Midsummer Shows Continued Strong Growth
Swedish CIGS solar energy firm reports 90 percent revenue increase
Swedish CIGS solar energy firm Midsummer AB has announced its year-end report for 2018. In that year, Midsummer had revenues of €20.9m, and an operating profit of €3.45m.
Midsummer's revenues in 2018 amounted to €20.9m which is a 90 percent increase from 2017, when revenues were €10.98m. The operating profit of €3.45m is an increase of approximately 43 percent from 2017, when the operating profit was €2.39m.
For the fourth quarter of 2018, net sales amounted to €5.06m. (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 €25.4m.
“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 organisation 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.”