Our diversification brings results – sale of the largest battery project in the Nordics to date

CEO Comment:

We are pleased to state that our investment in Finland through the acquisition of Pohjan Voima is beginning to bring results with the sale of the Pysäysperä battery project corresponding to a full 125 MW, which is the largest of its kind in the Nordics to date. The earnings effect will come in the second quarter in conjunction with closing. The second payment for our first BESS sale, Pajkölen, has now been paid according to plan and expectations. The company is continuing to deliver on our strategy, and we have also commenced project development in Germany, focusing on battery storage. We have now taken further steps towards achieving our financial target of carrying out project sales corresponding to a total of 400 MW for 2024 and 2025.

First quarter (1 January–31 March 2025)

• Net sales for the quarter amounted to MSEK 85 (112).
• Operating profit before depreciation and amortisation (EBITDA) was MSEK 24 (71).
• Exchange rate effects during the quarter impacted EBITDA by an amount corresponding to approximately MSEK -18.
• Operating profit (EBIT) was MSEK 2 (54).
• Recognised profit/loss after tax totalled MSEK -19 (46) and earnings per share was SEK -0.39 (1.14).
• Adjusted for non-recurring costs of MSEK -19 related to the company’s refinancing, profit after tax totalled MSEK 0 and earnings per share amounted to SEK 0.07.
• Operating cash flow was MSEK 26 (117) and cash flow after investments amounted to MSEK -10 (54).
• Production generated 91 GWh (90) with an average income of SEK 555 per MWh (746).
• The project portfolio increased by almost 150 MW during the quarter.

1)  Adjusted for non-recurring costs related to the company's refinancing.

Significant events during the quarter

• In January, Arise entered into a facilities agreement with DNB regarding a green term facility of approximately MEUR 52 and a green revolving facility of MEUR 40 and announced that the company will redeem all outstanding green bonds of MEUR 50. The new agreement leads to a significant reduction of the company’s financing costs. The bonds were redeemed on 31 January.
• In January, Arise announced that the Board of Directors had resolved to once again utilise the authorisation granted by the 2024 Annual General Meeting to repurchase the company’s own ordinary shares. The company intends to repurchase its own shares for an amount of up to MSEK 50 until the date of the 2025 Annual General Meeting. Under this share buyback programme, 273,704 own shares were repurchased for approximately MSEK 10 during the quarter.
• Arise subsidiary Pohjan Voima entered into an agreement with Alpiq AG for the sale of the Pysäysperä battery project with a capacity of 125 MW. The total cash consideration amounts to MEUR 6.7, which will be received upon closing. Closing is conditional upon certain approvals from authorities and is expected to take place in the second quarter of 2025.

Significant events after the end of the reporting period

• In April, Arise announced that the grid connection for the Pajkölen project had been completed. The conditions were thereby fulfilled for the second part of the purchase price, which amounted to approximately MSEK 15 and was received by Arise in the same month.

Halmstad, 29 April 2025

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

This information is such information as Arise AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CEST on 29 April 2025.

About Arise
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), Linjegatan 7, 302 50 Halmstad, tel. +46 10 450 71 00, org.nr. 556274-6726, E-mail: [email protected], www.arise.se