Eolus Vind records net profit decline in FY 2018/19

Swedish wind project developer Eolus Vind AB (STO:EOLU-B) posted a net profit of SEK 132.8 million (USD 13.8m/EUR 12.4m), down 31.7% year-on-year, in its 2018/2019 fiscal year ending in August.

Full-year earnings before interest and taxes (EBIT) declined to SEK 118.3 million from SEK 202.4 million recorded in the previous fiscal cycle, according to the company’s financial results published on Wednesday.

Net sales picked up in 2018/19 and rose to SEK 2.032 billion from last year’s SEK 1.37 billion.

Other financial details are summarised in the table below:

At the end of the fourth quarter of 2019 Eolus had 524 MW under asset management, growing the capacity from 415 MW in the same period last year.

Power production from owned wind farms pulled in average revenues of SEK 560/MWh for the full year, up from SEK 470/MWh in 2017/18.

(SEK 1.0 = USD 0.104/EUR 0.094)

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