Midsummer AB announced its year-end report for 2018. In that year, Midsummer had revenues of MSEK 218 [USD 23.7m; EUR 20.9m], and an operating profit of MSEK 36 [USD 3.9m; EUR 3.45m]. The order book stood at MSEK 265 [USD 29m; EUR 25.4m] on Dec 31, 2018.
Midsummer's revenues in 2018 amounted to MSEK 218, which is a 90 percent increase from 2017, when revenues were MSEK 115. The operating profit 2018 of MSEK 36 is an increase of approximately 43 percent from 2017, when the operating profit was MSEK 25.
For the fourth quarter of 2018, net sales amounted to MSEK 53. (Midsummer made no interim reports in 2017, as the company was first listed on Nasdaq First North Stockholm in June 2018.) Booked orders in 2018 amounted to MSEK 265.
"2018 was our best year so far!," said Sven Lindström, CEO of Midsummer. "We've had a fantastic order intake and can present our best sales and result figures ever. The expansion of our organization continues, and during the first quarter of the year we have begun moving in production equipment in our new premises near the existing premises near Stockholm, Sweden. This opens up space for increased production of our DUO machines and for our in-house manufacturing of cells and modules."
The year-end report 2018 shows, among other things, the following important events in the period October-December 2018:
- Net sales for 2018 were TSEK 218,156, which can be compared with net sales of TSEK 115,009 for 2017. Net sales for the fourth quarter of 2018 amounted to TSEK 53,021.
- Operating profit for 2018 was TSEK 35,749, which can be compared with TSEK 25,002 for the full year 2017. - Operating profit for the fourth quarter of 2018 was TSEK 5,037.
- Follow-up order for production equipment at existing customer for expanded production capacity. Order value approximately MSEK 64.
- The total order intake for 2018 was TSEK 264,540.