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 solars 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 solars 2011 annual report is expected on 22 March, 2012.