Eolus AB (publ) (FRA:7EVB)

Q3 2024 Eolus Vind AB (publ) Earnings Call Transcript

Nov 20, 2024 / 09:00 AM GMT

Release Date Price: €3.92 (+0.38%)

Transcript

Key Points

Positve

Eolus Vind AB (STU:7EVB) received a significant milestone payment of $64.7 million from the Centennial Flats project, positively impacting Q4 results.
The company has a robust project pipeline, with ongoing construction projects in Sweden and the US progressing according to plan.
Eolus Vind AB (STU:7EVB) has secured full financing for the POM project in the US, ensuring its completion without financial strain.
The order backlog increased by over 100 million SEK, indicating strong future revenue potential.
The company is strategically positioned in the US market, which remains strong, providing a buffer against Nordic market softness.

Negative

No new sales transactions were completed in Q3, contributing to negative operating results for the quarter.
The Swedish government's rejection of offshore wind project permits led to a 40 million SEK write-down.
Higher interest costs and increased ROI expectations among investors may pressure project margins.
The company's net sales and operating profit significantly decreased compared to the previous year, with a net loss of 79 million SEK for the period.
Cash flow from operating activities was negative, primarily due to ongoing construction and investments in the project portfolio.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

EOLUb.ST - Eolus Vind AB (publ)
Q3 2024 Eolus Vind AB (publ) Earnings Call
Nov 20, 2024 / 09:00AM GMT

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Presentation
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Unidentified_1 [1]
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Go ahead.

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Unidentified_2 [2]
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A warm welcome to this presentation of the results for the third quarter of 2024. Your presenters today will be myself, Patson.

CEO and Kle A Pason CFO A UUS is a leading pure play developer in the business of shaping the future of renewable energy.

Leveraging more than 30 years of experience, we work across seven markets developing a 26 gigawatt portfolio of onshore and offshore wind solar and battery energy storage projects for, for major energy investors. We also manage close to one gigawatt of assets

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