SENS publishes year-end report for 2023 – a year of economic success and strategic progress

Sustainable Energy Solutions Sweden Holding AB (”SENS” or the ”Company”) hereby publishes the year-end report for 2023.

2023-10-01 – 2023-12-31 (fourth quarter)

• Net sales amounted to 6,398 kSEK (2,599).
• Operating result before depreciation and amortization, EBITDA, was 1,873 kSEK (-2,317), an improved result by 4,190 kSEK compared to the previous period.
• Cash flow from operating activities was 7,179 kSEK (-6,274), improved by 13,453 kSEK compared to the previous period.

kSEK = thousand SEK

The full report is available in Swedish on SENS's website (https://www.sens.se) and as an attached file.

Comment from Henrik Boman:
The year 2023 has been a journey filled with productive progress and decisive strategic initiatives for SENS, giving us reason for optimism for the future. During the period, SENS, with great drive and commitment, continued to expand its business, strengthen our partnerships, and consolidate our position as a leading player in sustainable energy both nationally and internationally.

The lack of energy storage and frequency regulation resources means that Svenska Kraftnät currently offers high compensation levels for those who can deliver regulation services, e.g., FCR-D. At the same time, many developers are trying to obtain permits for new battery connections around Sweden, which in the long term is expected to lead to a larger supply of regulation services, a more saturated market, and thus lower compensations from Svenska Kraftnät. Therefore, there is great value in quickly getting new facilities operational. But also, like SENS, to have a wide range of products and services.

SENS has made significant progress during the year and has successfully shortened the lead times from application to concession dramatically in several locations.

For further information contact:
Henrik Boman, CEO; Phone: 070-224 63 61

This information is the type of information that Sustainable Energy Solutions Sweden Holding AB is obliged to publish pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above on February 20th, 2024 at 4.15 p.m. CET.

About SENS
Sustainable Energy Solutions Sweden Holding AB (publ)(SENS), provides sustainable energy solutions enabling the transition to a fossil-free and CO2 neutral energy mix both locally and internationally. SENS develops, designs, constructs and sells large-scale energy projects combining renewable energy sources with next generation energy storage technologies such as underground pumped hydro storage (UPHS) and/or battery energy storage systems (BESS). The company also conducts technical advisory consultancy services within energy storage and energy systems optimisation. The company is listed on NGM Nordic SME under the short name SENS.