Otovo - markedsledende på solceller

TekBot · mars 28, 2025, 1:54pm

Otovo closes transaction to sell continental subscription assets to Swiss Life Asset Managers

Otovo ASA (“Otovo” or “the Company”) today completed the sale of its portfolio of continental subscription assets to FORTE PV S.à r.l., part of a collective investment scheme managed by Swiss Life Asset Managers (“SLAM”). Reference is made to the announcement on 21 February 2025 regarding the signing of this transaction. The total transaction is expected to come in at EUR 108 million, up from previous estimate of EUR 105 million.

Final transaction size for first close totals EUR 57.8 million, with a cash release of EUR 13.2 million; net of repayment of debt related to Otovo’s financing facility of EUR 38.4; and reinvestment by Otovo of EUR 6.2 million (equal to 11% of transaction size, previously estimated to 12%)
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Payment from SLAM will for operational purposes be split into two tranches, where the first consists of EUR 42.4 million, and the second tranche of EUR 9.3 million, to be received in April. Otovo will thus in total receive EUR 51.7 million, corresponding to the 89% stake sold to SLAM, and reinvest EUR 6.2 million in the joint entity

As partners, Otovo and SLAM will continue to develop and scale the continental subscription offering and Otovo will as a shareholder fund 2% (reduced from a previously estimated 5%) of new investments under a Continuous Sale Agreement, under which Otovo will continue to sell continental portfolio assets to SLAM

The estimated size of the Continuous Sale Agreement is EUR 50 million in the period Q1 2025 to Q3 2026. Otovo expects to realize a gross margin of approximately 32% under this agreements with continuous - rather than delayed - revenue recognition and cash effect

– The sale of the continental subscription portfolio is a transformative milestone for Otovo. It shows the value in the unique infrastructure we have built, and puts us on a clear path to profitability. We switch from investing to harvesting, says Andreas Thorsheim, CEO and founder of Otovo.

Closing of this transaction is an important step in the company reset that has also involved cost cuts executed in 2H 2024 and the introduction of a new and more intimate sales approach. The new Otovo is characterized by:

Exposure to megatrends in a huge market - Solving a defining problem of our generation

The best online infrastructure combined with the a lean cost structure

The only pan-European leasing platform for home energy assets

Lower breakeven point and high operational leverage

Positive asymmetric risk into transformative years of European energy

– With this deal closed, my team and I can now focus our efforts on growing sales volumes across Europe’s improving home energy markets, and getting Otovo to profitability, says Thorsheim.

For further queries, please contact:

Andreas Thorsheim, Chief Executive Officer
Phone: +47 93 06 51 78

Petter Ulset, Chief Financial Officer
Phone: +47 93 60 26 43

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to the STA section 5-12.

About Otovo: For homeowners, Otovo is the easiest way to get solar panels on the roof, and batteries in the home. Otovo is a marketplace that organizes hundreds of local, high quality and qualified energy installers. The company uses its proprietary technology to analyze the potential of any home and finds the best price and installer for customers based on an automatic bidding process between available installers.

Follow us on investor.otovo.com for reports, financial calendar, contact details and more.

Kilde

TekBot · april 9, 2025, 5:01am

Otovo employees appoint new Employee Representatives to the Board of Directors

On 8 April 2025, the employees of the Otovo Group elected Nanna Petersen and Samuel Gürtl as new Employee Representatives at the Board of Directors of Otovo ASA with a term of office of two years starting 1 May 2025.

Nanna Petersen is a German citizen working as a team manager for pre-sales in the Group’s European Operations Centre in Madrid. Samuel Gürtl is an Austrian citizen working as a global head of sales operations, and is located in Vienna. The two will replace Zoë Wyon and Nico Schwab, who will end their term on the same date.
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On behalf of the of the Otovo Group, we would like to thank Nico and Zoë for their service as board members.

For further queries, please contact:

Andreas Thorsheim, Chief Executive Officer
Phone: +47 93 06 51 78

Petter Ulset, Chief Financial Officer
Phone: +47 93 60 26 43

About Otovo: For homeowners, Otovo is the easiest way to get solar panels on the roof, and batteries in the home. Otovo is a marketplace that organises hundreds of local, high quality and qualified energy installers. The company uses its proprietary technology to analyse the potential of any home and finds the best price and installer for customers based on an automatic bidding process between available installers.

Follow us on investor.otovo.com for reports, financial calendar, contact details, and more.

Kilde

TekBot · april 24, 2025, 8:00am

Otovo ASA: Notice of Annual General Meeting 2025

Oslo, 24 April 2025

The Annual General Meeting of Otovo ASA will be held on Thursday 15 May 2025 at 10:00 CET as a digital meeting.
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The notice and agenda of the General Meeting is attached to this message. The notice and all appendices are available at: Financial reports & presentations | Otovo Investor Relations.

