aleo solar forecasts 2011 loss

17. January 2012 | Markets & Trends, Global PV markets, Industry & Suppliers | By:  Jonathan Gifford

German-based photovoltaic manufacturer and distributer aleo solar today announced earning forecasts for 2011. Coming in at 462 million euros, the result represents a 17 percent decrease in revenues from 2010.

A photovoltaic factor in Prenzlau.

Cell contracts have set aleo solar back in 2011, according to management. Image. aleo solar.

Attributing the disappointing result to falling module prices and cell supply contracts, the company announced a 2011-projected loss of 25 to 30 million euros.

Addressing the issue of cell supply, aleo solar’s CEO York zu Putlitz said that cell supply agreements are now in line with module prices. "The prices that were fixed for the agreement running until 2019 are more in line with the market," he said.

In other news, Chief Sales Officer, Norbert Schlesiger, resigned from his post on the Management Board. He will not be immediately replaced.

aleo solar’s 2011 annual report is expected on 22 March, 2012.

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