Sustainable Energy Solutions

2023-10-01 – 2023-12-31 (fourth quarter)

• Net sales amounted to 6,398 kSEK (2,599).
• Operating result before depreciation and amortization, EBITDA, was 1,873 kSEK (-2,317), an improved result by 4,190 kSEK compared to the previous period.
• Cash flow from operating activities was 7,179 kSEK (-6,274), improved by 13,453 kSEK compared to the previous period.

kSEK = thousand SEK

The full report is available in Swedish on SENS's website (https://www.sens.se) and as an attached file.

Comment from Henrik Boman:
The year 2023 has been a journey filled with productive progress and decisive strategic initiatives for SENS, giving us reason for optimism for the future. During the period, SENS, with great drive and commitment, continued to expand its business, strengthen our partnerships, and consolidate our position as a leading player in sustainable energy both nationally and internationally.

The lack of energy storage and frequency regulation resources means that Svenska Kraftnät currently offers high compensation levels for those who can deliver regulation services, e.g., FCR-D. At the same time, many developers are trying to obtain permits for new battery connections around Sweden, which in the long term is expected to lead to a larger supply of regulation services, a more saturated market, and thus lower compensations from Svenska Kraftnät. Therefore, there is great value in quickly getting new facilities operational. But also, like SENS, to have a wide range of products and services.

SENS has made significant progress during the year and has successfully shortened the lead times from application to concession dramatically in several locations.