Continued strong development quarter 2 – an increase of 371 percent compared to quarter 2, 2018
SolTech Energy delivers another good quarter with revenue of SEK 92.3 million (SEK 19.6 million) and earnings (EBIT) of SEK 11.4 million (0.1) and with an EBITDA of SEK 18.4 million (0.7) m. Revenue is up 371 percent higher than quarter 2, 2018, which is largely to do with our three acquisitions during quarter 1, 2019 and an increased business volume in our Chinese operations. Compared with Q1, 2019, we increase revenues by 61 percent, SEK 92.3 million (56.4).
Strong quarter for SolTech:
- Total operating income, including ongoing work, amounted to SEK 92.3 (19.6) million. An increase of 371%
- Consolidated operating profit (EBIT) amounted to SEK 11.4 (0.1) million
- Operating profit before depreciation (EBITDA) SEK 18.4 (0.7) million
- Profit for the period after financial items and tax was SEK -3 (5.1) million
Half-year figures for the period 1 January – 30 June 2019
- Total operating income amounted to SEK 148.7 M (33). An increase of 350%
- Consolidated operating profit (EBIT) amounted to SEK 22.3 (-3.8) million
- Operating profit before depreciation (EBITDA) SEK 38.2 (-0.7) million
- Profit for the period after financial items and tax was SEK -12.6 M (0.7)
- New share issue raised SEK 100.2 million in new capital
- Continued strong expansion in China
- The bond loan SOLT1 repaid on the due date
Significant events after the reporting period
SolTech’s ASRE in China has signed four different agreements totaling 15.7 megawatts, which will yield about SEK 287 million during the term of the agreement for 20 years.
– I am very pleased with our second quarter. We are starting to show better and better numbers and we are facing the challenge of taking more than our share of the growing solar energy market. Doing good for the environment while building value for all our shareholders is what drives us.
For more information contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ)
Tel: 070-739 80 00. Email: firstname.lastname@example.org
The information in this press release is such that SolTech Energy Sweden AB (publ) is to publish in accordance with EU Regulation No 596/2014 on market abuse. The information was provided through the above contact person’s publication for publication on August 22, 2019 at. 07:15 CET.
About SolTech Energy Sweden AB (publ)
SolTech Energy develops and sells aesthetic and building-integrated solar energy products for all types of properties – commercial, public and villas. The products are part of an exterior shell of a property in the form of a roof or a wall with integrated solar cells for the production of electricity. The group includes the subsidiaries Nyedal Solenergi, NP-Gruppen and Swede Energy Power Solutions. SolTech Energy Sweden AB (publ), is traded on First North at Nasdaq Stockholm under the short name SOLT and has about 28,000 shareholders. The company’s Certified Adviser is Erik Penser Bank Phone: 08-463 83 00. Email: email@example.com. More info at: www.soltechenergy.com