Aleo solar lowers revenue guidance02. August 2012 | Industry & Suppliers, Markets & Trends | By: Shamsiah Ali-Oettinger
German company aleo solar has reported that its revenue the first half of 2012 has fallen by 28.3 percent, compared to the first six months of 2011.
The company generated revenue worth €166.4 million in the first half of 2012, compared to €232 million in the previous year. Earnings before interest and taxes (EBIT) was -€23.5 million and EBIT margin was negative 14.1 percent. Earnings per share, meanwhile, were -€1.87. The production volume increased to 197.7 MW, however.
"In Germany, the second quarter of the year was dominated by the uncertainty about the terms of the amendment to the Renewable Energy Act," said York zu Putlitz, CEO and CFO of aleo solar AG. "The major cuts in feed-in tariffs with retroactive effect to 1 April 2012 had a corresponding impact on demand." International business did pick up though compared to the first quarter, especially in Italy and Greece. This pushed foreign business in the first six months of 2012 to account for 58.3 percent of sales.
Overall, the company expects a surge in business in Germany for the rest of 2012. Aleo states that attractive returns in the German market are still possible but in Italy for example, due to the onset of Conto Energia V at the end of August, general conditions for investments may deteriorate.
The stagnating volume of aleo’s European core markets and the likely continuation of the price erosion in the wake of the reductions in FITs will continue to put heavy pressure on revenue and earnings. As such, the company has once again adjusted its revenue guidance. When the interim report for January to March 2012 was published, the original revenue forecast had been reduced from €440 million to €410 million. Now it is predicting revenue of at least €370 million in the 2012 financial year, but expects to record a substantial net loss.
Keep your finger firmly on the photovoltaic pulse: sign up for our daily newsletter
- 4287 views
- 4248 views
- 3308 views
- 3031 views
- 2647 views
Want to publish your press releases for free? Simply log in or register, enter the information you want to appear and we'll publish it for you!