All shareholders wishing to attend and vote at the General Meeting must register their attendance by 13 May 2025 at 16:00 hours (CEST). Further information about registration and digital attendance to the meeting is included in the notice.

This information is subject to disclosure requirements pursuant to §5-12 of the Norwegian Securities Trading Act.

For further queries, please contact:

Andreas Thorsheim, Chief Executive Officer
Phone: +47 93 06 51 78

Petter Ulset, Chief Financial Officer
Phone: +47 93 60 26 43

About Otovo: For homeowners, Otovo is the easiest way to get solar panels on the roof, and batteries in the home. Otovo is a marketplace that organises hundreds of local, high quality and qualified energy installers. The company uses its proprietary technology to analyse the potential of any home and finds the best price and installer for customers based on an automatic bidding process between available installers.

Follow us on investor.otovo.com for reports, financial calendar, contact details, and more.

Kilde

TekBot · april 24, 2025, 8:00am

Otovo publishes 2024 Annual Report

Oslo, 24 April 2025

Today, Otovo ASA has published its Annual Report for 2024. The report also includes Otovo’s Sustainability Statements and Corporate Governance Report for 2024.
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The Annual Reports and related ESEF files are attached to this stock exchange notice and published on:
Financial reports & presentations | Otovo Investor Relations.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

For further queries, please contact:

Andreas Thorsheim, Chief Executive Officer
Phone: +47 93 06 51 78

Petter Ulset, Chief Financial Officer
Phone: +47 93 60 26 43

About Otovo: For homeowners, Otovo is the easiest way to get solar panels on the roof, and batteries in the home. Otovo is a marketplace that organises hundreds of local, high quality and qualified energy installers. The company uses its proprietary technology to analyse the potential of any home and finds the best price and installer for customers based on an automatic bidding process between available installers.

Follow us on investor.otovo.com for reports, financial calendar, contact details, and more.

Kilde

TekBot · april 24, 2025, 2:26pm

Otovo ASA - Option allocation to primary insiders and employees

Reference is made to the stock exchange notice on 1 December 2023 regarding the resolution by the extraordinary general meeting (the “EGM”) of Otovo ASA, to grant Otovo’s Board of Directors an authorisation to increase the company’s share capital in connection with the company’s share option programmes, that, as set out in the notice of the EGM, were to be restructured.

On 31 March 2025 the Board of Directors resolved to issue 7,123,998 options under the existing share option programme. Today, the Company has awarded these options to key employees.
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The strike price of the new options was set in line with previous policy at NOK 1.41, corresponding to the volume-weighted average price on the five days following the close of the portfolio transaction on 28 March 2025. The options vest over three years, with one third each year, and first vesting on 1 January 2026.

The following primary insiders have been allocated the following number of new options:

Andreas Thorsheim (CEO): 450,000
Simen Fure Jørgensen (COO): 450,000
Petter Ulset (CFO): 600,000
Alexander Berson (CMO): 450,000
Fabio Stefanini (CRO): 450,000
Ida Groth (CPO): 450,000

The primary insider notification form pursuant to the requirements of the Market Abuse Regulation are attached.

The remaining options will be allocated to key employees of the Otovo group.

In addition, the Board of Directors has decided to change the strike price of the existing 7,222,332 options outstanding to NOK 1.41 and prolong the vesting period, to match the structure for the new options issued. All other terms remain unchanged.

In total the Company has 14,346,330 options outstanding including the issuance of new options. Adjustments to the total number of outstanding options will be reported quarterly in the company’s financial reports.

This information is subject to the disclosure requirements pursuant to the Market Abuse Regulation (EU) 596/2014 article 19 number 3 and section 5-12 of the Norwegian Securities Trading Act.

For further queries, please contact:

Andreas Thorsheim, Chief Executive Officer
Phone: +47 93 06 51 78

Petter Ulset, Chief Financial Officer
Phone: +47 93 60 26 43

About Otovo: For homeowners, Otovo is the easiest way to get solar panels on the roof, and batteries in the home. Otovo is a marketplace that organises hundreds of local, vetted, high quality energy installers. The company uses its proprietary technology to analyse the potential of any home and finds the best price and installer for customers based on an automatic bidding process between available installers.

Follow us on investor.otovo.com for reports, financial calendar, contact details and more.

Kilde

TekBot · april 29, 2025, 10:00am

Invitation to presentation of Q1 2025 results

Otovo ASA will present its Q1 2025 results on Tuesday, 6 May 2025. The report and presentation will be made available at 07:00 AM (CET) at investor.otovo.com and newsweb.no.

