CEO comment:

Soltech once again delivers both strong growth and strong profitability.
EBITDA is SEK 31.8 million for the quarter, which is an increase of SEK 76 million compared to last year and our organic growth remains high with 31% in the quarter. The improvement in profitability also results in a significantly higher cash flow from operating activities, which amounted to SEK 40.9 million in the quarter. Our focus on high quality solutions with specialist competencies in solar, roof, façade and electrical technology is starting to pay off and this is the third profitable quarter in a row.

We have a strong quarter behind us and are in the middle of an exciting fall with great business opportunities in all our segments. Not least in solar parks and battery system solutions, where we have many interesting projects coming .

SECOND QUARTER HIGHLIGHTS

• Total revenue increased by 70% to SEK 743.3 (437) million. Growth is driven by both acquisitions and organic growth

• The Group's organic growth was 31% (35%), adjusted for the effects of exchange rate fluctuations. All segments show good organic growth with continued high demand for services where the solar transformation contributes to new business opportunities

• EBITDA amounted to SEK 31.8 (-44.2) million, the profitability improvement is attributable to a continuous focus on profitability, hard work, synergies and improved purchasing processes

• Operating profit (EBIT) amounted to MSEK 14.4 (-46.7).

• Cash flow from operating activities amounted to MSEK 40.9 (-42)

• Earnings per share before and after dilution amounted to SEK -0.05 (-0.42)

SIGNIFICANT EVENTS DURING THE QUARTER:

• This is the Group's first financial report prepared in accordance with IFRS. Comparative figures have also been recalculated

• Soltech has on April 3, through its subsidiary Takorama AB, acquired 100% of the electrical engineering company Din Elkontakt i Kungälv AB

• Soltech's Annual General Meeting was held on May 11

FIRST HALF OF THE YEAR IN BRIEF

• Total revenue increased by 96% to SEK 1,426.3 (724.4) million. Growth is driven by acquisitions and organic growth

• The Group's organic growth amounted to 39% (39%), not affected by exchange rate fluctuations. All segments show good organic growth with continued high demand for services where the solar transformation contributes to new business opportunities

• EBITDA amounted to SEK 39 (-74.4) million, the profitability improvement is attributable to a continuous focus on profitability, hard work, synergies and improved purchasing processes

• Operating profit (EBIT) amounted to MSEK 4.9 (-83.8).

• Cash flow from operating activities amounted to MSEK 0.4 (-113)

• Earnings per share before and after dilution amounted to SEK -0.35 (-0.85)