Soltec rises as Q1 results show improved profitability

Soltec Power Holdings SA

18/06/2024 08:49

** Shares in Soltec Power Holdings  SOLPW.MC  rise 5.1%
after the Spanish maker of solar power equipment returned to
profit in Q1
    ** Soltec reports Q1 profit of 1.3 million euros ($1.4
million) vs loss of 9.6 million euros a year earlier 
    ** "Overall solid set of results, although there was no
consensus to compare," CM Capital Markets says
   ** Eduardo Imedio from Renta 4 also calls the accounts solid
and says they show a clear improvement from Q1 2023
    ** The results shows not only the growth of the business but
also profitability, which should be enough to result in a
positive market reaction, Imedio adds
    ** The stock is on track for its best day since May 7 if
gains hold

($1 = 0.9319 euros)

 (Reporting by Jakub Olesiuk)
 ((jakub.olesiuk@thomsonreuters.com))