Presenters: CEO Andreas Thorsheim, CFO Petter Ulset
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Time: 09:00 (CET) on 6 May 2025
Language: English
Venue: The event will be live-streamed

Please use the following link to register for the event:
https://www.investorweb.no/ir-channel/OTOVO/event/fadae76d-7810-46db-866a-4779e421c591

For further information or questions please contact Investor Relations via e-mail to ir@otovo.com.

About Otovo: For homeowners, Otovo is the easiest way to get solar panels on the roof, and batteries in the home. Otovo is a marketplace that organizes hundreds of local, high quality and qualified energy installers. The company uses its proprietary technology to analyze the potential of any home and finds the best price and installer for customers based on an automatic bidding process between available installers.

Follow us on investor.otovo.com for reports, financial calendar, contact details and more.

Kilde

TekBot · mai 6, 2025, 5:00am

Otovo Q1 2025 Results: Return to sales growth and improved financial strength

(1) Return to sales growth
Strong growth in order intake, both in value (+30%) and in number of customers (+34%). Backlog building back to growth, up 27% from previous quarter. Profitability per project is strong.

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(2) Cash buffer strengthened
Cash flow fundamentally improved, with return to growth and new leasing structure. Cash and receivables available at the start of Q2 is above NOK 200 million - a comfortable buffer given the improved cash flow profile.

(3) Cost structure reset
Cost improvements clearly visible on marketing (down 39%) and personnel cost (down 41%). Strong efficiency gains and confidence in ability to improve further, even as volumes grow, which will improve operating cash flow going forward.

(4) Consumer outlook improving
Consumers triggered by shorter payback times on solar and batteries, while resilience and backup demand is likely to get boosted in quarters ahead.

KEY FIGURES (change QoQ)
Order intake: NOK 154m (+30%)
Revenue: NOK 125m (-13%)
Backlog: NOK 195m (+27%)
Gross profit: NOK 31m (-8%)
Gross margin: 25% (+2%p)
EBITDA: NOK -65m (-9m)

Andreas Thorsheim, CEO, remarks on the quarter:

This quarter was a big turning point for Otovo. Order intake grew 30% and the backlog added 27%, as we were able to attract more customers and sell more products.

The company ended Q1 with NOK 215 million in available funds as combined cash and portfolio sale receivables. The efficiency and cost cutting measures have essentially been implemented, reducing marketing and payroll costs. In combination with the uptick in order intake and a more upbeat look on the European consumer’s interest in solar and battery solutions, Otovo is looking to bridge the gap to profitability.

– We’ve cut costs, sold the portfolio and improved margin per project through our new setup for the leasing segment. These things add up, and we are going to move our operational losses into the rearview mirror.

Please find attached the quarterly report and quarterly presentation. Andreas Thorsheim (CEO) and Petter Ulset (CFO) will present the material at a webcast at 09:00 CET on 06 May, that can be viewed through the following link: https://www.investorweb.no/ir-channel/OTOVO/event/fadae76d-7810-46db-866a-4779e421c591

Disclosure Regulation

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Metrics used in this notice are defined in the attached financial report.

About Otovo: For homeowners, Otovo is the easiest way to get solar panels on the roof, and batteries in the home. Otovo is a marketplace that organizes hundreds of local, high quality and qualified energy installers. The company uses its proprietary technology to analyze the potential of any home and finds the best price and installer for customers based on an automatic bidding process between available installers.

Follow us on investor.otovo.com for reports, financial calendar, contact details and more.

Kilde

TekBot · mai 15, 2025, 3:01pm

Otovo ASA: Minutes of the Annual General Meeting 2025

Oslo, 15 May 2025

The annual general meeting of Otovo ASA was held today on 15 May 2025 at 10:00 AM CET. All proposals on the agenda were adopted. Minutes of the general meeting are attached hereto and made available on the company’s investor website (https://investor.otovo.com/).
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This information is subject to disclosure requirements pursuant to §5-12 of the Norwegian Securities Trading Act.

For further queries, please contact:

Andreas Thorsheim, Chief Executive Officer
Phone: +47 93 06 51 78

Petter Ulset, Chief Financial Officer
Phone: +47 93 60 26 43

About Otovo: For homeowners, Otovo is the easiest way to get solar panels on the roof, and batteries in the home. Otovo is a marketplace that organises hundreds of local, high quality and qualified energy installers. The company uses its proprietary technology to analyse the potential of any home and finds the best price and installer for customers based on an automatic bidding process between available installers.

