CEO's comments
In the fourth quarter of 2023, despite strenuous market conditions, Soltech reaches net sales of SEK 740.6 million and an EBITDA of SEK 58.1 million. Our cash flow is positive and our liquidity is strengthening. For the full year of 2023, we reach net sales of SEK 2,904 million, which is an increase of 50 percent, and EBITDA is improved to SEK 128.5 million from SEK -19.8 million, compared to 2022.

Our operational business is profitable
We are pleased to be able to maintain high sales and operational profitability for the fourth quarter of 2023, compared with a strong fourth quarter of 2022. Growth is not as aggressive as last year since we have focused on profitability for 18 months and no major acquisitions have been carried out since October 2022.

2024 will be a challenging year, but with the hope of future interest rate decrease and clear rules of the game in the solar market, the underlying need and demand for a green transition and hopefully a more stable global climate , I see upon the future with confidence.

Stefan Ölander
CEO

FOURTH QUARTER HIGHLIGHTS

  • Net sales increased by 1% to SEK 740.6m (732.4)
  • The Group's organic growth was -3% (81)
  • Adjusted EBITDA amounted to SEK 58.1 (52*) million. The adjusted EBITDA margin was 7.8% (7.1*%). EBITDA of SEK 58.1m (101.4)
  • Adjusted EBITA amounted to SEK 41.5 (46.1*) million. The adjusted EBITA margin was 5.6% (6.3*)
  • Earnings after tax for the quarter amounted to SEK -120.2 (-59.7) million. Earnings were affected by non-cash effects of write-downs and profit from participations in the associated company Gigasun of SEK 131.9 M (121.3)
  • Cash flow from operating activities amounted to SEK 102.4 (-4.9) million. Cash flow for the quarter was MSEK 50.8 (26.7).
  • Earnings per share before and after dilution amounted to SEK -0.91 (-0.46)

JANUARY – DECEMBER IN BRIEF

  • Net sales increased by 50% to SEK 2,904.4m (1,931.4)
  • The Group's organic growth was 26% (57%)
  • Adjusted EBITDA amounted to SEK 128.5 (-8.8*) million. Adjusted EBITDA margin was 4.4% (-0.5*). EBITDA amounted to MSEK 128.5 (-19.8)
  • Adjusted EBITA amounted to SEK 75.4 (-41.5*) million. The adjusted EBITA margin was 2.6% (-2.1*%). EBITA of SEK 75.4m (-52.5)
  • Earnings after tax for the period were SEK -165.9 (-224.2) million. Earnings were affected by non-cash effects of write-downs and profit from participations in the associated company Gigasun of SEK 156.2 M (114.1)
  • Cash flow from operating activities amounted to MSEK 2.3 (-191.3).
  • Cash flow for the period was MSEK -62.5 (-60.8)
  • Earnings per share before and after dilution amounted to SEK -1.25 (-1.73)

Soltech has agreed on a new supplier of quarterly report analyses and will continue to collaborate with Inderes Oyj, which is currently conducting an initiation analysis of Soltech with completion in March. Thus, no report analysis performed by an external analysis house follows Soltech's year-end report 2023.

Going forward, Inderes will conduct and publish quarterly analysis reports on Soltech.

The quarterly report and other financial reports are available at: https://soltechenergy.com/investerare/finansiella-rapporter-kalender/

For more information:

Stefan Ölander, CEO, Soltech Energy Sweden AB
Phone: 070-739 80 00
Mail: stefan.olander@soltechenergy.com

Niclas Lundin, CFO, Soltech Energy Sweden AB
Phone: 072- 071 03 09
Mail: niclas.lundin@soltechenergy.com

About Soltech Energy Sweden AB (publ)

Soltech is a comprehensive supplier that develops, sells, installs and optimizes solar energy solutions for the customers' needs. Soltech Energy Sweden AB (publ), is traded on the Nasdaq First North Growth Market under the short name SOLT. The Company’s Certified Adviser is Carnegie Investment Bank AB (publ). For more information see: https://soltechenergy.com/en/

This information is information that Soltech Energy Sweden is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-02-22 13:00 CET.

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