Eolus Vind

1 July-30 September 2024

• Net sales amounted to 24 (127) MSEK.
• EBIT amounted to -94 (159) MSEK. Write-downs amounting to 40 MSEK for the offshore projects Arkona and Skidbladner affect the results. Profit before tax amounted to -87 (134) MSEK.
• Net profit amounted to -79 (94) MSEK.
• Earnings per share, before and after dilution equaled -3.16 (3.79) SEK.
• At the end of the period, Eolus had 967 (817) MW under asset management.

1 January-30 September 2024

• Net sales amounted to 123 (2,146) MSEK.
• EBIT amounted to -149 (665) MSEK.
• Profit before tax amounted to -161 (625) MSEK.
• Net profit amounted to -161 (502) MSEK.
• Earnings per share, before and after dilution amounted to -6.45 (20.14) SEK.
• At the end of the period Eolus had 967 (817) MW under asset management.

Significant events during the period

• Eolus appointed Åsa Lamm as Chief People & Culture Officer and member of the Group Management. She assumed her position on 16 September 2024
• The Board of Directors resolved to repurchase own shares on Nasdaq Stockholm. The purpose of the repurchase is to secure future delivery of shares to the participants of Eolus’s long-term share savings program. Eolus purchased 18,000 own series B shares in September.

Significant events after the balance sheet date

• Eolus received a substantial milestone payment amounting to 64.7 MUSD for the solar and battery storage project Centennial Flats in the USA. The milestone payment is estimated to have a positive effect on Eolus’s operating profit of USD 51 million in the fourth quarter.
• The Swedish government announced the rejection of 13 applications for offshore wind power projects in the Baltic Sea, including Eolus’s projects Skidbladner (1,000 MW) and Arkona (1,200 MW). Write-downs amounting to 40 MSEK have impacted the third quarter results.

CEO comment

To summarize, we are seeing a split picture, where the situation is challenging in some of Eolus’s European markets, especially in the Nordic region, but the willingness to invest remains strong in the US. After almost 35 years in the industry, Eolus has both experience and stamina, and we feel confident that we can balance a weaker European market with a strong trend in the US.

- Per Witalisson, CEO

Financial Summary

Presentation of the report
At 10:00 today, CEO Per Witalisson and CFO Catharina Persson will present the report via a webcast with telephone conference.

In connection with the presentation, it will be possible to ask questions through the teleconference or in written form through the webcast. The presentation will be held in English.

Webcast
If you wish to participate via webcast, please use the link below:
https://ir.financialhearings.com/eolus-q3-report-2024
Via the webcast you can ask written questions.

Teleconference
If you wish to participate via teleconference, please register on the link below:
https://conference.financialhearings.com/teleconference/?id=50049446
After registration you will be provided phone number and a conference ID to access the conference.
You can ask questions verbally via the teleconference.