Q1 2022 Eolus Vind AB (publ) Earnings Call Transcript
Welcome to the presentation of Eolus Q1 report. We can turn directly to slide number 2, the Q1 key takeaways. We had net sales of SEK432 million. We made a net loss of SEK138 million, and the vast majority of revenues and costs are related to the Ãyfjellet repair project.
And we reiterate that we aim to hand over the project to our customer Aquila Capital by the end of June 2022. And during the quarter, we have faced further challenges and increased costs related to the previously communicated delays for that project. And we'll come back to that more in detail later in the presentation.
The quarter also showed a significant growth of the target portfolio, where we added more than 2,000 megawatts during the quarter. We procured wind turbines for the Swedish projects Skallberget/Utterberget and Tjärnäs totaling 94 megawatts and construction has stopped for those targets. And when we presented our Q4 report, we also communicated updated financial targets for 2022 to 2024 based on our new business plan.
After the end of the first quarter,
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