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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 roofing companies in Växjö and in Kalmar

09/28/2020 | 08:15am EST

On 28 September 2020, Soltech Energy Sweden AB (publ) signed an agreement to acquire 80 percent of the shares in the roofing company Takrekond i Småland AB and 100 percent of the roofing company Takrekond i Kalmar AB with access on 1 October 2020. Takrekond is headquartered in Växjö and Kalmar and the companies have a total of 15 employees and are expected to have sales of SEK 25 million in 2020 with a positive operating profit of approximately 10 percent. Together with Soltech, the plan is to increase sales to a total of SEK 55 million by 2023 with good profitability.

The acquisition of Takrekond 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 Takrekond in Småland and in Kalmar, we are adding two companies in roofing alongside NP Gruppen and Takorama. Soltech has an option to acquire the remaining 20 percent of the shares in Takrekond Småland 2024.

Takrekond has long been a partner of Soltech's subsidiary Takorama and the plan is now to gradually expand the business, while maintaining a good profit margin, from current levels of approximately SEK 25 million to approximately SEK 55 million in 2023. The increase in business volume is expected to come from organic growth in combination with adding solar energy to the product and service offering. 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 Takrekond is financed entirely from its own cash and with newly issued shares in Soltech Energy.

Stefan Ölander, CEO of Soltech Energy in a comment:
- The Takrekond companies have a tradition of high quality and profitability. Now we will together take the companies into the future by adding solar energy to their range. In this way, we are really changing society in a sustainable direction.

Nils Jansson, CEO of Takrekondbolagen in a comment:
- We at Takrekond notice an ever-increasing demand from our customers to be able to deliver both roof and solar energy systems and have therefore, after more than 30 years of clean roofing operations, chosen to be part of the Soltech Energy Group and thereby broaden our offering with solar cells. For me and all the employees, this step feels really exciting and inspiring.

© Modular Finance, source Nordic Press Releases

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Financials
Sales 2019 264 M 30,6 M 30,6 M
Net income 2019 -39,9 M -4,62 M -4,62 M
Net Debt 2019 756 M 87,6 M 87,6 M
P/E ratio 2019 -22,5x
Yield 2019 -
Capitalization 1 525 M 176 M 177 M
EV / Sales 2018 11,8x
EV / Sales 2019 6,77x
Nbr of Employees -
Free-Float 100,0%
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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