2’21 marked by lower activity, electricity income and winds
Arise delivered a weak Q2 report, with sales below expectations at SEK 36m (-16% vs. ABGSCe). Both the Development & Solutions and Production segments performed worse than we had expected, and group EBIT came in at SEK -6m (vs. ABGSCe at SEK 7m), negatively affected by write-downs made in the Development segment, no additional project proceeds and lower-than-market captured prices for produced electricity due to negative price hedges and unfavourable hourly captured prices. In terms of outlook and on the positive side, Arise is working to secure a strong project pipeline through dialogues with landowners in Norway concerning project rights for greenfield development, and a solar power project has been initiated in the UK. Finally, discussions are being held with several partners in Poland for the purpose of securing solar power projects.
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