More grim news for aleo solar

Embattled German solar module manufacturer aleo solar AG today announced it expects to post a €69.7 million (US$95 million) loss for 2013.

The Prenzlau manufacturer, which closed down its UK and Australian operations last month after missed sales targets, is pursuing an increasingly vain-looking search for a white knight investor after being cut adrift by parent company Bosch.

A deal which saw German rival Solar World purchase parts of Bosch’s solar business in November specifically excluded the aleo business.

And the investor search will not be helped by news the company expects to see 2013 revenues fall 55.5% on 2012, from €279.9 million to €124.5 million.

A brief statement from aleo added foreign business made up 56.9% of its revenue in 2013 and the final figures are set to be confirmed in the annual report, due on March 27.