Q3, small quarter for '24e
Eolus had Q3 sales of SEK 24m, -8% y-o-y and EBIT of SEK -94m (vs. SEK 159m in Q3'23). EBIT was hurt by write-downs of SEK 40m related to the Skidbladner (1,000 MW) and Arkona (1,200 MW) off-shore projects. The lower sales and EBIT were partly due to Eolus only recognising revenues from one project, Stor-Skälsjön (9% revenue recognition), and no projects being sold during the quarter. However, it is important to note that Q3 is a small quarter for '24e, and we expect a major project milestone to be booked in Q4. Read press release here.
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