Eolus Vind: Öyfjellet finally completed - ABG
Q1 report on Thursday, 11 May
Öyfjellet finally completed
The share is trading at 9x P/E on '23e
Q1 expectations
We expect Eolus to report net sales of SEK 259m. We forecast ~SEK 200m revenue recognition from Öyfjellet, as the project has reached completion, and ~SEK 38m from Stor-Skälsjön. We expect Rosenskog, Skallberget/Utterberget and Tjärnäs to be sold in Q2'23 and have no revenue recognition from Centennial Flats this quarter. We still expect no EBIT contribution from the final revenue recognition from Öyfjellet and expect Stor-Skälsjön will be the main EBIT contributor. All in all, we forecast EBIT of SEK 29m and net profit of SEK 24m.
Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/eolus-vind/Equity-research/2023/5/eolus-vind---oyfjellet-finally-completed/