Interim report 1 January – 30 June 2024

­­­­A strong quarter and healthy growth in the project portfolio

 

CEO Comment:

The company delivered a strong quarter with EBITDA of MSEK 53 and net profit of MSEK 30, especially considering that the second quarter is normally a period of lower production revenue. Favourable price hedging and the Lebo project, which increases our own production by more than 25%, contribute to the result. We also received the earnout for the Ranasjö- and Salsjöhöjden project. We are continuing to present very healthy growth in our project portfolio, which increased by 745 MW. Furthermore, our focus on accelerating projects has resulted in projects in late developmental phase increasing by 175 MW. In total, this means that we are in line with delivering on our financial targets.

Second quarter (1 April–30 June 2024)

  • Net sales for the quarter amounted to MSEK 101 (110).
  • Operating profit before depreciation and amortisation (EBITDA) was MSEK 53 (69).
  • Operating profit (EBIT) was MSEK 33 (53).
  • Profit after tax totalled MSEK 30 (36) and earnings per share amounted to SEK 0.76 (0.85).
  • Operating cash flow was MSEK 24 (60) and cash flow after investments amounted to MSEK -34 (-167).
  • Production generated 69 GWh (54) of green electricity with an average income of SEK 549 per MWh (947).
  • The project portfolio increased by 745 MW during the quarter.
Selected key figures Q2 2024 Q2 2023 Q2 2022 Q2 2021 Q2 2020
Net sales, MSEK 101 110 53 36 30
EBITDA, MSEK 53 69 25 12 6
Earnings per share, SEK 0.76 0.85 -0.13 -0.16 -0.80
Adjusted equity per share, SEK 59 63 29 24 23
Equity/assets ratio, % 57 59 35 51 45
Project portfolio, MW ~7,900 ~5,700 ~2,350 ~1,300 ~1,300

First half of the year (1 January–30 June 2024)

  • Net sales for the period amounted to MSEK 213 (217).
  • Operating profit before depreciation and amortisation (EBITDA) totalled MSEK 123 (145).
  • Operating profit (EBIT) was MSEK 87 (114).
  • Profit after tax totalled MSEK 77 (88) and earnings per share amounted to SEK 1.90 (2.01).
  • Operating cash flow was MSEK 142 (90) and cash flow after investments amounted to MSEK 20 (-208).
  • Production generated 159 GWh (141) of green electricity with an average income of SEK 661 per MWh (940).
  • The project portfolio increased by almost 1,000 MW during the first half of the year.

Significant events during the first half of the year

  • In May, Arise announced that the Board had resolved to utilise the authorisation granted by the 2024 Annual General Meeting to buy back the company’s own shares corresponding to MSEK 50 ahead of the 2025 Annual General Meeting. Under this share buyback programme and the previous buyback programme, 2,201,045 own shares were repurchased for MSEK 97 during the first half of the year.
  • In May, Eva Vitell announced that she was leaving the Board of Arise at her own request, since she had accepted a position with Svenska Kraftnät.
  • In May, the Lebo wind farm was completed. The wind farm is fully owned by Arise, has a capacity of 33 MW and is located in price area 3. Following the completion, Lebo is part of the Production segment.
  • Arise announced in June that the earnout payment for the Ranasjö- and Salsjöhöjden project had been established at MEUR 6.6, which was received in the same month. Of the earnout amount, MEUR 4.2 had already been recognised whereby the earnings effect for the quarter amounted to MEUR 2.4.
  • In June, Arise’s subsidiary Pohjan Voima entered into a cooperation agreement with Finsilva, one of Finland’s largest landowners. The cooperation opens up opportunities for the development of new wind and solar projects, which may also include battery storage. Five project areas have been identified with estimated potential of approximately 500 MW.

 

Halmstad, 17 July 2024

Arise AB (publ)


For further information, please contact:

Per-Erik Eriksson, CEO Arise AB, +46 702 409 902

Markus Larsson, CFO Arise AB, + 46 735 321 776


This information is such information as Arise AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CEST on 17 July, 2024.

Interim report CA Fastigheter AB (publ) January-June 2024

  • Rental income increased by 8% and amounted to MSEK 451 (417).
  • Net operating income increased by 14% to MSEK 305 (269), giving a surplus ratio of 67.7% (64.4%).
  • Profit from property management increased by 6% and amounted to MSEK 160 (151), mainly since the increased operating surplus exceeds the increased financial costs.
  • Profit from project activities amounted to MSEK 0 (22).
  • The market value of the properties amounted to MSEK 14,572 (15,407 CA Fastigheter does not market value the properties continuously during the year, increased value from year end 2023 refers to investments and exchange rate fluctuations.
  • Profit after tax amounted to MSEK 136 (130). The increase is mainly due to changes in the value of derivatives and shares.

 

Significant events during the period April – June 2024:

-During the period, Malin Claesson Stenström, who is part of the fourth generation of the owner family, has been appointed as the new CEO of CA Fastigheter.

-CA Fastigheter already has a credit rating according to BBB-, Stable. At the annual credit assessment, which was published in April, CA Fastigheter maintains it’s credit rating.

-During the period, the fourth phase of the major refurbishment of the property Växjö 6:69 was completed. This phase comprised 102 apartments. With the completion of the fourth phase, 409 of a total of 613 apartments have been renovated. These projects are a significant investment in our long-term work to develop the investment properties and the tenant offering.

 

For further information, please contact:

 

Malin Claesson Stenström, VD

+4673-923 97 59, malin.claesson@cafastigheter.se

Caroline Menninge, CFO

+4670-534 25 86, caroline.menninge@cafastigheter.se

Invitation to webcast and teleconference in connection with Arise’s interim report 1 January-30 June 2024

Arise’s interim report 1 January – 30 June 2024 will be released on Wednesday 17 July, 2024 08.00 CEST.

At 11.00 on the same day a webcast and teleconference will be held, hosted by Per-Erik Eriksson, CEO and Markus Larsson, CFO, who will present the report to the stock market and media. After the presentation those attending will be invited to ask questions.

If you wish to participate via webcast please use the link below. Via the webcast you are able to ask written questions.

Arise Q2 Report 2024 (financialhearings.com)

If you wish to participate via teleconference please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.

Call Access (financialhearings.com)

Halmstad 5 July, 2024

ARISE AB (publ)                                                                                                

For further information, please contact:

Per-Erik Eriksson, CEO Arise AB, +46 702 409 902

Markus Larsson, CFO Arise AB, +46 735 321 776

This information was submitted for publication, through the agency of the contact persons set out above, at 14.00 CEST on 5 July, 2024.