Strong growth in installed capacity and production. During the quarter, the company's 208 (192) solar PV installations produced a total of 98.6 (75.4) million kWh, an increase of 30.8% compared to the previous year. Through this, we have reduced carbon dioxide emissions by approximately 48,000 (37,000) tons. New contracts for an additional 10.6 (16.7) MW were signed during the quarter. Financially, the quarter showed sales of SEK 71.6 (64.7) million and a profit after financial items and tax of SEK 10.0 (6.0) million. This quarter, the currency effect was SEK -2.8 (0.0) million.
The quarter, in short
April 1st - June 30th
- The company installed a total of 38.7 (8.4) MW of roof-based solar PV installations and had 378.1 (293.3) MW installed capacity at the end of the quarter.
- 98.6 (75.4) million kWh were produced which reduced carbon dioxide related emissions by approximately 48,000 (37,000) tons.
- At the end of the quarter, the company had 15.6 (46.4) MW in subscribed orders, as well as projects in the pipeline of 131.1 (131.1) MW.
- The company signed 3 (4) contracts amounting to a total installed capacity of 10.6 (16.7) MW.
The quarter, in numbers
April 1st - June 30th
- Revenues (sales of electricity and subsidies) amounted to SEK 71.6 (64.7) million.
- Net sales (sales of electricity to customers and Grid) amounted to SEK 62.6 (55.8) million.
- Other operating income (subsidies and other) amounted to SEK 9.0 (8.9) million.
- Operating expenses amounted to SEK 39.3 (36.7) million
- Operating profit for the quarter amounted to SEK 32.3 (27.9) million.
- Interest expenses and similar charges amounted to SEK 19.9 (22.8) million.
- Profit for the quarter after financial items and tax amounted to SEK 10.0 (6.0) million and was impacted by a currency effect of SEK -2.8 (0.0) million. Adjusted for the currency effect, profit for the quarter amounted to SEK 12.8 (5.9) million.
- Total cash flow for the quarter amounted to SEK -50.1 (34.1) million.
- Earnings per share before dilution amounted to SEK 0.18 (0.10).
- The number of employees at the end of the period was 22 (19).
Year-to-date, in numbers
January 1st - June 30th
- Revenues amounted to SEK 117.9 (105.2) million, an increase of 12 percent compared to the previous year. Currency effects impacted revenues by SEK -4.8 (-3.7) million.
- Net sales amounted to SEK 100.8 (89.6) million, an increase of 12 percent. Currency effects impacted net sales by SEK -4.1 (-3.1) million.
- Other operating income amounted to SEK 17.1 (15.8) million.
- Operating expenses amounted to SEK 82.3 (73.1) million, an increase of 13 percent compared to the previous year. The cost increase is mainly attributable to scheduled depreciation and maintenance costs for solar energy installations increasing, as well as a currency effect of SEK 3.0 (2.3) million.
- Operating profit for the period amounted to SEK 35.6 (32.2) million.
- Interest expenses and similar income items amounted to SEK 42.4 (43.8) million. Interest-bearing debt has increased compared with the previous year, but the ongoing refinancing in China with lower interest rates as a result leads to lower interest expenses overall.
- Loss for the year after financial items and tax amounted to SEK -10.9 (-10.9) million and was impacted by a non-cash flow affecting currency effect of SEK -4.6 (0.8) million. Adjusted for this item, profit for the year amounted to SEK -6.3 (-10.8) million.
- Total cash flow for the period amounted to SEK -67.1 (38.5) million.
- Earnings per share before dilution amounted to SEK -0.19 (-0.17).
Significant events after the end of the period
- The interest rate on the leases of Agricultural Bank Financial Leasing Co., Ltd has been adjusted as of July 1, 2025 from 4.05% to 3.60% due to the lowering of the Chinese 5-year reference rate.
For more information, please contact:
Max Metelius, CEO Gigasun AB (publ)
Phone: +46 (0) 72 316 04 44
E-mail: max.metelius@gigasun.se
Stefan Salomonsson, CFO Gigasun AB (publ)
Phone: +46 (0) 70 220 80 00
E-mail: stefan.salomonsson@gigasun.se
Certified Advisor is FNCA Sweden AB
About the operation
Gigasun operates in China through its wholly owned subsidiaries Advanced Soltech Renewable Energy (Hangzhou) Co. Ltd ("ASRE") and Longrui Solar Energy (Suqian) Co. Ltd. ("SQ"), and Suqian Ruiyan New Energy Co., Ltd. ("RY").
The business model consists of financing, installing, owning and managing solar PV installations on customers' roofs in China. The customer does not pay for the solar PV installation, but instead enters an agreement to buy the electricity that the solar PV installation produces under a 20-year agreement. Current income comes from the sale of electricity to customers and governmental subsidies.
The goal is to have an installed capacity of 1,000 megawatts (MW) in the medium term.
This information is information that Gigasun AB (publ) 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 2025-08-25 13:00 CEST.
