SolTech Energy Sweden AB (publ.)
Strong increase in sales
- Strong rise in the concern’s sales: 40.1 MSEK (12.4*) ($4.72 / $1.46 M US**).
- Impressive growth in the concern’s order book: 20.65 MSEK ($2.4 M US) as of 31 Dec., versus 11.3 MSEK ($1.3 M US) reported for the same period the previous year.
- Heavy investment to install solar energy in China has begun, as planned. SolTech’s subsidiary in China, ASRE, is now established.
- Three orders have been signed and sealed in China during 2015, and the first installations have been carried out.
- SolTech’s new stock issue was over-subscribed and its stock subsequently successfully listed on First North at Nasdaq Stockholm.
Business developments subsequent to the report period
- Strategic five-year cooperation agreement contract, corresponding to 150 MW, signed by ASRE, SolTech’s jointly owned subsidiary in China.
- An order relating to the production of 8.68 – 10.68 MW signed by ASRE since the turn of the year.
- An exclusive cooperation agreement contract with Sapa, operational in the Nordic and Baltic regions, has been signed.
- SolTech’s technology is chosen as the featured example of scientific educational achievement for this year’s KTH (Kungliga Tekniska Högskolan/Royal Institute of Technology) 2016/17 Course Catalog.
January – December
- Net sales increased to 40.1 (12.4*) MSEK ($4.72 / $1.46 M US**)
- Operational income for the concern improved by 0.2 MSEK ($23,500 US) to: – 13.1 MSEK (- $54 M US)
- The concern’s net profit after tax amounted to: – 13.2 (13.6) MSEK (- $1.55 /- $6 M US)
- Yield per stock amounted to: – 0.52 (- 0.7) SEK (- $0.5 / $0.7 US)
- Cash flow, including funds provided by the new stock issue (after allowance for new issue costs) amounted to: 25.5 (2.1) MSEK
- No dividend payout for the period was put forward.
2015 / second half
- Net sales amounted to 19.4 (11.3) MSEK ($2.3 / $1.3 M US**).
- An increase of 70% as compared to the same period the previous year.
- The period’s result amounted to: – 7.8 (-8.8) MSEK (- $920,000/ – $1,040,000 US)
- The earnings per share result amounted to: – .31 (- .46) Swedish Krona per share (- 4 cents / – 6 cents US)
- Cash flow amounted to: – 16.8 MSEK (- $1.98 M US)
* Concern figures for 2014 (cited in parenthesis) refer to the period 1 August – 31 December: The concern did not exist prior to 1 August 2014.
** Based on an exchange rate of 8.5 SEK/US Dollar.
SolTech in brief
The concern consists of the parent company Soltech Energy Sweden AB (publ.), the wholly owned subsidiary Wasa Rör T. Mickelsson AB, as well as 51% ownership the concern’s subsidiary in China, Advanced SolTech Renewable Energy, Hangshou Co. Ltd., which pursues the concern’s business interests and operations in China.
SolTech Energy develops and sells a solar energy systems that are a part of a building’s outer shell; specifically, roofs and/or walls formed of glass (panels or glass plates) that function as both weather protection and sun-catchers for the production of heat, hot water and electricity. The assortment of suitable glass also includes unique thin-film solar cells in black and/or semi-transparent glass – or as isolated glass modules in various sizes and formats that allow for esthetic integration with a building’s outer shell.
The business model in China encompasses the installation, ownership, and periodic maintenance of solar energy installations mounted on the roofs of customer-owned facilities, which – for the present – is taking place in Hangzhou in Zhejiang Province, with the aim of subsequently expanding into other regions of China. The customer does not pay for the installed solar energy unit, but instead is committed to a long-term contract (20 + years) to buy all the electricity and/or thermal heat the relevant unit produces. Income comes from the sale of electricity to customers, in combination with various forms of subsidies determined on a per kWh produced basis.
The concern’s headquarters are located in Stockholm and SolTech shares are listed on First North at Nasdaq Stockholm, trading under the symbol “SOLT”. Currently, the company has approximately 5,600 shareholders and its Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.se.