Slide 1: Q3 Report 2024
Q3 Report 2024 20 November 2024 Per Witalisson, CEO Catharina Persson, CFO 1
Slide 2: A pure-play renewable energy developer
A pure-play renewable energy developer Portfolio of 26.2 GW Portfolio by Technology 30/09/2024 (MW) Portfolio Development Q4 23-Q3 24 (MW) 22% 5,833 MW 11% Onshore wind 2,855 MW Offshore wind 31% 25% 8,153 MW 3% 6,443 MW Solar 750 MW 20% 5,262 MW Storage 33% Total 26,251 MW 42% 8,800 MW Q4 2023 Q1 2
Slide 3: Agenda
Agenda • Highlights and portfolio update – CEO Per Witalisson • Financial update – CFO Catharina Persson • Outlook – CEO Per Witalisson • Q&A 3
Slide 4: Agenda
Agenda • Highlights and portfolio update – CEO Per Witalisson • Financial update – CFO Catharina Persson • Outlook – CEO Per Witalisson • Q&A 4
Slide 5: Q3 2024 Highlights
Q3 2024 Highlights Sales • No new sales in Q3. • Continued focus on Pome BESS in United States and Fågelås, Dållebo and Boarp in Sweden. • Initiated sales processes for Ölme (73 MW) in Sweden and Pienava (158 MW) in Latvia. Construction • Centennial Flats BESS project proceeded to construction, trig
Slide 6: Centennial Flats, Arizona
UNDER CONSTRUCTION Centennial Flats, Arizona • 500 MWac solar and 267 MW battery capacity project. • Eolus sold the project in 2022 and gets paid by milestone achievements. Total CAPEX estimated around 1.2 bn USD. 767 • Decision by our customer to proceed to construction in Q4 2024 triggered a miles
Slide 7: Pome, San Diego
UNDER CONSTRUCTION Pome, San Diego • 100 MW/400 MWh stand-alone battery energy storage (BESS) 100 project. • Construction is ongoing. Delivery of Battery Energy Storage MW System began in September. • Project financing of 175 MUSD via US bank agreed in August. • The sales process has advanced during
Slide 8: Construction and sales process for 88 MW onshore wind projects in Sweden
Construction and sales process for 88 MW onshore wind projects in Sweden • Construction ongoing. • Turbine supply agreement with Vestas. • Commercial operation start in Q4 2025. • Price area SE3. • The turbines in Fågelås are the tallest constructed 88 by Eolus so far: MW Hub height 167 metres, tota
Slide 9: Agenda
Agenda • Highlights and portfolio update – CEO Per Witalisson • Financial update – CFO Catharina Persson • Outlook – CEO Per Witalisson • Q&A 9
Slide 10: Q3 2024 key figures
Q3 2024 12 months Q3 2024 Q3 2023 Oct-Sep Net sales, MSEK 24 127 278 Net profit, MSEK -79 134 -90 Earnings per share, SEK -3.16 3.79 -3.59 35% -2,135 MW 26,251 Total development portfolio, MW Equity/assets ratio Change in development portfolio, Q3
Slide 11: Consolidated Income Statement
FINANCIAL UPDATE Consolidated Income Statement Rolling 12 MSEK Q3 2024 Q3 2023 9 months 2024 9 months 2023 Oct-Sep 12 months 2023 Net sales 24 127 123 2,146 278 2,301 Other operating income 6 59 27 75 45 93 30 186 150 2,221 324 2,394 Operating expences Cost for goods and project development -34 44 -
Slide 12: Consolidated Balance Sheet
FINANCIAL UPDATE Consolidated Balance Sheet MSEK 30 Sep 2024 30 Sep 2023 31 Dec 2023 MSEK 30 Sep 2024 30 Sep 2023 31 Dec 2023 ASSETS EQUITY AND LIABILITIES Non-current assets Equity Intangible assets 0 1 0 Equity related to the share holders of parent company 1,305 1,480 1,510 Property, plant and eq
Slide 13: Key Figures
FINANCIAL UPDATE Key Figures Unit Q3 2024 Q3 2023 9 months 9 months Rolling 12 12 months 2024 2023 Oct-Sep 2023 Project development, Net sales MSEK 16 120 99 2,126 248 2,274 Project development, EBIT MSEK -97 157 -154 662 -57 759 Asset management, Net sales MSEK 8 7 25 22 32 29 Asset management, EBI
Slide 14: Projects under Construction
FINANCIAL UPDATE Projects under Construction Degree of completion Degree of Project Location Price area Technology Capacity(MW) Production, (GWh) COD completion Stor-Skälsjön Sundsvall and Timrå, Sweden SE2 260 800 2024 94% Boarp Vaggeryd SE3 25 70 2025 * Dållebo Ulricehamn SE3 18 59 2025 * Fågelås
Slide 15: Agenda
Agenda • Highlights and portfolio update – CEO Per Witalisson • Financial update – CFO Catharina Persson • Outlook – CEO Per Witalisson • Q&A 15
Slide 16: Outlook
Outlook • Stay power in a soft but improving Nordic market, while capitalizing on our unique exposure to the US market. • Focus on closing sales processes for Pome, Fågelås, Dållebo and Boarp. • Sales of Ölme (73 MW) and Pienava (158 MW) onshore wind projects initiated, expected to close in 2025. •
Slide 17: New Investor Relations Manager
New Investor Relations Manager Harald Cavalli-Björkman harald.cavalli-bjorkman@eolus.com +46 (0) 705 903 204 17
Slide 18: Agenda
Agenda • Highlights and portfolio update – CEO Per Witalisson • Financial update – CFO Catharina Persson • Outlook – CEO Per Witalisson • Q&A 18
Slide 19: Shaping the future of renewable energy
Shaping the future of renewable energy Per Witalisson, CEO Catharina Persson, CFO