1 October – 31 December 2025

• Net sales amounted to 1,372 (729) MSEK.
• EBIT amounted to -313 (437) MSEK. Profit before tax amounted to -356 (433) MSEK.
• Net profit amounted to -312 (315) MSEK.
• Earnings per share before and after dilution equaled -12.14 (12.69) SEK.
• At the end of the period, Eolus had 1,274 (967) MW under asset management.

1 January – 31 December 2025

• Net sales amounted to 3,911 (851) MSEK.
• EBIT amounted to -310 (288) MSEK. Profit before tax amounted to -410 (272) MSEK.
• Net profit amounted to -356 (155) MSEK.
• Earnings per share before and after dilution equaled -13.92 (6.23) SEK.
• At the end of the period, Eolus had 1,274 (967) MW under asset management.

Significant events during the period

• On 23 December, Eolus completed the sale of the Swedish wind parks Fågelås, Dållebo and Boarp, all located in price area SE3, to Mirova. In connection with the sale, Eolus signed a 15-year operation and management agreement for the parks and an agreement to jointly develop energy storage systems at two of the parks with the owner.

Significant events after the balance sheet date

• On January 27, Eolus announced preliminary results and that the company would recognise impairments of projects, mainly offshore wind power projects. The impact of the impairment losses on operating profit for the fourth quarter amounted to approximately SEK -240 million.
• On 27 January, Eolus's Board announced its decision to withdraw the financial target of achieving a total operating profit of SEK 1,400 million over the period 2025–2027, but maintains the targets regarding return on equity, equity ratio and dividend policy.
• On 3 February, Eolus's customer took a final investment decision for 189 MW and 27 turbines in the onshore wind project Fageråsen. Eolus and DalaVind co-developed the project until it was sold to OX2 in July 2025. The decision triggers an instalment payment to Eolus that is expected to have a positive impact on cash flow and earnings in the first quarter 2026.

Comment from CEO Per Witalisson

“The fourth quarter's transactions generated a net cash flow of just over SEK 500 million, letting us turn net debt into net cash and enter 2026 with more than half a billion in the bank.”

Invitation to the report presentation
At 10:00 a.m. today a webcast with teleconference will be held, where the report is presented by CEO Per Witalisson and CFO Catharina Persson. The presentation will be held in Swedish with opportunity to ask questions in English or Swedish.

If you wish to participate via webcast, please use the link below:
https://eolus.events.inderes.com/q4-report-2025/register
Via the webcast you can ask written questions in English or Swedish.

If you wish to participate via teleconference please register on the link below:
https://events.inderes.com/eolus/q4-report-2025/dial-in

Financial summary

* for definitions of alternative performance measures see page 32 of the report.