SolTech Energy shows black numbers with the inclusion of one-off entries. Earnings in China increase by 116% – and for the whole concern by 52%.
Strong half-year for SolTech:
- Net sales amounted to 33.4 (vs. 22) MSEK, an increase of 52% as compared with the same period the previous year.
- The concern’s result amounted to 681 KSEK (-11,065 KSEK). Included in these figures are entries of a one-off, non-recurring nature totaling 2.3 MSEK, as well as currency exchange adjustments equivalent to 8.5 MSEK.
- The period’s operating result amounted to -3.8 (-9) MSEK; a 57% improvement as compared with the same period the previous year.
- Earnings per share amounted to -0.06 (-.36) SEK/share. Cash flow amounted to 0.6 (-28.34) MSEK.
- ASRE earnings increased to 13.9 MCNY (18.2 MSEK) – a 116% improvement as compared with the figure of 6.7 MCNY (8.4 MSEK) reported for the same period the previous year – of which 51% is consolidated in the concern.
- Wasa Rör has been a sold off entity as of March 1, 2018.
After the report period’s close:
- Continued stabile growth in China. All told, solar energy installations with a total capacity of 52.21 MW were coupled to the central network in August 2018, as compared with the 18.85 MW capacity coupled to the network at the same time point in 2017. On a rolling 12-month basis, this coupled capacity is estimated to generate approximately 70 MSEK in income annually.
- SolTech Energy’s jointly owned Chinese company ”ASRE” completes the takeover of a record 12.7 MW order placed by JiangSu YangHe Brewery with SolTech’s partner Advanced Solar Power Hangzhou Inc. Over the contract’s 20-year term, cumulative income is estimated to amount to approximately 276 MSEK.
- SolTech Energy’s Board of Directors appoints the Company’s current Chairman of the Board, Stefan Ölander, the new CEO of the Company effective as of August 31, 2018. At the same time, at the extraordinary general meeting the Board will propose that the current CEO, Frederic Telander, take over the role of Chairman of the Board of Directors, also to be effective as of August 31, 2018.
- Introduction of SolTech’s Chinese business operation on the Stock Exchange, with Advanced SolTech Sweden AB (publ.) ”ASAB” as the proposed parent company, is planned to be carried out in the late fall of 2019. This timeframe constitutes a postponement of previous information citing the second quarter of 2018, which was released earlier in a press massage.
For more information, please contact:
Frederic Telander, CEO SolTech Energy Sweden AB (publ.). Tel: 08-441 88 46, email: firstname.lastname@example.org
The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation 596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 24 August 2018, 09:00 CET.
SolTech Energy Sweden AB (publ.) – parent company of the SolTech concern
SolTech Energy develops and sells building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are a part of a building’s outer shell, as a roof, wall or window, containing semi-transparent solar cells for the production of electricity that simultaneously shuts out solar heat. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com