The project has been sold to a European financial investor at the end of last year. Because the company's management have been busy with the closing of the sale of Serenissima, its publication of the annual statements will be delayed by a few days, to April 11. The Q1 report for 2012 and the Annual General Meeting are not affected by this.
The company announced that the sales for the fiscal year 2011 will range between 260 million and 280 million, and the EBIT is expected to be positive. After outstanding receivables have been settled and the project bridging loan of approximately 80 million has been repaid, the company will receive liquid funds in the amount of over 50 million.
The balance sheet total that S.A.G. Solarstrom AG will disclose is still at a very high level at this key date, due to the large amount of trade receivables and the high amount of the project bridging loan. The balance sheet total will be almost halved after the inflow of funds from the sale and the equity ratio will once again rise to over 30 percent.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.