INTERIM REPORT 1 JANUARY – 31 MARCH 2019
First quarter in brief
- Net sales for the quarter amounted to MSEK 81 (55).
- Operating profit/loss before depreciation and amortisation excluding associates (adjusted EBITDA) amounted to MSEK 40 (30), and including associates totalled MSEK -232 (30).
- Operating profit/loss excluding associates (adjusted EBIT) amounted to MSEK 21 (12), and including associates EBIT was MSEK -251 (12).
- Profit/loss before tax excluding associates (adjusted EBT) totalled MSEK -3 (-16), and including associates (EBT) was MSEK -294 (-16).
- Profit/loss after tax excluding associates (adjusted loss after tax) totalled MSEK 0 (-13) and including associates was MSEK -288 (-13), corresponding to SEK -8.61 (-0.39) per share.
- Operating cash flow was MSEK 39 (24) and total cash flow was MSEK 131 (-83) incl. cash proceeds from the sale of associates of MSEK 193 (0) and loan repayments of MSEK 80 (900).
- Production from Own wind power operations was 103 (76) GWh. Production from Co-owned wind power operations ceased in conjunction with the sale of the associate Sirocco.
- Average income from Own wind power operations was SEK 475 per MWh (522), of which SEK 363 per MWh (356) from electricity and SEK 112 (166) per MWh from electricity certificates.
- The sale of the company’s participation in its associate Sirocco was completed and entailed a non-cash effect of MSEK -272 on the company’s EBIT before and after depreciation and amortisation. Earnings from associates is recognised after tax in the company’s EBIT. The corresponding amount before tax was MSEK -250. Moreover, one additional item was included from the company’s comprehensive income when the item’s hedge accounting ceased in connection with the sale, which impacted EBT by MSEK -20 and MSEK -15 after tax. Cash proceeds of MSEK 193 were received on the sale and an additional MSEK 5 is expected to be received in 2019. The sale means that the Co-owned wind power operations segment is no longer reported.
Halmstad 8 May, 2019
ARISE AB (publ)
For further information, please contact
Daniel Johansson, VD Arise AB, +46 702 244 133
Linus Hägg, CFO Arise AB, +46 702 448 916
This information is information that Arise AB] is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication through the agency of the contact persons set out above, at 08.00 CET on 8 May 2019.
Arise is one of Sweden´s leading wind power companies, with the business concept to develop, build and manage onshore wind farms for its own account and on behalf of investors. The company is listed on NASDAQ Stockholm.
Arise AB (publ), P.O. Box 808, SE-301 18 Halmstad, Sweden, telephone +46 (0)10 450 71 00, corporate id .no. 556274-6726