Results in line with preliminary figures - strong cash flow supports continued execution
1 October - 31 December 2025
- Net sales amounted to 1,372 (729) MSEK.
- EBIT amounted to -313 (437) MSEK. Profit before tax amounted to -356 (433) MSEK.
- Net profit amounted to -312 (315) MSEK.
- Earnings per share before and after dilution equaled -12.14 (12.69) SEK.
- At the end of the period, Eolus had 1,274 (967) MW under asset management.
1 January - 31 December 2025
- Net sales amounted to 3,911 (851) MSEK.
- EBIT amounted to -310 (288) MSEK. Profit before tax amounted to -410 (272) MSEK.
- Net profit amounted to -356 (155) MSEK.
- Earnings per share before and after dilution equaled -13.92 (6.23) SEK.
- At the end of the period, Eolus had 1,274 (967) MW under asset management.
Significant events during the period
- On 23 December, Eolus completed the sale of the Swedish wind parks Fågelås, Dållebo and Boarp, all located in price area SE3, to Mirova. In connection with the sale, Eolus signed a 15-year operation and management agreement for the parks and an agreement to jointly develop energy storage systems at two of the parks with the owner.
Significant events after the balance sheet date
- On January 27, Eolus announced preliminary results and that the company would recognise impairments of projects, mainly offshore wind power projects. The impact of the impairment losses on operating profit for the fourth quarter amounted to approximately SEK -240 million.
- On 27 January, Eolus's Board announced its decision to withdraw the financial target of achieving a total operating profit of SEK 1,400 million over the period 2025-2027, but maintains the targets regarding return on equity, equity ratio and dividend policy.
- On 3 February, Eolus's customer took a final investment decision for 189 MW and 27 turbines in the onshore wind project Fageråsen. Eolus and DalaVind co-developed the project until it was sold to OX2 in July 2025. The decision triggers an instalment payment to Eolus that is expected to have a positive impact on cash flow and earnings in the first quarter 2026.
Comment from CEO Per Witalisson
"The fourth quarter's transactions generated a net cash flow of just over SEK 500 million, letting us turn net debt into net cash and enter 2026 with more than half a billion in the bank."
Invitation to the report presentation
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 Swedish with opportunity to ask questions in English or Swedish.
If you wish to participate via webcast, please use the link below:
https://eolus.events.inderes.com/q4-report-2025/register
Via the webcast you can ask written questions in English or Swedish.
If you wish to participate via teleconference please register on the link below:
https://events.inderes.com/eolus/q4-report-2025/dial-in
Financial summary
| 12 months | 12 months | ||||
| MSEK | Unit | Q4 2025 | Q4 2024 | 2025 | 2024 |
| Net sales | MSEK | 1,372 | 729 | 3,911 | 851 |
| Operating profit | MSEK | -313 | 437 | -310 | 288 |
| Profit before tax | MSEK | -356 | 433 | -410 | 272 |
| Net profit | MSEK | -312 | 315 | -356 | 155 |
| Earnings per share before and after dilution* | SEK | -12.14 | 12.69 | -13.92 | 6.23 |
| Equity per share* | SEK | 46.09 | 67.01 | 46.09 | 67.01 |
| Cashflow from operating activities | MSEK | 964 | -258 | 1,783 | -1,796 |
| Total assets | MSEK | 2,199 | 4,562 | 2,199 | 4,562 |
| Net debt - /net cash +* | MSEK | 19 | -1,788 | 19 | -1,788 |
| Order backlog | MSEK | 254 | 180 | 254 | 180 |
| Project under construction | MW | 282 | 456 | 282 | 456 |
| Taken into operation and handed over to customer | MW | 188 | - | 448 | - |
| Project portfolio | MW | 15,820 | 25,880 | 15,820 | 25,880 |
| Managed turbines | MW | 1,274 | 967 | 1,274 | 967 |
| Equity/assets ratio* | % | 55 | 38 | 55 | 38 |
| Return on equity after tax* | % | neg | 10 | neg | 10 |
* for definitions of alternative performance measures see page 32 of the report.
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 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 2026-02-11 07:45 CET.
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Project Pienava, Latvia
