance with IFRS. Comparative figures have also been recalculated<\/p>\n

\u2022 Soltech has on April 3, through its subsidiary Takorama AB, acquired 100% of the electrical engineering company Din Elkontakt i Kung\u00e4lv AB<\/p>\n

\u2022 Soltech's Annual General Meeting was held on May 11<\/p>\n

FIRST HALF OF THE YEAR IN BRIEF<\/strong><\/p>\n

\u2022 Total revenue increased by 96% to SEK 1,426.3 (724.4) million. Growth is driven by acquisitions and organic growth<\/p>\n

\u2022 The Group's organic growth amounted to 39% (39%), not affected by exchange rate fluctuations. All segments show good organic growth with continued high demand for services where the solar transformation contributes to new business opportunities<\/p>\n

\u2022 EBITDA amounted to SEK 39 (-74.4) million, the profitability improvement is attributable to a continuous focus on profitability, hard work, synergies and improved purchasing processes<\/p>\n

\u2022 Operating profit (EBIT) amounted to MSEK 4.9 (-83.8).<\/p>\n

\u2022 Cash flow from operating activities amounted to MSEK 0.4 (-113)<\/p>\n

\u2022 Earnings per share before and after dilution amounted to SEK -0.35 (-0.85)<\/p>\n<\/div>\n

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

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Stefan \u00d6lander, CEO, 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 80 000 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 2023-08-23 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) Q2 2023<\/a><\/p>\n<\/div>\n