Strong start to the year in a turbulent context
1 January - 31 March 2025
- Sales amounted to 1,975 (44) MSEK.
- EBIT amounted to 164 (-29) MSEK. Profit before tax amounted to 129 (-29) MSEK.
- Net profit amounted to 90 (-32) MSEK.
- Earnings per share, before and after dilution equaled 3.60 (-1.30) SEK.
- At the end of the period, Eolus had 1,180 (939) MW under asset management.
Significant events during the period
- On January 6, Eolus signed an agreement for the sale of the Pome battery project. The total enterprise value for the project is in the USD 230-235.5 million range. On February 25, Eolus closed the sale of Pome and received a milestone payment of 275 MSEK. A final milestone payment of 25-30 MUSD in connection with start of commercial operations is expected in the first half of 2025.
- On March 21, Eolus Chairman Hans-Göran Stennert resigned at his own request. The board member Hans Linnarson assumed the position of acting Chairman of the Board.
- On March 28, Eolus and Hydro Rein completed construction of the onshore wind project Stor-Skälsjön and handed it over to the buyers.
- On March 31, Eolus announced that it was investigating the possibility of a green bond issue.
Significant events after the balance sheet date
- On April 11, Eolus published its Annual and Sustainability Report 2024. In connection with the publication, the Board communicated its proposal to distribute the dividend for fiscal year 2024 in two installments.
Comment from CEO Per Witalisson
"We started the year with a strong quarter in which the sale of Pome and completion of Stor-Skälsjön contributed substantially to both revenue and operating profit. Meanwhile, we saw good progress among the mature projects in our pipeline. We also took measures to adjust to developments within offshore wind and financial markets."
Invitation to presentation of the report
At 10:00 a.m. today a webcast with teleconference will be held, where the report is presented by CEO Per Witalisson and CFO Catharina Persson. The presentation will be held in English.
If you wish to participate via webcast, please use the link below:
https://eolus.events.inderes.com/q1-report-2025/register
If you wish to participate via teleconference please register on the link below: https://conference.inderes.com/teleconference/?id=5007771
Financial summary
| Unit | Q1 2025 | Q1 2024 | Rolling 12 Apr-Mar | 12 months 2024 | |
| Net sales | MSEK | 1,975 | 44 | 2,782 | 851 |
| EBIT | MSEK | 164 | -29 | 481 | 288 |
| Profit before tax | MSEK | 129 | -29 | 431 | 272 |
| Net profit | MSEK | 90 | -32 | 277 | 155 |
| Earnings per share before and after dilution | SEK | 3.60 | -1.30 | 11.11 | 6.22 |
| Equity per share | SEK | 66.93 | 61.45 | 66.93 | 66.90 |
| Cashflow from operating activities | MSEK | 1,411 | 20 | -405 | -1,796 |
| Total assets | MSEK | 2,841 | 2,958 | 2,841 | 4,562 |
| Net debt - /net cash + | MSEK | -354 | 139 | -354 | -1,788 |
| Order backlog | MSEK | 750 | 662 | 750 | 180 |
| Project under construction | MW | 196 | 456 | 196 | 456 |
| Taken into operation and handed over to customer | MW | 260 | 0 | 260 | 0 |
| Project portfolio | MW | 25,523 | 28,095 | 25,523 | 25,880 |
| Managed turbines | MW | 1,180 | 939 | 1,180 | 967 |
| Equity/assets ratio | % | 61 | 54 | 61 | 38 |
| Return on equity after tax | % | 17 | 44 | 17 | 10 |
For further information, please contact:
Per Witalisson, CEO, +46 702 65 16 15, per.witalisson@eolus.com
Harald Cavalli-Björkman, Investor Relations Manager, +46 705 90 32 04, harald.cavalli-bjorkman@eolus.com
About Eolus
Eolus is a leading developer of innovative and customized renewable energy solutions. We offer attractive and sustainable investments in the Nordics, the Baltics, Poland and the USA. From development of greenfield projects to construction and operation of renewable energy assets, we are part of the entire value chain. For over three decades we have worked for a future where everyone can lead a fulfilling, yet sustainable life. Today, our project portfolio includes more than 25 GW wind, solar and energy storage projects. Eolus - shaping the future of renewable energy.
Eolus's Class B share is listed on Nasdaq Stockholm. www.eolus.com
This information is information that Eolus 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 2025-05-14 07:45 CEST.
Image Attachments
View of Pome BESS in Poway, California, USA
