Year-end report 1 January-31 December 2023

A STRONG QUARTER AND YEAR FOR ARISE!

CEO comment:
When summarising the fourth quarter, I can note that we continue to deliver good results. Income from the sale of the Fasikan project in combination with historically high income from our production means that all together, the quarter was very strong, with profit after tax of MSEK 77.

FOURTH QUARTER (1 OCTOBER–31 DECEMBER 2023)

  • Net sales for the quarter amounted to MSEK 191 (106).
  • Operating profit before depreciation and amortisation (EBITDA) was MSEK 82 (52).
  • Operating profit (EBIT) was MSEK 65 (37).
  • Profit after tax totalled MSEK 77 (36) and earnings per share amounted to SEK 1.81 (0.80).
  • Operating cash flow was MSEK 180 (0) and cash flow after investments amounted to MSEK 123
    (-73).
  • Production generated 88 GWh (79) of green electricity with an average income of SEK 727 per MWh (857).
  • The project portfolio increased by more than 1,000 MW during the quarter.

FULL-YEAR (1 JANUARY–31 DECEMBER 2023)

  • Net sales for the period amounted to MSEK 503 (1,164).
  • Operating profit before depreciation and amortisation (EBITDA) totalled MSEK 286 (851).
  • Operating profit (EBIT) totalled MSEK 223 (790).
  • Profit after tax totalled MSEK 200 (772) and earnings per share was SEK 4.65 (18.60).
  • Operating cash flow was MSEK 222 (926) and cash flow after investments amounted to MSEK -316 (621).
  • Production generated 288 GWh (292) of green electricity with an average income of SEK 829 per MWh (720).
  • The project portfolio increased by more than 4,200 MW during the year.
  • The Board proposes a dividend of SEK 1.20 (1.00) per share.
Selected key figures     12m 2023   12m 2022
–          Net sales, MSEK   503   1,164
–          EBITDA, MSEK   286   851
–          Earnings per share, SEK   4.65   18.60
–          Adjusted equity per share, SEK   58   61
–          Equity/assets ratio, %   58   55
–          Project portfolio, MW   ~6,900   ~2,600
     

 

SIGNIFICANT EVENTS DURING THE QUARTER

  • The wind farm project Fasikan was divested in October 2023 to SCA. The total purchase price amounted to approximately MSEK 125, which also includes a variable portion that is dependent on how construction of the project progresses in relation to budget.
  • Arise entered into a partnership agreement with SCA in October 2023. Arise and SCA will cooperate in the development of wind power in six identified land areas. The estimated total potential amounts to approximately 1,000 MW and the projects are included in Arise’s project portfolio as early-stage projects. Arise will have a 49% ownership in the projects once they reach ready-to-build status.
  • In November, Arise announced that the Board had resolved to utilise the authorisation granted by the Annual General Meeting in May 2023 to repurchase the Company’s own shares corresponding to an amount of up to SEK 100 million ahead of the Annual General Meeting in 2024. During the quarter, a total of 564,908 own shares were repurchased for SEK 23,6 million.
  • Karmen Bergholcs was appointed General Counsel. She took up her role on 15 January 2024 when she also joined Group Management.
  • In December 2023 Arise acquired 70% of the Norwegian company Fenix Repower AS, a developer of solar, onshore wind and storage projects in Norway and Ukraine.

 

 

Halmstad, 15 February 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

Invitation to webcast and teleconference in connection with Arise’s Year-end report for 2023

Arise’s Year-end report for 2023 will be released on Thursday 15 February, 2024 at around 08.00 CET.

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 Q4 Report 2023 (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 1 February, 2024

ARISE AB (publ)                                                                                                

For further information, please contact:

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

Power production fourth quarter 2023 amounted to 87.6 GWh

Slightly lower winds than normal combined with maintenance during the fourth quarter of the year resulted in a power production of 87.6 GWh, compared to the quarter’s budget of 107.3 GWh.

Halmstad, 12 January 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

Arise appoints new General Counsel

Karmen Bergholcs has been appointed General Counsel at Arise AB (publ). She will take up her position on the 15th of January 2024 when she also joins Group Management. Most recently, Karmen Bergholcs held the position as General Counsel at Pandox AB (publ).

Halmstad 8 December 2023

ARISE AB (publ)

For further information, please contact:

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

Interim report 1 January – 30 September 2023

THIRD QUARTER (1 JULY – 30 SEPTEMBER 2023)

  • Net sales for the quarter amounted to MSEK 96 (917).
  • Operating profit before depreciation and amortisation (EBITDA) totalled MSEK 59 (713).
  • Operating profit (EBIT) was MSEK 43 (697).
  • Profit after tax totalled MSEK 35 (705) and earnings per share was SEK 0.84 (15.86).
  • Operating cash flow was MSEK -47 (792) and cash flow after investments amounted to MSEK -231 (659).
  • Production generated 60 GWh (52) of green electricity with an average income of SEK 718 per MWh (496).
  • Arise held its Capital Markets Day in September 2023 and presented new financial targets with a focus on profitable growth.
  • The earnout payment for project Skaftåsen of MEUR 6.4 was settled in September 2023, of which MEUR 2.5 was recognised during the quarter.
  • The project portfolio increased by approximately 160 MW during the quarter.

FIRST NINE MONTHS (1 JANUARY – 30 SEPTEMBER 2023)

  • Net sales for the period amounted to MSEK 313 (1,058).
  • Operating profit before depreciation and amortisation (EBITDA) totalled MSEK 204 (799).
  • Operating profit (EBIT) totalled MSEK 157 (753).
  • Profit after tax totalled MSEK 123 (736) and earnings per share was SEK 2.86 (17.74).
  • Operating cash flow was MSEK 43 (926) and cash flow after investments amounted to MSEK -439 (694).
  • Production generated 201 GWh (213) of green electricity with an average income of SEK 874 per MWh (669).
  • In January 2023, Arise signed an agreement with Persson Invest, one of Sweden’s largest private landowners. The agreement pertains to development rights for potential wind power projects on a large portion of Persson Invest’s land, for which the company sees good potential to realise new wind power. According to the assessment from the company, the potential amounts to approximately 500 MW.
  • In March 2023, Arise signed an agreement to acquire approximately 51% of the Finnish company Pohjan Voima Oy. Pohjan Voima Oy has developed a well-diversified portfolio of onshore wind and solar projects across Finland, with a project portfolio that at the time of the signing was approximately 1,700 MW.
  • The project portfolio increased by approximately 3,200 MW during the period.

SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD

  • The wind farm project Fasikan was divested in October 2023 to SCA. The total purchase price amounted to approximately MSEK 125, which also includes a variable portion that is dependent on how construction of the project progresses in relation to budget.
  • Arise entered into a partnership agreement with SCA in October 2023 to cooperate in the development of wind power in six identified land areas. The estimated total potential amounts to approximately 1,000 MW and the projects will be included in Arise’s project portfolio as early-stage projects. Arise will have a 49% ownership in the projects once they reach ready-to-build status.
  • Given the sale of Fasikan and the partnership agreement with SCA, the project portfolio amounts thereafter to approximately 6,800 MW.
  • Arise announced in November 2023 that the Board of Directors has decided to utilise the authorisation granted by the Annual General Meeting in May 2023 to repurchase the company’s own shares up to a maximum amount of MSEK 100 until the date of the Annual General Meeting 2024.

 

Halmstad, 15 November 2023
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

The full report (PDF)