Advanced Soltech Sweden AB’s revenue for the third quarter of 2021 was 47,1 (44,3) MSEK, an increase by 6% compared to the same quarter 2020. Operating profit for the quarter amounted to SEK 23,2 (28.2) million, a decrease of 18 percent compared with the previous year. Profit for the quarter after financial items and tax amounted to SEK to SEK 12,4 (-6,6) million and is affected by a non-cash flow-affecting currency effect of SEK 22,1 (-2,4) million
Third quarter 2021, in short
• During the quarter, the company installed a total of 0.0 (3.3) MW of roof-based solar energy plants and had 192.5 (143.3) MW installed and revenue-generating capacity at the end of the quarter.
• During the quarter, 49 (41) million kWh were produced, which reduced China’s CO2-related emissions by approximately 30,000 (25,000) tonnes.
• At the end of the quarter, the company had 51 (55) MW in subscribed orders, as well as projects in progress of 125 (134) MW.
• During the quarter, the company signed eight contracts amounting to a total installed capacity of 13.6 MW.
• The company receives SEK 71.0 million before deductions for issue costs in new issues of preference shares.
• Advanced Soltech is granted unsecured local bank loans of CNY 40 million (approx. SEK 54 million) at an interest rate of
Third quarter 2021, in numbers
• Revenues (sales of electricity and subsidies) amounted to SEK 47.1 (44.3) million, an increase of 6 percent compared
with the previous year.
• Net sales (sales of electricity) have increased with 22 percent from SEK 28.6 million to SEK 34.9 million, which is due to the company’s portfolio of solar energy plants growing.
• Other operating income (subsidies) has decreased from SEK 15.6 million to SEK 12.2 million.
• Operating expenses amounted to SEK 23.9 (16.1) million, an increase of 48 percent. The biggest items to the increase are that costs for maintenance of solar energy plants and roof rents have increased, and that the company has strengthened the management. The increase is in line with the company’s plan for growth.
• Operating profit for the quarter amounted to SEK 23.2 (28.2) million, a decrease of 18 percent compared with the previous
• Profit for the year after financial items and tax amounted to SEK 12.4 (-6.6) million and is affected by a non-cash flow-affecting currency effect of SEK 22.1 (-2.4) million. Adjusted for this item, profit for the year amounted to SEK -9.7 (-4.2) million.
• Total cash flow for the quarter amounted to SEK 21.1 (-49.6) million.
• The number of employees at the end of the period was 15 (15).
• According to the company’s estimate, the effects of theCorona pandemic affected the company by SEK -1.4 (-2.0) million during the quarter, due to declining revenues due to ageneral price reduction of electricity tariffs.