Eolus Vind (EOLU) Q3 2025 earnings summary

Executive summary

• Net sales for Q3 2025 reached SEK 200 million, a significant increase from SEK 24 million in Q3 2024, mainly driven by revenue recognition from the US battery project Pome and project divestments.

• Third consecutive quarter with project transactions, including the divestment of Fageråsen (238 MW) and progress on Pome (100 MW) and Pienava (147 MW).

• Strategic cost savings of SEK 60 million annually targeted from 2026, including operational and workforce reductions.

• Net profit for Q3 2025 was SEK -96 million, compared to SEK -79 million in Q3 2024; earnings per share were SEK -3.87.

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

Financial highlights

• Q3 2025 net sales: SEK 200 million (Q3 2024: SEK 24 million).

• Q3 2025 EBIT: SEK -87 million (Q3 2024: SEK -94 million).

• Q3 2025 net profit: SEK -96 million (Q3 2024: SEK -79 million).

• Rolling 12-month net sales totaled SEK 3,267 million, with operating profit at SEK 440 million and EPS at SEK 10.92.

• Equity/assets ratio improved to 51% from 35% year-over-year.

Outlook and guidance

• Business plan for 2025-2027 targets at least SEK 1,400 million in operating profit and an average ROE above 15%.

• Focus on completing Pome and collecting remaining payments.

• Accelerate transactions for Fågelås, Dållebo, and Boarp based on new PPA.

• Advance Roccasecca transaction and close its financing package.

• Finalize organizational right-sizing and accelerate hybrid/BESS strategy.