Eolus Vind AB (publ) (EOLU_B) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

A warm welcome to this presentation of EOLU's results for the first quarter 2025. Your presenters today will be myself, David Torsson, CEO, and Katarina Persson, CFO. Aeolus is a leading pure play developer shaping the future of renewable energy. We're positioned to take advantage of the structural growth in the renewable electricity demand resulting from worldwide electrification and decarbonization. We apply our core asset light business model to create value efficiently in every step of developing our diversified portfolio of onshore and offshore wind, solar and battery energy storage projects across six markets and a portfolio of 25 gigawatts. Major energy investors trust our 35 years of proven experience executing and optimizing market leading energy assets. I will begin with a walkthrough of the Q1 highlights and give an update on our portfolio, including some news on external reporting. Katarina will follow with a close look at the financials and I will then conclude the presentation with our view on the near-term outlook before we move to Q&A. We achieved 164 million SEK operating profit, mostly due to the sale of our 100 megawatt best project in home, California, where we have so far recognized 75% of the expected profits based on the construction completion method. So we have still 25% remaining from that project. Together with our partner Hydro Regn, we also formally handed over the Swedish onshore wind project Storskillsjön to our customers Meag and Hydro. It's a project of 42 wind turbines in the municipalities of Sundsvall and Timbo. and thereby transferring 260 megawatts from our development portfolio to our asset management portfolio. So for the first time EURUS now manage more than one gigawatt of assets on behalf of our customers. The first quarter ...