SolTech Energy’s new goal is to reach SEK 4.7 billion in operating income in 2024
SolTech Energy has previously announced a target to reach MSEK 300 in operating income during the 2019 financial year, which the Company is also expected to achieve in accordance with the report for Q3, 2019. Now SolTech sets a new growth target of SEK 4.7 billion in operating income in 2024. EBIT is calculated to between 3–6 percent with the goal of reaching 8–10 percent in the long run. The Chinese operations are not included in this target as the plan is to list Advanced SolTech Sweden AB (publ) on the Nasdaq First North Growth Market during the first half of 2020.
The solar energy market is facing very strong growth. In Sweden, only 0.3 percent of our energy came from the sun in 2018. In Germany, the corresponding figure was 8 percent in 2018. In the energy agreement from 2016, the goal is for Sweden to have 100 percent renewable electricity generation by 2040. The industry agrees that solar energy’s market share should be at least 10 percent. This means an increase of 33 times and a market valued at approximately SEK 100 billion annually, compared to about SEK 3.4 billion in 2018.
SolTech will achieve these goals through organic growth and an aggressive acquisition strategy that will take the Company out into the Nordic region and eventually also into Europe. SolTech will focus on companies within solar energy as well as roofing, façade, battery / charging and electricity industries, as well as companies with smart energy solutions for control and control.
CEO Stefan Ölander comments:
In the next few years, it will be clear which players will dominate the solar energy market. We are convinced that SolTech will be one of the winners as we already have the aesthetic and integrated solar energy products of the future, a clear acquisition strategy that is constantly adding new entrepreneurs and businesses as well as access to capital and quick business decisions.
For more information contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ) Tel: 070-739 80 00. E-mail: email@example.com
The information in this press release is such that SolTech Energy Sweden AB (publ) is to publish in accordance with EU Regulation No 596/2014 on market abuse. The information was provided through the above contact person’s publication for publication on November 13, 2019 at. 07.30 CET.
About SolTech Energy Sweden AB (publ)
The SolTech Energy Group develops and sells aesthetic and building-integrated solar energy products for all types of properties – commercial, public and villas. The products are part of an exterior shell of a property in the form of a roof or a wall with integrated solar cells for the production of electricity. The group includes the subsidiaries SolTech Sales & Support, NP-Gruppen and Swede Energy Power Solutions. SolTech Energy Sweden AB (publ), is traded on Nasdaq First North Growth Market under the short name SOLT and has approximately 31,000 shareholders. The company’s Certified Adviser is Erik Penser Bank Phone: 08-463 83 00. Email: firstname.lastname@example.org. More info at: www.soltechenergy.com