aleo solar AG generates annual revenue of EUR 462 million in 2011
As previously announced, aleo solar AG expects to have closed financial year 2011 with negative earnings of EUR 25 to 30 million. In addition to rapidly declining module prices, this is essentially due to the extraordinary settlement of delivery contracts with a cell supplier dating back from 2005 to 2008. "The prices that were fixed for the agreement running until 2019 are more in line with the market", said York zu Putlitz, CEO of aleo solar AG.
Effective 31 December 2011, the company's previous Chief Sales Officer, Norbert Schlesiger, resigned from his post on the Management Board of aleo solar AG in agreement with the Supervisory Board. The Supervisory Board thanks Mr Schlesiger for many years of successful service to the company. There are no plans at this point to appoint someone else to this position. Instead, the related tasks will be assumed by the current Management Board members.
The 2011 annual report containing the final figures is expected to be published on 22 March 2012.
About aleo solar AG
aleo solar AG produces and distributes premium solar modules and systems for the international photovoltaic market. Since 2009, the Bosch Group has owned a majority of aleo solar AG (DE000A0JM634), which was originally founded in 2001 and has been listed on the stock exchange since 2006. As a premium manufacturer with 1002 employees, aleo solar maintains a strong global presence with subsidiaries active in all important photovoltaic markets. Its main plant in Prenzlau, Germany and two additional plants in Spain and China provide the aleo solar group with an annual production capacity of 390 megawatts. In 2011, the company's turnover amounted to € 462 million.