The company installed 4.5 (0.0) MW of solar power plants and signed new contracts for an additional 4.1 (13.5) MW. 46 (43) million kWh were produced which reduced CO2-related emissions by approximately 23,000 (27,000) tonnes. Financially, the quarter showed sales of SEK 40.5 (40.7) million and a profit after financial items and tax of SEK -15.9 (-35.3) million, affected by a positive currency effect of SEK 0.8 (-0.9) million.
The quarter, in short
JANUARY 1ST – MARCH 31ST
- The company installed a total of 4.5 (0.0) MW of roof-based solar energy plants and had 286.3 (250.3) MW installed capacity at the end of the quarter.
- 46 (43) million kWh were produced which reduced CO2-related emissions by approximately 23,000 (27,000) tonnes. Starting from Q1 2024, we are using updated figures to calculate the savings of CO2-related emissions. Based on the most recent available calculations of emissions in China, the savings between solar power-generated energy and China’s average emissions for its electricity production have decreased from 622 grams per kWh to 490 grams per kWh.
- At the end of the quarter, the company had 43 (58) MW in subscribed orders, as well as projects in the pipeline of 131 (118) MW.
- The company signed 3 (3) contracts amounting to a total installed capacity of 4.1 (13.5) MW.
The quarter, in numbers
JANUARY 1ST – MARCH 31ST
- Revenues (sales of electricity and subsidies) amounted to SEK 40.5 (40.7) million.
- Net sales (sales of electricity to customers and Grid) amounted to SEK 33.8 (33.2) million.
- Other operating income (subsidies and resale of electricity) amounted to SEK 6.7 (7.5) million.
- Operating expenses amounted to 36.3 (37.8) MSEK.
- Operating profit for the quarter amounted to SEK 4.2 (2.9) million.
- Interest expenses and similar income items amounted to SEK 21.0 (37.4) million.
- Profit for the quarter after financial items and tax amounted to SEK -15.9 (-35.3) million and was impacted by a currency effect of SEK 0.8 (-0.9) million. Adjusted for this item, profit for the quarter amounted to SEK -16.7 (-34.4) million.
- Total cash flow for the quarter amounted to SEK 4.4 (-8.2) million.
- Earnings per share before dilution amounted to SEK -0.28 (-0.89).
- The number of employees at the end of the period was 19 (18).
Significant events after then end of the period
- The company installed 5.3 MW of capacity and total installed capacity is now 291.6 MW.
- The company signed 1 contract amounting to an installed capacity of 0.8 MW.