Swedish wind developer Eolus posts 7.8% Y/Y rise in fiscal Q2 profit
Wind turbines in Sweden. Author: Arctic Mirror.
Swedish wind project developer Eolus Vind AB (STO:EOLU-B) today said its net profit for the fiscal quarter through end-February 2019 has increased by 7.8% in annual terms to SEK 38.7 million (USD 4.05m/EUR 3.64m).
The improved result comes on the back of a 165.6% year-on-year jump in net sales, which totalled SEK 370.2 million. Earnings before interest and tax (EBIT), however, declined by 13.7% on a yearly basis to SEK 25.9 million.
More details about the company’s performance in the December 2018-February 2019 period (Q2) and the first half of its fiscal year are shown in the table.
Amounts in SEK
Sep 2018-Feb 2019
Sep 2017-Feb 2018
At the end of February, Eolus had 421 MW of assets under management, up from 350 MW a year back. The electricity generated by company-owned wind parks amounted to 3.1 GWh, a drop from 9.3 GWh a year earlier.
During the second fiscal quarter, the Swedish firm brought online three wind turbines totalling 10.8 MW, against 4.4 MW in the year-ago period. The machines that were put into operation were handed over to customers during the reporting period.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.