{"id":7566,"date":"2023-11-16T12:00:00","date_gmt":"2023-11-16T11:00:00","guid":{"rendered":"https:\/\/soltechenergy.com\/mfn_news\/soltech-energy-sweden-ab-publ-quarterly-report-for-the-period-july-september-2023\/"},"modified":"2024-05-08T10:21:48","modified_gmt":"2024-05-08T08:21:48","slug":"soltech-energy-sweden-ab-publ-quarterly-report-for-the-period-july-september-2023","status":"publish","type":"mfn_news","link":"https:\/\/soltechenergy.com\/en\/mfn_news\/soltech-energy-sweden-ab-publ-quarterly-report-for-the-period-july-september-2023\/","title":{"rendered":"Soltech Energy Sweden AB (publ) quarterly report for the period July-September 2023"},"content":{"rendered":"
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Continued improvement in profitability and high organic growth<\/strong><\/p>\n<\/div>\n

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

Soltech delivers another quarter with strong growth and a strong improvement in profitability. We reached SEK 741 million in net sales and an EBITDA of SEK 32.8 million, which is an increase of 54% in net sales and close to SEK 80 million in profitability improvements compared to the third quarter of 2022. This is also our fourth consecutive quarter with improved profitability.<\/p>\n

Even in these challenging times, we are strengthening our position and deliver net sales of SEK 2,164 million during the first nine months of the year. The fact that our organic growth for the quarter amounts to 38 percent is proof that our entrepreneurs and employees thrive and develop in the Soltech Group, something we are very proud of.<\/p>\n

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

\u2022 Net sales increased by 54% to SEK 741.0 (480.1) million. Growth in the quarter was mainly driven by organic growth.<\/p>\n

\u2022 The Group's organic growth, adjusted for exchange rate fluctuations, amounted to 38% (44%).<\/p>\n

\u2022 EBITDA amounted to SEK 32.8 (-46.8) million, the improvement in profitability is attributable to a continuous focus on profitability, synergies and improved purchasing processes. EBITDA includes revaluation effects of earn-outs of SEK 7.3 (0) million.<\/p>\n

\u2022 Operating profit (EBIT) amounted to SEK 14.6 (-68.2) million.<\/p>\n

\u2022 Cash flow from operating activities amounted SEK -100.6 (-33.3) million.<\/p>\n

\u2022 Earnings per share before dilution amounted to SEK -0.01 (-0.76) and after dilution to SEK -0.01 (-0.61).<\/p>\n

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

\u2022 On July 5, Soltech acquired 100% of the electrical engineering company Tekniska l\u00f6sningar i T\u00e4by AB.<\/p>\n

\u2022 On July 11, Soltech acquired the remaining 30% of the subsidiary Takorama, which after the acquisition is a wholly owned subsidiary.<\/p>\n

\u2022 On September 1, Soltech has, through its subsidiary Takrekond, acquired Icopal Entreprenad in Helsingborg, which becomes part of Takrekond.<\/p>\n

INTERIM PERIOD JANUARY 1 \u2013 SEPTEMBER 30<\/strong><\/p>\n

\u2022 Net sales increased by 80% to SEK 2,163.8 (1,199) million. Growth is driven by organic growth and acquisitions.<\/p>\n

\u2022 The Group's organic growth, adjusted for exchange rate fluctuations, was 41% (39%). All segments show good organic growth with continued demand for services where the solar transformation contributes to new business opportunities.<\/p>\n

\u2022 EBITDA amounted to SEK 71.9 (-121.2) million, the improvement in profitability is attributable to a continuous focus on profitability, synergies and improved purchasing processes. EBITDA includes revaluation effects of earn-outs of SEK 8.3 (0) million.<\/p>\n

\u2022 Operating profit (EBIT) amounted SEK 22 million (-151.8).<\/p>\n

\u2022 Cash flow from operating activities amounted SEK -100.2 million (-146.5).<\/p>\n

\u2022 Earnings per share before and after dilution amounted to SEK -0.32 (-1.59).<\/p>\n

The quarterly report and other financial reports are available at: <\/em>https:\/\/soltechenergy.com\/investerare\/finansiella-rapporter-kalender\/<\/a><\/em><\/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 2023-11-16 13:00 CET.<\/em><\/p>\n<\/div>\n

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

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Soltech Energy Sweden AB (publ) Q3 2023<\/a><\/p>\n<\/div>\n