Slide 1: Q2 Report 2024
Q2 Report 2024 29 August 2024 Per Witalisson, CEO Catharina Persson, CFO 1
Slide 2: Eolus key facts
140+ employees 1990founded 7 countries 967 MW under Asset 28,386 MW total portfolio +250 projects Management
Slide 3: This is Eolus today
This is Eolus today Portfolio of 28.4 GW 21% 5,833 MW Portfolio by Technology 30/06/2024 (MW) Portfolio Growth Q3 2023-Q2 2024 (MW) 10% Onshore wind 3% 2,755 MW 750 MW 18% Offshore wind 5,262 MW 29% 23% 8,240 MW 6,391 MW Solar 46% 13,112 MW Storage 1% 176 MW 39% Total 28,386 MW 11,000 MW Q3 2023 Q4
Slide 4: Q2 2024
Q2 2024 Construction in focus during Q2 12 months Q2 2024 Q2 2023 Jul-Jun Net sales, MSEK 54 1,742 381 Net profit, MSEK -50 422 83 Earnings per share, SEK -1.99 16.97 3.35 44% 291 MW 28,386 Total development portfolio, MW Equity/assets ratio Growth development portfolio, Q2
Slide 5: 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 highest ever 88 constructed by Eolus: MW Hub height 167 metres, total
Slide 6: Pome, San Diego
UNDER CONSTRUCTION Pome, San Diego • 100 MW/400 MWh stand-alone battery energy storage (BESS) 100 project. MW • Construction is ongoing. Delivery of Battery Energy Storage System will start in September. • Project financing of 175 MUSD via US bank agreed in August. • The sales process has advanced o
Slide 7: Stor-Skälsjön
UNDER CONSTRUCTION Stor-Skälsjön • The project is not yet completed due to technical problems with the turbine supplier. • All turbines have started producing electricity • 37 out of 42 turbines have passed test run • Our assessment is that the delay will not have any significant impact on Eolus' ma
Slide 8: Permit application for Skidbladner offshore
Permit application for Skidbladner offshore • Permit application submitted to the government in June. • Price area SE3. • Electricity production 11.7 TWh per year, corresponds to half of today’s electricity consumption in Stockholm County or more than ten times Gotland’s electricity needs. • Up to 1
Slide 9: Mature Projects – Selection
Mature Projects – Selection 9
Slide 10: Pienava, Latvia
Pienava, Latvia • 158 MW onshore wind project. • The largest wind farm in Latvia when constructed. • All major permits obtained. • Grid connection secured. • Construction to start in early 2025. • Commercial operation planned for 2027. • Sales process to be initiated in the near future. 158 MW ABOUT
Slide 11: Roccasecca, USA
Roccasecca, USA • 126 MW / 504 MWh battery storage project. • Right of Way granted by BLM. • Grid interconnection secured at attractive terms & conditions. Long-lead components procured. • Final design and construction permits in process. • Sales process during 2025. 126 • COD expected 2026. MW ABOU
Slide 12: Murtomäki 2, Finland
Murtomäki 2, Finland • 108+49 MW hybrid wind + solar project. • The project was part of the acquisition of YIT Energy in December 2023. • Land use plan gained legal force in July 2024. • Next steps: • Completion of wind measurements • Application for construction permits for turbines • Grid connecti
Slide 13: Fageråsen, Sweden
Fageråsen, Sweden • 238 MW onshore wind project • Co-development with regional partner DalaVind. • Eolus owns 49% of the project, DalaVind 51%. • Construction to start in 2025. • Commercial operation planned for 2027. • Local partners intend to own part of the project. Sales transactions expected to
Slide 14: Ölme, Sweden
Ölme, Sweden • 73 MW onshore wind project. • Price area SE3 • All permits in place. • Sales transaction planned for H1 2025. • Construction to start in 2025. • Commercial operation start planned for 2027. ABOUT THE PROJECT: Location: Kristinehamn, Sweden Capacity: 73 MW Technology: Onshore wind 73 1
Slide 15: Consolidated Income Statement
FINANCIAL SUMMARY Consolidated Income Statement 6 months 6 months MSEK Q2 2024 Q2 2023 2024 2023 Rolling 12 Jul-Jun 12 months 2023 Net sales 54 1 742 98 2 019 381 2 301 Other operating income 17 -11 21 16 99 93 71 1 731 120 2 035 479 2 394 Operating expences Cost for goods and project development 3
Slide 16: Consolidated Balance Sheet
FINANCIAL SUMMARY Consolidated Balance Sheet MSEK 30 Jun 2024 30 Jun 2023 31 Dec 2023 MSEK 30 Jun 2024 30 Jun 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 1 420 1 391 1 510 Property, plant and e
Slide 17: Key Figures
FINANCIAL SUMMARY Key Figures Unit Q2 2024 Q2 2023 6 months 6 months Rolling 12 Jul- 12 months 2024 2023 Jun 2023 Project development, Net sales MSEK 47 1 736 83 2 006 352 2 274 Project development, EBIT MSEK -27 519 -58 505 197 759 Asset management, Net sales MSEK 8 7 16 15 31 29 Asset management,
Slide 18: Projects under Construction
FINANCIAL SUMMARY 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 85% Boarp Vaggeryd SE3 25 70 2025 * Dållebo Ulricehamn SE3 18 59 2025 * Fågelås
Slide 19: Summary
Summary • Focus on sales and construction of the US battery project Pome, and the Swedish wind projects Fågelås, Boarp and Dållebo. • No transactions during the quarter. • Revenue recognition for the Fågelås, Boarp and Dållebo projects will start as soon as the projects are sold. • Mature projects i
Slide 20: Shaping the future of renewable energy
Shaping the future of renewable energy Per Witalisson, CEO Catharina Persson, CFO