Eolus Vind AB Year End Report September 1, 2019 – December 31, 2020
Hässleholm, Sweden, February 19th, 2021
4 Months September 2020 – December 2020
- Net sales 1077.5 (465.9) MSEK.
- EBIT 59.8 (210.9) MSEK. Profit before tax 36.2 (180.9) MSEK. Net profit 30.1 (185.0) MSEK.
- Earnings per share, before and after dilution equals 1.21 (7.43) SEK.
- During the four months period 0 (43) wind turbines were taken into operations with a total installed capacity of 0 (163.4) MW.
- During the four months period the equivalent of 39 (29) wind turbines with an installed capacity of 161.1 (105.2) MW was handed over to customers.
- At the end of the period Eolus had 903 (687) MW under asset management.
- On August 27th, 2020, an Extraordinary General Meeting was held that decided to change the company’s financial year to run from January 1st to December 31st. The financial year 2019/2020 was extended to cover a period of 16 months, September 1st, 2019 to December 31st, 2020. This has led to five financial statements being given where the fifth covers four months, September 1 – December 31 2020. The comparative figures for the fifth period cover four months, September 1 – December 31 2019. In total the financial year is 16 months.
- In September Eolus signed an agreement with Commerz Real regarding the sale of the wind farms Boarp (24 MW), Dållebo (26 MW) and Rosenskog (18 MW) totaling 68 MW for a preliminary purchase price of EUR 82.5 million. An agreement has been signed with Siemens Gamesa Renewables for delivery of 7 Siemens Gamesa SG 5.8-170 wind turbines and 4 Siemens Gamesa SG 5.8-155 wind turbines to the wind farms which are expected to be completed in the autumn of 2023. Eolus will deliver technical and administrative services for the wind farms.
- In October Eolus signed an agreement with Cubico Sustainable Investments regarding the sale of the turn key wind farm Wind Wall 1 (46.5 MW) located near Tehachapi in California, USA. Construction is ongoing.
- For the financial year 2019/2020 the Board of directors proposes a dividend of 2.00 (1.50) SEK per share.
Significant events after the balance sheet date
- In January 2021 Eolus signed individual PPA:s with a major global energy company for the three wind farms Boarp, Dållebo and Rosenskog totaling 68 MW. The agreements cover 100 % of the produced electricity volume in the wind farms which are sold to Commerz Real.
Dividend, Annual Report and Annual General Meeting
- The Annual Report will be published during week 12 of 2021. The Annual General Meeting will be held on May 19th, 2021. The Board of directors will propose a dividend of 2.00 (1.50) SEK.
Financial summary | 4 months | 4 months | 16 months | 12 months |
Sep 2020 | Sep 2019 | Sep 2019 | Sep 2018 | |
-Dec 2020 | -Dec 2019 | -Dec 2020 | -Aug 2019 | |
Net sales, MSEK | 1 077,5 | 465,9 | 2 468,6 | 2 031,9 |
EBIT, MSEK | 59,8 | 210,9 | 280,0 | 118,3 |
Profit before tax, MSEK | 36,2 | 180,9 | 182,6 | 116,0 |
Changes in market valuation of financial derivatives, MSEK | 19,2 | 30,9 | 69,6 | -24,9 |
Net profit, MSEK | 30,1 | 185,0 | 198,3 | 132,8 |
Earnings per share before and after dilution, SEK | 1,21 | 7,43 | 7,96 | 5,33 |
Equity per share, SEK | 41,63 | 35,65 | 41,63 | 15,61 |
Cashflow from operating activities, MSEK | -113,0 | -230,8 | -483,7 | 566,6 |
Total assets, MSEK | 1 808,2 | 2 000,4 | 1 808,2 | 2 057,8 |
Net debt - /net cash +, MSEK | 304,2 | 563,4 | 304,2 | 800,1 |
Signed customer contracts, MSEK | 5 130,9 | 5 138,9 | 5 130,9 | 1 348,9 |
No of turbines taken into operation, amount | 0,0 | 43,0 | 81,0 | 31,0 |
No of turbines handed over to customers, amount | 0,0 | 43,0 | 83,0 | 34,0 |
Turbines taken into operation, MW | 0,0 | 163,4 | 323,7 | 115,2 |
Turbines handed over to customers, MW | 0,0 | 163,4 | 325,3 | 120,0 |
Managed turbines, MW | 903 | 687 | 903 | 524 |
Equity/assets ratio, % | 57,3 | 53,8 | 57,3 | 43,2 |
Return on equity after tax, % | 20,6 | 33,9 | 20,6 | 15,6 |
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