Eolus Vind cuts loss, lifts sales in fiscal Q3

Swedish wind project developer Eolus Vind AB (STO:EOLU-B) on Thursday reported a net loss of SEK 4.6 million (USD 525,000/EUR 449,000) in the fiscal quarter through May, narrowing its year-ago deficit of SEK 5.7 million.

The smaller loss comes on the back of a rise in sales, which improved to SEK 22.6 million in the third fiscal quarter from SEK 9.3 million a year back. Electricity production from owned wind farms declined to 6.3 GWh from 11.6 GWh, with an average revenue of SEK 532 per MWh, against SEK 407 per MWh a year back.

More details about the company’s performance in the March-May quarter (Q3) and the first nine months of the fiscal year are shown in the table.

During the March-May quarter, Eolus did not put on stream any turbines, while it handed over to customers the equivalent of 1.8 wind turbines with an installed capacity of 1.4 MW.

At the end of May, the Swedish firm had 337 MW of assets under management, compared with 332 MW a year earlier.

(SEK 1.0 = USD 0.114/EUR 0.098)

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