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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 : subsidiary Advanced investigates the possibility of carrying out a preference share issue of up to SEK 150 million

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09/08/2020 | 04:31am EDT

The purpose of the intended raising of capital before the planned listing is to be able to take advantage of the good business opportunities that the company now has in China. The new capital is intended to be invested in roof-based solar energy plants.

Advanced Soltech's CEO, Max Metelius comments:
China continues to recover from the Corona pandemic and we see strong demand for our offering with many business opportunities as a result. We have several large projects with good profitability in our pipeline and in order not to lose momentum on our growth journey, we now want to investigate the possibility of raising capital in the form of a preference share issue, which also strengthens the company's equity.

For more information contact:
Max Metelius, CEO Advanced Soltech Sweden AB (publ) Tel: 072- 316 04 44. Email: max.metelius@advancedsoltech.com

About the Operations in China
The operations in China are conducted in Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd, ASRE, its wholly owned local subsidiaries and in Longrui Solar Energy (Suqian) Co. Ltd. The business model consists of financing, installing, owning and managing solar energy installations on customers' roofs in China. The customer does not pay for the plant, but instead undertakes to buy the electricity that the plant produces under a 20-year agreement. Current income comes from the sale of electricity to customers and from various forms of subsidies per kilowatt hour (kWh) of solar produced. The goal is to have an installed capacity of 1,000 megawatts (MW) by 2023, which is fully connected to the electricity grid by 2024.
ASRE and Longrui Solar Energy (Suqian) Co. Ltd. are wholly owned subsidiaries of Advanced Soltech Sweden AB (publ). ASAB is 51% owned by Soltech Energy Sweden AB (publ) and 49% by Soltech's Chinese partner, Advanced Solar Power Hangzhou Inc.

© Modular Finance, source Nordic Press Releases


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Financials
Sales 2019 264 M 29,9 M 29,9 M
Net income 2019 -39,9 M -4,52 M -4,52 M
Net Debt 2019 756 M 85,7 M 85,7 M
P/E ratio 2019 -22,5x
Yield 2019 -
Capitalization 1 201 M 136 M 136 M
EV / Sales 2018 11,8x
EV / Sales 2019 6,77x
Nbr of Employees -
Free-Float 100%
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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