Aleo lowers 2012 revenue guidance14. May 2012 | Industry & Suppliers, Markets & Trends | By: Becky Stuart
In light of continued solar remuneration reductions and falling photovoltaic module prices, Germany’s aleo solar AG has lowered its 2012 revenue guidance.
In the first quarter (Q1) 2012, aleo saw revenues declining by 14.6 percent, from €87.4 million in Q1 2011, to €74.6 million. Its international business was said to be "considerably weaker" compared to the same period last year, accounting for just 57.2 percent of sales, compared to 65 percent.
"The surge in demand that occurred due to the discussion surrounding the EEG amendment enabled us to increase revenue in Germany slightly," commented CEO and CFO, York zu Putlitz. The company expects "moderate" business in the country for the rest of the year, and a "strong" second quarter in Italy.
EBIT also fell, from €2 million in Q1 2011, to €-8.2 million in Q1 2012, and EBIT margin dropped to negative 11 percent, down from 2.3 percent.
Despite its decreasing financials, the company increased its production volume from 75 megawatts (MW) in Q1 2011, to 87.9 MW in Q1 2012.
Due to decreasing feed-in tariffs and falling module prices, aleo has lowered its 2012 revenue guidance from €440 million to €410 million. It also expects to record a net loss.
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