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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Midsummer AB (publ)    MIDS   SE0011281757

MIDSUMMER AB (PUBL)

(MIDS)
  Report
End-of-day quote. End-of-day quote NASDAQ OMX STOCKHOLM - 01/21
12.3 SEK   -1.60%
2020MIDSUMMER : appoints nominating committee
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2020MIDSUMMER : New machine order - Midsummer sells UNO system to UNSW Sydney
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2020MIDSUMMER : New sales focus in Midsummer's management team
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Midsummer : Swedish solar tech company Midsummer opens a branch in Italy

09/09/2020 | 02:01am EST

Swedish solar technology leader Midsummer establishes a branch in Rome, Italy. The subsidiary is named Midsummer Italia and it will carry on activities spanning from production to sale of solar panels.

"There is simply no other company in the world able to produce flexible solar panels as technologically advanced end esthetically astonishing as Midsummer WAVE, BOLD and SLIM" says Jarno Montella, newly appointed CEO of Midsummer Italia.  "With their 2mm thickness, capacity to bend and extreme simplicity of installation, our products are at the top end of the spectrum of globally available solar panels" he added. "The products are ideal for the newly launched 110 % tax rebate that allows homeowners in Italy to install PV systems for free. "Our products can stick on thermal coating material and therefore provide an integrated solution to isolate a rooftop and produce electricity"
Midsummer is going to invest substantial resources in Italy. The company plans to expand its production capacity by setting up a factory in the south of the country. The factory will have a peak capacity of 50MW per year. The production output will be sold to private customers in the premium segment through selected partners in Italy. The company has also identified opportunities to refurbish older rooftop installations with high feed-in tariffs and old degraded solar panels. By changing some of those panels to Midsummer panels, a higher electricity production will be generated and thus increasing the value of the installation.
 
"I am thrilled to have the opportunity to lead the expansion of Midsummer in Italy. We will be working on many different fronts: production, sales and acquisition of PV assets. My ambition is to contribute to spread the "Midsummer spirit" in Italy: a blend of friendliness, passion for solar innovative technology and professionality" concludes Jarno.

For further information, please contact:

Jarno Montella
CEO, Midsummer Italia
E-mail: jarno.montella@midsummer.se

Helena Engelbrecht
Head of Communications, Midsummer
E-mail: helena.engelbrecht@midsummer.se
Phone: +46 76 789 77 78

About Midsummer
Midsummer (https://midsummer.se/en/) is a leading developer and supplier of advanced solar energy technology solutions for the production and installation of thin film solar panels. Its business offering includes equipment for cost-effective manufacturing of thin film solar cells as well as building-integrated photovoltaic (BIPV) solutions. Midsummer's production process for thin film solar cells has a minimal carbon footprint compared to other production processes for solar modules. Midsummer's DUO system (https://midsummer.se/en/business/machines/duo/) has taken the position as the most widespread manufacturing tool for flexible CIGS solar cells in the world.

Midsummer develops and markets solar panels directly to end customers from its own production and via contract manufacturers. The Midsummer Solar Roofs (https://midsummersolarroofs.se) product range Midsummer SLIM (https://midsummersolarroofs.se/midsummer-slim/), Midsummer WAVE (https://midsummersolarroofs.se/midsummer-wave/) and Midsummer BOLD (https://midsummersolarroofs.se/midsummer-bold/) offers customers light, thin and flexible solar panels that result in attractive solar roofs.
Midsummer's technology is based on a rapid process for the production of durable, flexible CIGS solar cells using sputtering of all layers of the solar cell in a sealed vacuum chain. The Company's share (MIDS) is traded on Nasdaq First North Premier Growth Market with G & W Fondkommission as Certified Adviser, phone: +46 (0)8-503 000 50, email: ca@gwkapital.se. For more information, please visit: midsummer.se

https://news.cision.com/midsummer/r/swedish-solar-tech-company-midsummer-opens-a-branch-in-italy,c3191368

https://mb.cision.com/Main/19047/3191368/1304476.pdf

https://news.cision.com/midsummer/i/midsummer-slim,c2822964

https://news.cision.com/midsummer/i/midsummer-wave-,c2822965

https://news.cision.com/midsummer/i/midsummer-wave-jarfalla,c2822967

https://news.cision.com/midsummer/i/midsummer-bold,c2822963

https://news.cision.com/midsummer/i/jarno-montella,c2822966

(c) 2020 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2019 198 M 24,0 M 24,0 M
Net income 2019 -40,3 M -4,87 M -4,87 M
Net Debt 2019 111 M 13,4 M 13,4 M
P/E ratio 2019 -20,5x
Yield 2019 -
Capitalization 416 M 50,1 M 50,3 M
EV / Sales 2018 3,12x
EV / Sales 2019 4,73x
Nbr of Employees 100
Free-Float 100%
Chart MIDSUMMER AB (PUBL)
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Managers and Directors
NameTitle
Sven Lindström Chief Executive Officer & Director
Jan Hugo Lombach Chairman
Alex Witt Operations Manager
Stig Eric Robin Jaremalm Chief Financial Officer
Klara Takei Senior Manager-Research & Development, Projects
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