CEO comment:

The first quarter of 2025 was characterised by a market that remained difficult to navigate and by customary seasonally lower activity with a lower proportion of projects. We continue to see that the long-term need for solar energy solutions and energy storage remains, while our breadth creates competitive total offerings and stability in a challenging market.

The lower activity in the quarter affected the Group's net sales, profit and cash flow in the period. Work on cost adjustments and profitability enhancement measures continues and overall we have a positive effect of these measures, which led to an improvement in underlying profitability in the quarter.

In the quarter, we saw an increased inflow of inquiries in roofing, electrical engineering and façades, mainly from larger property companies. According to external forecasts, the construction sector has passed its weakest period, and together with the interest rate cuts in the latter part of 2024, this will contribute to create better conditions, especially in construction and contracting, when the construction economy turns.

We maintain our focus on what we can actually influence, and the work we are doing now contributes to build a stronger Group to take advantage of new business opportunities when the economy turns. During the quarter, we continued to make organizational adjustments according to plan, while maintaining a focus on improved profitability and cost savings.

Soltech's diversified operations create a strong platform for seizing new business opportunities. We are a long-term full-service supplier in all our business areas and an enabler in the energy transition.

Patrik Hahne, CEO

Read the CEO's comment in its entirety in the quarterly report.

Quarter 1: January 1 – March 31, 2025

• Net sales amounted to SEK 446.2 (513.1) million
• The Group's organic growth amounted to -13% (-26)
• EBITDA amounted to SEK -10.4 (-0.5) million. EBITDA margin amounted to -2.3% (-0.1)
• EBITA amounted to SEK -26.3 (-15.1) million. EBITA margin amounted to -5.9% (-2.9)
• EBITA was impacted by revaluation effects of SEK 5.3 (36.7) million
• Excluding revaluations, EBITA amounted to SEK -31.6 (-51.8) million
• Profit after tax for the period amounted to SEK -47.8 (-32.2) million
• Cash flow from operating activities amounted to SEK -75.6 (40.0) million. Cash flow for the period amounted to SEK -111.7 (45.4) million
• Earnings per share before and after dilution amounted to SEK -0.36 (-0.24)

Significant events during the quarter

• Collaboration with the real estate company Atrium Ljungberg regarding façade contracting, solar energy and battery services in the development of a property in the Slakthusområdet area in southern Stockholm. The total order value amounts to approximately SEK 19 million
• In Spain, Soltech commissions the Balearic Islands' largest floating solar cell plant. The solar panels are installed on top of a rainwater collection pond used for irrigation. The installed capacity is approximately 1.5 MWp and the solar panels cover an area of just over 9,000 sqm
• Soltech, together with the energy company Kvänum Energi, has installed and commissioned three battery installations totalling 3 MWh in connection with wind turbines. The order value amounts to approximately SEK 19 million
  

Significant events after the quarter

• The Annual General Meeting will be held on May 22, 2025

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