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    SOLT   SE0005392537

SOLTECH ENERGY SWEDEN AB (PUBL)

(SOLT)
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SolTech Energy Sweden : Advanced Soltech signs two orders in China that generates approx. SEK 47 million during the contract period

07/29/2021 | 01:31am EDT

Advanced Soltech's subsidiary in China, has signed two orders with AnHui ShanLong Textile Technology Co. Ltd. and AnHui HuaChenShiJia Textile Technology Co. Ltd. Both companies have the same owner. The orders concern the installation of two solar energy plants of 2.24 and 0.65 megawatts (MW), and together they are estimated to generate annual revenues of approximately SEK 2.35 million, or approximately SEK 47 million during the agreements' 20-year term. The investment in the facilities, which will be owned by Advanced Soltech's wholly owned subsidiaries in China, amounts to approximately SEK 17.3 million and construction is planned to start in the third quarter of 2021. The projects achieve good profitability completely without subsidies and are located in Anhui province.

Advanced Soltech's CEO Max Metelius comments:

-Our sales organization continues to reap success in Anhui Province. It is especially fun to be able to deliver several good projects to the same customer. Our projects are robust and durable and have previously been tested by typhoons and now also by recent floods and storms, which has not led to any significant damage.

© Modular Finance, source Nordic Press Releases

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Financials
Sales 2020 434 M 50,1 M 50,1 M
Net income 2020 -90,4 M -10,4 M -10,4 M
Net Debt 2020 735 M 84,8 M 84,8 M
P/E ratio 2020 -14,0x
Yield 2020 -
Capitalization 1 707 M 197 M 197 M
EV / Sales 2019 6,77x
EV / Sales 2020 6,21x
Nbr of Employees 180
Free-Float 100%
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Stefan Ílander Chief Executive Officer & Director
Niclas Lundin Chief Financial Officer
Anna Kinberg Batra Chairman
Mats Bertil Holmfeldt Independent Director
Hellen Wohlin Lidgard Independent Director
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