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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  SolTech Energy Sweden AB (publ)    SOLT   SE0005392537

SOLTECH ENERGY SWEDEN AB (PUBL)

(SOLT)
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SolTech Energy Sweden : acquires Din Takläggare in Arvika

09/29/2020 | 05:00am EST

On 29 September 2020, Soltech Energy Sweden AB (publ) signed an agreement to acquire 60 percent of the shares in the roofing company Din Takläggare i Värmland Dalsland AB with effect from 1 October 2020. Din Takläggare has its registered office in Arvika and the company has a total of 15 employees and is estimated to have sales of SEK 35 million in 2020 with a positive operating profit of approximately 9 percent. Together with Soltech, the plan is to increase sales to a total of SEK 50 million by 2023 with good profitability.

The acquisition of Din Takläggare is a continued investment in solar energy by acquiring expertise and business in the waterproofing roof industry. In order to deliver the highest quality, it is of utmost importance to have deep expertise in roofing work when building a successful solar energy group. With Din Takläggare, we still add companies in roofing alongside NP Gruppen, Takorama and Takrekondbolagen. Soltech has an option to acquire the remaining 40 percent of the shares in Din Takläggare 2024.

Din Takläggare is a very reputable company in Värmland / Dalsland and the plan is now to gradually expand the business, while maintaining a good profit margin, from current levels of approximately SEK 35 million to approximately SEK 50 million in 2023. The increase in business volume is expected to come from organic growth in combination with that Din Takläggare adds solar energy to its product and service range. In addition, Soltech expects that synergy effects within the Group in terms of joint purchasing, warehousing & logistics, marketing, HR, finance and administration will have a positive effect on earnings. The acquisition of Din Takläggare is financed entirely from its own cash and with newly issued shares in Soltech Energy.

Stefan Ölander, CEO of Soltech Energy in a comment:
- Just like Monday's acquisition of Takrekondbolagen, Din Takläggare has a tradition of high quality and profitability. Now we will together take the company into the future by adding solar energy to their range. We look forward to a successful development together.

Håkan Wennberg, CEO of Din Takläggare in a comment:
- Almost all customers are asking for solar energy today and the decision to sell to Soltech therefore feels completely right. Now we can use our deep expertise in waterproofing roofs to, together with our sister companies, take a good share of the solar energy market in our region.

© Modular Finance, source Nordic Press Releases

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Financials
Sales 2019 264 M 31,2 M 31,2 M
Net income 2019 -39,9 M -4,71 M -4,71 M
Net Debt 2019 756 M 89,3 M 89,3 M
P/E ratio 2019 -22,5x
Yield 2019 -
Capitalization 2 016 M 237 M 238 M
EV / Sales 2018 11,8x
EV / Sales 2019 6,77x
Nbr of Employees -
Free-Float 100,0%
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Last Close Price 29,24 
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Managers
NameTitle
Stefan Ölander Chief Executive Officer & Director
Anna Kinberg Batra Chairman
Mats Bertil Holmfeldt Chief Financial Officer
Frederic Telander Director
Göran Starkebo Director