Arise AB: Interim report for the period 1 January– 31 March 2014
Arise AB (STO:ARISE):
- Net sales during the quarter amounted to MSEK 82 (55).
- Operating profit before depreciation (EBITDA) amounted to MSEK 64 (54) of which MSEK -3 (13) represented Arise’s share of profits in the associated company owning the Jädraås project.
- Profit/loss before tax amounted to MSEK 22 (13).
- Profit/loss after tax totalled MSEK 16 (13) which is equivalent to SEK 0.49 (0.38) per share.
- Power production amounted to 197 (131) GWh, of which the segment Own wind power operations produced 126 (76) GWh and the segment Co-owned wind power operations produced 71 (54).
- Average income from Own wind power operations amunted to SEK 653 (714) per MWh with SEK 417 (406) per MWh from electricity and SEK 236 (308) from electricity certificates.
Significant events after the end of the reporting period
- Arise has issued a five-year secured green bond loan for SEK 1.1 billion with an interest rate of STIBOR 3 months + 3 percentage points. The transaction implies that the Company’s loans will decrease by approximately MSEK 90 and that negative interest rate hedges of MSEK 70 will be terminated, something that will only impact cash flow. The bond will be listed on NASDAQ OMX Stockholm.
- An agreement in principle has been entered into with KumBro Vind AB regarding the sale of a wind farm with three wind turbines and a total of 5.4 MW.
Halmstad 6 May, 2014
ARISE AB (publ)
The information contained herein constitutes information which Arise AB is legally required to publish under the Swedish Securities Market Act (2007:528) and/or the Swedish Financial Instruments Trading Act (1991:980). The information was released for publication at 10.30 a.m. on 6 May 2014.
Arise is one of Sweden's leading companies in onshore wind power. Its business concept is to sell electricity generated at the company's own wind turbines. The company's target is to have 1,000 MW of onshore wind power constructed and under management by 2017, of which 500 MW will remain in the ownership of the company. Arise is listed on NASDAQ OMX Stockholm.