Soltech Energy sells back its share of the subsidiary 365zon in the Netherlands to the founders and comments on the effects of the structural changes announced on January 23, 2026
On April 1, 2022, Soltech Energy acquired 53.3 percent of the of the subsidiary 365zon in the Netherlands, 365zon Energie Holding B.V. Soltech has had a binding option to acquire the remaining 46.7 percent. The cost for exercising this option was set at approximately SEK 30 million with settlement during the first quarter of 2026. The Board of Directors has decided to sell Soltech's share back to the minority owners of the company for EUR 1 instead. The solar energy market in the Netherlands has declined sharply in recent years and the Board's assessment is that the subsidiary 365zon and the solar energy market in the Netherlands will have a long recovery time. Soltech further assesses that 365zon will need shareholder support to continue to run the business long-term. In the near term, Soltech prioritizes profitability and to turn the Group towards profitability in 2026, preserving cash and allocating capital to the business areas that have the highest potential for positive value growth.
Soltech acquired 53.3 percent of 365zon in April 2022 with a binding option to acquire the remaining 46.7 percent. The cost for exercising this option was set at approximately SEK 30 million. When the acquisition was completed in 2022, the consumer market in solar energy was very strong and 2023 was a record year. In 2024 and 2025, the consumer market deteriorated sharply in the Netherlands, mainly due to regulatory changes but also to a weaker macroeconomic climate. As a result, 365zon has rapidly declining profitability and Soltech believes that the company will have a long recovery time. Until then, the assessment is also that the company needs additional shareholder support. The sale of Soltech's share in the subsidiary enables a saving of liquidity (partly the option and partly additional shareholder support) and that the management can focus on the rest of the operations within the Group, which are considered to have higher potential for positive value development for Soltech's shareholders.
– For a couple of years, the solar energy market has been challenging, and we are now implementing a wide range of measures to turn the Soltech Group back into the black figures. We believe in 365zon in the long term, which is led by a competent local team, but we must act here and now, and then we believe that it is more important to maintain liquidity in the Group and avoid large outflows in the near future, says Patrik Hahne, CEO of Soltech Energy.
Comments on the decision on structural changes announced on 23 January
On January 23, the Board of Directors of Soltech announced that the Group is implementing several structural changes for the subsidiaries in solar energy for private individuals in Sweden and Norway as well as a review of the presence in the Netherlands. The divestment of 365zon in the Netherlands, together with other communicated structural changes in the subsidiaries in solar energy for private individuals, will now have several different effects.
A full report will be published in the year-end report that will be released on February 19, 2026. Some of the effects are described below:
The Soltech Group's earnings will be positively impacted by the announced structural changes in the consumer market and the sale of Soltech's share in the subsidiary 365zon. Reported earnings excluding these parts are shown as follows. The businesses addressed are expected to be unprofitable overall in the fourth quarter as well.
The table below shows Q3 figures in MSEK
| Soltech | Businesses addressed in consumer solar (decommissioning, reconstruction, divestment) | Soltech excl. addressed businesses | |
| Net sales | 376.4 | 82.2 | 294.2 |
| EBITDA | -22.9 | -19.3 | -3.6 |
| EBITA | -41.4 | -23.4 | -18.0 |
In addition to this, Soltech continues to implement several activities and initiatives to reduce the cost base, including organizational changes, reduction of fixed costs and efficiency improvements. These activities and initiatives will begin to be realized in the first half of 2026. In addition to this, Soltech also conducts several initiatives to increase sales and marketing.
The sales of Soltech's share in the subsidiary 365zon is expected to contribute to an impairment need of SEK 143 million, which will affect the result for the fourth quarter, but will at the same time reduce the option debt by approximately SEK 44 million and have a positive impact on earnings in the fourth quarter.
Soltech assesses that the remaining cash in the Group is sufficient to meet the Group's ongoing operations and commitments to customers, suppliers and employees for the foreseeable future.
