Swedish solar energy technology leader Midsummer reports strong first half of financial 2018

Solar energy technology leader Midsummer, one of the world's leading developers and suppliers of advanced solar solutions, has today announced its financial results for the period January - June of 2018. The company has experienced a record high volume of orders received during the first half of the year - about SEK 153m [EUR 14.3m; USD 16.7m] - and good profits.

Midsummer's revenues in the first half of 2018 were approx. SEK 103m, with profits of approx. SEK 19m. There are no comparable numbers for the same period in 2017 since 2018 is the first year when Midsummer, recently listed at Nasdaq First North Stockholm, compiles a half-year report. For the entire financial year 2017, Midsummer's revenues were SEK 115m and its profits SEK 25m.

"Global demand for the company's turnkey equipment for the manufacturing of thin film solar cells is increasing and Midsummer has had a good start to 2018 with record high orders received and strong profits," said Sven Lindström. CEO, Midsummer. "Our organization is expanding; We have hired 30 new employees this year, most of them engineers."

The financial report for the first six months of 2018 contains the following major developments:

Midsummer is a leading developer and supplier of advanced solar energy solutions for the production and installation of thin film solar cells and also a leading Swedish growth and export company. The unique DUO system has taken the position as the most widely distributed manufacturing tool for flexible CIGS solar cells in the world.

For photos of thin film CIGS solar cells and the Midsummer manufacturing equipment, please go to http://midsummer.se/press/media-gallery or contact Mr. Lindström.

Stockholm, Sweden, August 31, 2018.

For additional information please contact: Sven Lindström
CEO, Midsummer AB
Email: sven.lindstrom@midsummer.se
Phone: +46 (0) 8 525 09 610

About Midsummer
Midsummer is a leading developer and supplier of advanced solar energy technology solutions for the production and installation of thin film solar panels. Its business offering includes equipment for cost-effective manufacturing of thin film solar cells as well as building-integrated photovoltaic (BIPV) solutions for the application of thin film solar cells on buildings (facades, roofs etc.). Midsummer's thin film solar modules are light, flexible, durable and highly efficient and therefore ideal for distributed renewable energy projects. Midsummer's proprietary technology is based on a rapid process for the production of flexible thin film solar cells using sputtering of all layers of the solar cell. The Company's share (MIDS) is traded on Nasdaq First North Stockholm with G & W Fondkommission as Certified Adviser. For more information, please visit: www.midsummer.se

This information is information that Midsummer AB (PUBL) is obliged to disclose under the EU Market Abuse Regulation. The information was provided, through the contact of the above contact person, for publication at 08:45 CET on August 31 2018.