Interim report - SolTech Energy Sweden AB (publ) january - june 2016

 

Strong growth and great interest in the concern’s products

  • Net sales rose to 25.2 (20.6) MSEK [$2.96 ($2.42) M US] an increase of 22% as compared with sales recorded for the same period in the previous year.
  • Excluding ”non-recurring items”*, the groups result amounted to approximately -4.0 (-5.3) MSEK [-$470,000 (-$623,500) US], equivalent to -0.15 (-.21) SEK / share [-1.8 cents (-2.5 cents) US / share].
  • The period’s reported result amounted to approximately -9.0 (-5.3) MSEK [-$ 1,100,000 (-$624,000) US], equivalent to -0.34 (-0.21) SEK/share [-4 cents (2.5 cents) US].
  • Cash/flow, including funds received from a new issue of common stock in SolTech Energy Sweden AB (publ.) and the new bond issue in Advanced SolTech Sweden AB (publ.) amounted to 43.6 MSEK ($5.13 M US).

*  … ”non-recurring items/entries” – here, in the form of costs associated with ASAB’s bond issue, diverse development costs re SolTech ShingEl, plus costs associated with the establishment of ASRE in China, as well as ”one-time” earnings, cumulatively totaled approximately 5 MSEK ($580,000 US).

Subsequent to the report-period’s release

  • Solar energy installations in China, connected to the central electric network at the time of the report-period’s release, amounted to
  • Solar energy installations in China, connected to the central electrical network by the close of 2016, are expected to mount to 16.47 MW, equivalent to a current annual income of approximately 27 MSEK ($3.2 M US) for ASRE.
  • The increased order backlog/situation for ASRE in China* is reflected in the figure of 11.5 / 15.5 MW of as yet to be installed solar energy capacity, as compared with 0.96 MW reported in the same period the previous year.
  • Increase in the groups overall order backlog – excluding China – is reflected in the figure of 21.3 MSEK ($3.2 M US) as compared with 16 MSEK ($2 M US) reported in the same period in 2015.
  • Orders from Skanska resulting from the contract with Sapa Building Systems are configured.

* Here, “order backlog/situation” is defined as contracted installations that are either not under construction or not as yet up and running.

Read the report in its entirety here (only in Swedish).

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