Stable earnings and a focus on accelerating projects to the divestment phase

CEO comment:

We are now wrapping up an intense first quarter with good progress in all markets in terms of project development and stable, favourable production revenue in line with our expectations with a positive contribution from price hedging. The company is now in its next phase, where we will deliver projects for sale at a higher frequency. We are focusing on accelerating projects to the divestment phase and thereby delivering on our targets of a total of 400 MW in 2024–2025 and 500 MW annually thereafter, with strong earnings and increased shareholder value as a natural consequence. For the current year, the ambition remains to conduct at least one project sale.

First quarter (1 January–31 March 2024)

• Net sales for the quarter amounted to MSEK 112 (107).
• Operating profit before depreciation and amortisation (EBITDA) was MSEK 71 (76).
• Operating profit (EBIT) was MSEK 54 (61).
• Profit after tax totalled MSEK 46 (52) and earnings per share amounted to SEK 1.14 (1.16).
• Operating cash flow was MSEK 117 (30) and cash flow after investments amounted to MSEK 54 (-41).
• Production generated 90 GWh (87) of green electricity with an average income of SEK 746 per MWh (936).
• The Lebo project was part of the Development segment during the quarter and generated 8 GWh during its test operations.
• The project portfolio increased by more than 200 MW during the quarter.

Significant events during the quarter

• Under the share repurchase programme initiated by the Board of Directors, 1,119,036 own shares were repurchased for MSEK 47 during the quarter.
• Karmen Bergholcs took up her position as General Counsel on 15 January 2024 and thereby also joined Group Management.

Significant events after the end of the reporting period

• The Lebo wind farm was completed after the end of the quarter. The wind farm, which is fully owned by Arise, has a capacity of 33 MW and is located in price area 3. After completion, Lebo will be part of the Production segment.
• The Ranasjö- and Salsjöhöjden wind farm was also completed after the end of the quarter. The wind farm was divested by Arise in 2021 and final settlement of the earnout is expected to take place in the second quarter and will be recorded in the Development segment.

Halmstad, 7 May 2024
Arise AB (publ) 

For further information, please contact:
Per-Erik Eriksson, CEO Arise AB, +46 702 409 902
Markus Larsson, CFO Arise AB, + 46 735 321 776

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About Aris
Arise is a leading independent company that realises new green energy. The company develops, builds, sells and manages renewable electricity production. The company is listed on NASDAQ Stockholm.

Arise AB (publ), Box 808, 301 18 Halmstad, tel. +46 10 450 71 00, org.nr. 556274-6726, E-mail: [email protected], www.arise.se