Follow us on investor.otovo.com for reports, financial calendar, contact details, and more.

Kilde

TekBot · juni 6, 2025, 4:02am

Otovo ASA: John Berger, founder of US solar industry leader, to join Otovo’s Board of Directors

Otovo’s Nomination Committee has proposed the election of William John Berger to Otovo’s Board of Directors.

Mr. Berger founded Sunnova Energy International (Sunnova) in 2012 and held the roles of Chief Executive Officer, President, and Chairman of the Board until March 2025. During his time at Sunnova, Mr Berger built the company to be a leading force in U.S. solar, pioneering several industry innovations in leasing, grid services (VPP) and maintenance services, creating more than 500,000 recurring customers, and completing a successful IPO of the company on the New York Stock Exchange in 2019.
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Mr. Berger began his career optimizing power assets, later co-founding an energy tech venture fund and advising the U.S. Federal Energy Regulatory Commission. As founder of Standard Renewable Energy, he helped pioneer solar adoption for American homes and businesses. He went on to create SunCap Financial, a residential solar services firm that became the foundation for Sunnova.

He holds a Masters in Business Administration from Harvard Business School and a Bachelors degree in civil engineering from Texas A&M University, graduating cum laude.

“We are honored that John has accepted the nomination to join Otovo’s Board of Directors. John’s work in the US has been a source of inspiration while building Otovo. Our pan-European leasing product and our European Operations Centre have both drawn on pioneering concepts from the US” says Andreas Thorsheim, founder and CEO of Otovo.

“Otovo’s focus on great customer service and marketplace model stands out as one of the most scalable approaches in residential solar today. I’m impressed by Andreas’ operational leadership and the team’s clear vision, and I look forward to contributing my experience from the U.S. market to support Otovo’s mission of accelerating clean energy adoption internationally” adds John Berger on his nomination.

Thursday 5 June, Jacob Wall and Josefin Landgård announced their decision to resign from the Board of Directors. The Axel Johnson Group will continue to be represented on the Company’s Nomination Committee by Marie Strannegård.

Chair of the Board, Beatriz Malo de Molina, comments:
“We thank Josefin and Jacob for their many and significant contributions to Otovo over their time as directors and we are very pleased with the Nomination Committee’s proposal of Mr. Berger as a new member.”

The Board of Directors will call for an extraordinary General Meeting to effectuate the proposed election of Mr. Berger to Otovo’s Board of Directors.

For further queries, please contact:

Andreas Thorsheim, Chief Executive Officer
Phone: +47 93 06 51 78

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to the STA section 5-12.

About Otovo: For homeowners, Otovo is the easiest way to get solar panels on the roof, and batteries in the home. Otovo is a marketplace that organizes hundreds of local, high quality and qualified energy installers. The company uses its proprietary technology to analyze the potential of any home and finds the best price and installer for customers based on an automatic bidding process between available installers.

Follow us on investor.otovo.com for reports, financial calendar, contact details and more.

Kilde

TekBot · juni 13, 2025, 6:01am

Otovo ASA: Notice of Extraordinary General Meeting

Oslo, 13 June 2025

Reference is made to the stock exchange notice sent June 6th regarding the election of John Berger to Otovo ASA’s Board of Directors. In this regard, an extraordinary general meeting will be held on Friday 4 July 2025 at 09:00 CET as a digital meeting.
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The notice and agenda of the general meeting is attached to this message. The notice and all appendices are available at: Financial reports & presentations | Otovo Investor Relations.

All shareholders wishing to attend and vote at the General Meeting must register their attendance by 2 July 2025 at 16:00 hours (CEST). Further information about registration and digital attendance to the meeting is included in the notice.

This information is subject to disclosure requirements pursuant to §5-12 of the Norwegian Securities Trading Act.

For further queries, please contact:

Andreas Thorsheim, Chief Executive Officer
Phone: +47 93 06 51 78

Petter Ulset, Chief Financial Officer
Phone: +47 93 60 26 43

About Otovo: For homeowners, Otovo is the easiest way to get solar panels on the roof, and batteries in the home. Otovo is a marketplace that organises hundreds of local, high quality and qualified energy installers. The company uses its proprietary technology to analyse the potential of any home and finds the best price and installer for customers based on an automatic bidding process between available installers.

Follow us on investor.otovo.com for reports, financial calendar, contact details, and more.

Kilde

TekBot · juli 7, 2025, 5:00am

Invitation to presentation of Q2 2025 results

Otovo ASA will present its Q2 2025 results on Friday, 11 July 2025. The report and presentation will be made available at 07:00 AM (CET) at investor.otovo.com and newsweb.no.

