Eolus Vind AB (OSTO:EOLU B)
kr 74.6 1 (1.36%) Market Cap: 1.86 Bil Enterprise Value: 1.97 Bil PE Ratio: 3.34 PB Ratio: 1.21 GF Score: 77/100
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Q2 2022 Eolus Vind AB (publ) Earnings Call Transcript

Aug 30, 2022 / 08:00AM GMT
Release Date Price: kr131.95 (+18.98%)
Per Witalisson
Eolus Vind AB - CEO

Good morning, all, and welcome to the Q2 presentation from Eolus.

We can start at slide number 2. We're summarizing second quarter with good outcome, both financially and with the good progress of the project portfolio. We had net sales of more than SEK1.4 billion, with a net profit of SEK225 million.

This profit is stemming from the sale of the 260-megawatt Swedish wind project Stor-Skälsjön. Eolus owned 51% of that project, and the rest was owned by the minority owner, Hydro. Therefore, SEK103 million of the net profit is attributable to the shareholders of Eolus. And this was, of course, the major event of the quarter.

We also increased our stake in the FagerÃ¥sen wind power project to 49%. Late June, we communicated further delays of the Ãyfjellet wind project. And at the end of the quarter, 68 out of 72 turbines had started to generate electricity. This figure, as of today, is 71 out of 72. So we are approaching completion of the project finally.

In beginning of July, we also secured financing of SEK1.5 billion from credit

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