As of 2019, SolTech Energy Sweden AB (publ) reports the Group’s sales and earnings quarterly. Sales for the Group for Q1 amounted to approximately SEK 44 million, which is 221% higher than Q1, 2018 (SEK 13.7 million). The operating profit as a whole is reported on April 25, 2019. The sharp increase is mainly due to the addition of the Group’s three acquisitions during the quarter and a stronger business flow from the Chinese operations.
The SolTech Group commences the year with a strong first quarter (Q1). The Swedish operations, including the acquisitions, increased sales from SEK 7 to 30 million (+ 328%). The Chinese operations in the joint venture ASRE increase from 6.7 to 14 MSEK (+ 109%).
CEO Stefan Ölander in a comment:
– We are very pleased with this strong start to the year, despite the fact that the first quarter is always the weakest purely sales-related in the solar energy industry. I am particularly proud of how well our acquisitions have entered the Group and that we have succeeded in bringing them to new heights with regard to delivered and contracted business.
Significant events within the Group during Q1:
Nyedal Solar Energy:
Revenue increase Q1 2019, Q1 2018, is + 79%.
Completion of solar energy projects for Förvaltaren in Sundbyberg, order value 2.5 MSEK.
During the period, confirmation for stage two of the solar power plant at Kattegattsgymnasiet in Halmstad, order value about SEK 800,000 and orders for Lundgrens Trädgårdar with PEAB, end customer Halmstad Fastighets AB, order value SEK 2 million, was also received.
Revenue increase Q1 2019, with Q1 2018, is + 30%.
During the period, framework agreements were signed with HBV (HBV is the purchasing function for Sweden’s public utility housing companies), which extends until 2029 regarding sales and assembly of solar energy.
Inquiries are already coming in for solar energy from the other clientele, which is very gratifying.
Revenue increase Q1 2019, with Q1 2018, is + 45%.
During the period, orders for solar power plants corresponding to SEK 9 million have been signed with eg. Gnosjö Automatsvarv, Plastsystem in Anderstorp and Örebro Hospital.
ASRE in China:
An exclusive five-year cooperation agreement was signed during the period with Jiangsu Siyang Administrative Committee of Economic Development Zone in Jiangsu Province, on the construction of 500 megawatts (MW) solar power capacity (100 MW annually for five years). The agreement is expected to be fully developed and, without funding from either the province or the central government, generate annual revenues of approximately SEK 465 million, provided financing.
To get a perspective on this agreement, it can be mentioned that the installed solar power effect in Sweden in 2018 amounted to 180 MW and that the total installed power in Sweden subsequently amounts to 411 MW.
For more information, please contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ) Tel: +46 70 739 80 00.
About SolTech Energy
SolTech Energy develops and sells aesthetic and building-integrated solar energy products for all types of real estate – commercial, public and residential. The products are part of a building’s outer shell in the form of a roof or a wall with integrated solar cells for the production of electricity. The Group also conducts operations in China where the business model consists of financing, owning and operating solar power plants on customers’ roofs and selling all the electricity that is produced. The Group also includes the subsidiaries Nyedal Solar Energy, the NP Group and Swede Energy, as well as the jointly owned companies ASAB in Sweden and ASRE in China. SolTech Energy Sweden AB (publ) is traded on First North at Nasdaq Stockholm under the short name SOLT and has about 15,000 shareholders. The Company’s Certified Adviser Erik Penser Bank Telephone: +46 8 463 83 00. Email: email@example.com. More info at: www.soltechenergy.com