SENS publishes interim report for the period January – March 2024

14 May 2024, 17:00 | Regulatory press release

Sustainable Energy Solutions Sweden Holding AB (”SENS” or the ”Company”) hereby publishes the interim report for the period January – March 2024. The full report is available in Swedish on SENS's website and as an attached file.

2024-01-01 – 2024-03-31 (first quarter)

  • Net sales amounted to 1,077 kSEK (292)
  • Operating profit (EBIT) amounted to -6,246 kSEK (-5,640), a decrease of 606 kSEK compared to the corresponding period last year.
  • Operating profit before depreciation and amortization (EBTIDA) amounted to -4,370 kSEK (-2,608), a decrease of 1,762 kSEK compared to the previous period.
  • Earnings per share amounted to -0.04 SEK (-0.02)
  • Cash flow from operating activities amounted to -6,136 kSEK (-1,657)

kSEK = thousand SEK

Comment from Henrik Boman:
In the first few months of 2024, SENS has continued to navigate a dynamic energy market, characterized by a growing need for renewable energy and increased demand for efficient energy storage solutions. This development confirms SENS' commitment and ability to deliver adaptable and efficient energy system solutions. The importance of strategically positioning energy storage as a method to optimize power grids is becoming increasingly clear.

The increasing amount of variable renewable energy (VRE) requires robust storage systems to mitigate grid integration challenges, which are becoming more common as intermittent energy sources such as wind and solar make up a larger part of the energy mix. Globally, the need for more efficient energy storage is critical, and investments in both short-term and long-term storage have proven to be essential to manage these fluctuations and strengthen grid capacity and reliability.

It is part of SENS' strategy to integrate different forms of energy storage, from stationary batteries to underground pumped storage. This allows SENS to adapt its product portfolio to dynamic market developments and demand. This flexibility is central to SENS' continued ability to deliver reliable and sustainable energy storage solutions.

For further information contact:
Henrik Boman, CEO; Phone: 070-224 63 61

This information is the type of information that Sustainable Energy Solutions Sweden Holding AB is obliged to publish pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above on May 14th, 2024 17:00.

About SENS
Sustainable Energy Solutions Sweden Holding AB (publ)(SENS), provides sustainable energy solutions enabling the transition to a fossil-free and CO2 neutral energy mix both locally and internationally. SENS develops, designs, constructs and sells large-scale energy projects combining renewable energy sources with next generation energy storage technologies such as underground pumped hydro storage (UPHS) and/or battery energy storage systems (BESS). The company also conducts technical advisory consultancy services within energy storage and energy systems optimisation. The company is listed on NGM Nordic SME under the short name SENS.

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