Oldenburg-based PV module manufacturer Aleo Solar stated that based on preliminary calculations, the company expects to have closed the first six months of this year with an operating loss (before interest and taxes) of 29.4 million (US$37.71 million). This is even lower than 2012's half-year period, which closed with a 23.5 million loss. Revenue plunged nearly 100 million to 68.3 million, a defty change from the previous year's 166.4 million.
The first six months of 2013 saw rather sluggish demand for PV in Europe, according to Aleo solar. This was especially so in Germany. Even though the figures for June 2013 from the Federal Network Agency have not been released, only 1,488 MW were connected to the grid January to May this year. In contrast, 4,374 MW of solar electricity were connected to the grid in Germany the first half of last year.
The subsidy cuts in Europe have also dampened demand for PV. The company states that since the expiry of the most recent transition periods in connection with the 2012 amendment of the German Renewable Energy Act (EEG), demand for photovoltaics has been down approximately 50% year-on-year.
However, Aleo solar did record an increase in revenue in the U.S. Still this only partly compensated the weak business in Europe. The price pressure has also hit Aleo Solar. "Selling prices dropped by around 25 percent compared with the first six months of last year," said York zu Putlitz, CEO of Aleo Solar AG.
Aleo Solar has been searching for investors to replace Bosch's 90.7% stake after Bosch withdrew from the PV business. Zu Putlitz had already expected the company to make another loss in 2013 then.
The complete 2013 half-year financial report is expected to be published 13 August 2013.
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: firstname.lastname@example.org.
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.