S.A.G Solarstrom says it completed all planned projects last year, with half of its sales generated abroad. Installations included two projects in Apulia, Italy, with 4.9 MWp and 4.7 MWp, a 5.1 MWp system in Kamenicna, the Czech Republic and a 2.13 MWp project in Spaichingen, Germany.
This year, the German company says its project pipeline is healthy, with a 48 MWp project planned for the Venice area in Italy and a 23 MWp rooftop installation at an unnamed German logistics company. It adds that additional projects are planned in other European countries, especially in France.
"We are very satisfied with the business performance in 2010 and we managed to complete all projects as planned", comments Karl Kuhlmann, CEO of S.A.G. Solarstrom. "Together with our partners, we installed systems with a total capacity of approximately 67 MWp, which is almost double the total for 2009. The demand for monitoring and other services has also risen significantly in 2010."
Going forward, the company says it will be able to maintain its profitable growth, with sales forecasts of between 260 and 280 million and earnings before interest and taxes of 16 to 18 million.
Kuhlmann adds: "The market situation is currently uncertain especially due to the continuing discussions on feed-in tariffs in Germany and other European countries. However, our company has sufficient flexibility to continue growing in 2011 as planned. We anticipate sales this year between 260 and 280 million and EBIT between 16 and 18 million."