Q2 result overview
Eolus delivered a very strong Q2 report, with sales of SEK 1,742m (ABGSCe SEK 178m) and EBIT of SEK 517m (SEK 49m) for a margin of 29.7%. The result was boosted by two transactions towards the end the quarter. Firstly, the sale of 125 MW of onshore wind projects in Sweden added significantly to earnings. Eolus had already started construction of these projects and is already at 55-78% completion rates. We had expected this sale to take place in H2. Secondly, the company achieved a significant milestone in the solar/storage project in Arizona, which now stands at 40% completion (up from 8%). We had expected only smaller milestones for this year.
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