Presenters: CEO Andreas Thorsheim, CFO Petter Ulset
…

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Time: 09:00 (CET) on 11 July 2025
Language: English
Venue: The event will be live-streamed

Please use the following link to register for the event:
OTOVO ASA | Q2 2025

For further information or questions please contact Investor Relations via e-mail to ir@otovo.com.

About Otovo: For homeowners, Otovo is the easiest way to get solar panels on the roof, and batteries in the home. Otovo is a marketplace that organizes hundreds of local, high quality and qualified energy installers. The company uses its proprietary technology to analyze the potential of any home and finds the best price and installer for customers based on an automatic bidding process between available installers.

Follow us on investor.otovo.com for reports, financial calendar, contact details and more.

Kilde

TekBot · juli 8, 2025, 3:00pm

Otovo ASA: Minutes of the Extraordinary General Meeting

Oslo, 8 July 2025

An extraordinary general meeting of Otovo ASA was held on 4 July 2025 at 09:00 AM CEST. All proposals on the agenda were adopted. Minutes of the general meeting are attached hereto and made available on the company’s investor website (Financial reports & presentations | Otovo Investor Relations).
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This information is subject to disclosure requirements pursuant to §5-12 of the Norwegian Securities Trading Act.

For further queries, please contact:

Andreas Thorsheim, Chief Executive Officer
Phone: +47 93 06 51 78

Petter Ulset, Chief Financial Officer
Phone: +47 93 60 26 43

About Otovo: For homeowners, Otovo is the easiest way to get solar panels on the roof, and batteries in the home. Otovo is a marketplace that organises hundreds of local, high quality and qualified energy installers. The company uses its proprietary technology to analyse the potential of any home and finds the best price and installer for customers based on an automatic bidding process between available installers.

Follow us on investor.otovo.com for reports, financial calendar, contact details, and more.

Kilde

TekBot · juli 11, 2025, 5:01am

Otovo Q2 2025 Results: Growth in revenues and continued growth in sales

(1) Revenue Growth: Revenues rose 22% to NOK 152m, driven by the improved order intake from Q1. Pipeline at quarter-end remained solid at NOK 221m, signaling continued installation momentum into 2H. Gross margin remained stable at 24%, confirming healthy underlying unit economics.
(2) Sales Momentum Continues: Order intake increased by 15% to NOK 178m from Q1. The new customer intake expanded 9% to 1,535 during the quarter. Increases in order intake value were partially helped by a weakening NOK. Enhanced sales strategies drove increased sales, reflecting resilience in a challenging market.
(3) Positive Cash Flow: Cash expanding from NOK 75m to NOK 154m including receivables from SLAM during the quarter after completing seminal portfolio transaction and improved cash flow from operating activities.
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(4) Improved Cost Efficiency: Significant cost reductions achieved in personnel expenses (down 39% YoY), reflecting improved operational efficiency. Otovo remains confident in achieving further cost optimizations even with growing volumes, supporting improved future operating cash flows.
(5) Stable Short-term Market with Positive Long-term Outlook: The European residential solar market is stable after multiple quarters of contraction. Anticipated interest rate reductions, ongoing cost and technology advancements in the hardware space, and supportive regulatory measures underpin robust market expansion towards 2030.

KEY FIGURES (change QoQ)
Order intake: NOK 178m (+15%)
Revenue: NOK 152m (+22%)
Backlog: NOK 221m (+13%)
Gross profit: NOK 36m (+18%)
Gross margin: 23.9% (-0.7%p)
EBITDA: NOK -58m (+7m)

Andreas Thorsheim, CEO, remarks on the quarter:

We’re energized by our continued growth in sales. Otovo is taking market share in a European market that has been struggling. Now we believe we are leading the way in its recovery.

The company has shown the ability to grow consecutively in a slow market. Otovo will now continue to roll out the new sales approach, while the cost structure that was reset last year will allow the company to continue to grow with limited incremental cost.

Please find attached the quarterly report and quarterly presentation. Andreas Thorsheim (CEO) and Petter Ulset (CFO) will present the material at a webcast at 09:00 CET on 11 July, that can be viewed through the following link: OTOVO ASA | Q2 2025

Disclosure Regulation

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. Metrics used in this notice are defined in the attached financial report.

About Otovo: For homeowners, Otovo is the easiest way to get solar panels on the roof, and batteries in the home. Otovo is a marketplace that organizes hundreds of local, high quality and qualified energy installers. The company uses its proprietary technology to analyze the potential of any home and finds the best price and installer for customers based on an automatic bidding process between available installers.

Follow us on investor.otovo.com for reports, financial calendar, contact details and more.

Kilde