Business
Sweden's Gigasun Q1 revenue falls on lower tariffs
Sweden's Gigasun Q1 revenue falls on lower tariffs
About this update from Gigasun Ab
OverviewSweden solar PV operator's Q1 revenue fell yr/yr amid lower tariffs and weaker solar radiationCompany posted Q1 net loss of SEK -27.5 mln, with EPS at SEK -0.48Installed capacity rose to 403.7 MW, but new contracts signed declined from prior yearOutlookCompany does not expect further electricity tariff changes in Jiangsu and Anhui in the near futureResult DriversLOWER ELECTRICITY TARIFFS - Company said adjusted tariffs in Jiangsu and Anhui reduced revenue by SEK 3.9 mln compared to prior yearWEAKER SOLAR RADIATION - Company said weaker solar radiation contributed to lower revenuesHIGHER NETWORK SALES - Company reported a higher proportion of sales directly to the grid, which contributed to lower revenuesCompany press release:Key DetailsMetricBeat/MissActualConsensus EstimateQ1 RevenueSEK 36.60 mlnQ1 Adjusted EPS-SEK 0.48Q1 Net Income-SEK 27.50 mlnQ1 Operating ExpensesSEK 45.80 mlnQ1 Operating Profit-SEK 9.20 mlnAnalyst CoverageThe stock recently traded at 9 times the next 12-month earnings vs. a P/E of 6 three months agoFor questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .