Sweden's Gigasun Q2 revenue falls 14% on weak solar output

Gigasun AB (publ)

25/08/2026 13:27

Overview
Sweden solar PV operator's Q2 revenue fell 14% yr/yr amid weak solar irradiation and tariff cuts
Company posted Q2 net loss, impacted by currency effects and higher operating expenses
Average interest rate declined to 4.77% from 5.72% due to refinancing

Outlook
Company says further electricity tariff changes are not expected in the near future
Gigasun expects average interest rates to continue declining due to ongoing refinancing
Company targets 1,000 MW installed capacity in the medium term

Result Drivers
WEAK SOLAR IRRADIATION - Co said unusually weak solar irradiation reduced production per installed MW by 10%, accounting for about SEK 7.8 mln of revenue decline
LOWER ELECTRICITY TARIFFS - Adjusted tariffs in Jiangsu and Anhui provinces negatively impacted revenue by about SEK 7.0 mln, per company
CURRENCY EFFECTS - Weaker currency and higher share of direct-to-net sales contributed to lower revenues, company said

Company press release: ID:nMFN9mNrxt

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
SEK 61.6 mln
 
Q2 Adjusted Loss Per Share
 
SEK 0.02
 
Q2 Net Loss
 
SEK 1.1 mln
 
Q2 Operating Expenses
 
SEK 43.4 mln
 
Q2 Operating Profit
 
SEK 18.2 mln
 

Analyst Coverage
The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 8 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)