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Midsummer books USD-2m profit in H1 2018

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Midsummer books USD-2m profit in H1 2018


August 31 (Solar) – Swedish solar technology company Midsummer AB today published its first half-year financial report, revealing profits of SEK 19 million (USD 2m/EUR 1.8m) and “a record high” volume of orders at about SEK 153 million.

Midsummer supplies equipment for the production of thin-film solar cells as well as building-integrated photovoltaic (BIPV) solutions for the application of thin-film solar panels on buildings. The company completed a heavily oversubscribed initial public offering (IPO) in June and this is the first time it compiles a half-year report so there are no comparable numbers for the first half of 2017.

In January-June 2018, the company generated revenues of some SEK 103 million. The order book value as of June 30 amounted to SEK 67 million.

For the whole 2017, Midsummer reported profits of SEK 25 million on revenues of SEK 115 million.

”Global demand for the company’s turnkey equipment for the manufacturing of thin film solar cells is increasing and Midsummer has had a good start to 2018 with record high orders received and strong profits,” commented CEO Sven Lindstrom.

(SEK 10 = USD 1.096/EUR 0.940)


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