Eolus Vind (EOLU) investor relations material

Executive summary

• Net sales for Q2 2025 reached SEK 364 million, a significant increase from SEK 54 million in Q2 2024, but operating profit was negative at SEK -74 million due to project delays, margin reductions, and provisions, despite positive project sales and new transactions in Latvia and Sweden.

• The company rebranded from Eolus Wind to Eolus, reflecting a broader focus on renewables and energy storage.

• The project portfolio expanded by 675 MW in Q2, reaching 26.2 GW, with significant progress in battery energy storage and new US market entries.

• Asset management portfolio grew to 1,186 MW under management, up from 967 MW year-over-year.

• For the first half of 2025, net sales totaled SEK 2,338 million and net profit was SEK 52 million, a turnaround from a loss of SEK -82 million in the same period last year.

Financial highlights

• Q2 2025 net sales were SEK 364 million, up from SEK 54 million in Q2 2024, but operating profit was SEK -74 million, mainly due to project delays and provisions.

• Earnings per share for Q2 2025 were SEK -1.51, an improvement from SEK -1.99 year-over-year.

• Rolling 12-month net sales reached SEK 3,091 million, with EBIT at SEK 433 million.

• Equity/assets ratio improved to 59% in Q2 2025 from 44% in Q2 2024.

• Return on equity for the rolling twelve months was 19%, exceeding the >15% target.

Outlook and guidance

• Focus remains on advancing sales and PPAs for key projects, closing negotiations, and locking in long-term revenues.

• Ongoing efforts to optimize financial position and reduce net debt, leveraging new credit facilities and refinancing.

• Pome project completion and handover expected in H2 2025 after delay.

• The business plan for 2025–2027 targets at least SEK 1,400 million in operating profit and an average ROE above 15% per year.

• Dividend policy aims for 20–50% of profit after tax, subject to investment needs and financial position.