aleo solar AG increases revenue in the first nine months of 2010 to EUR 412 million and raises revenue forecast
"While the first six months of the year were dominated by pull-forward effects caused by the amendment of the Erneuerbare-Energien-Gesetz (German Renewable Energy Act - EEG) and correspondingly high revenue in our domestic market, in the third quarter over half of our revenue was generated outside Germany", said York zu Putlitz, Chief Executive Officer and Chief Financial Officer of aleo solar AG. "In view of the positive development of business in our European core markets, we are raising our 2010 revenue forecast to at least EUR 500 million, with a very solid EBIT margin." aleo solar AG had already raised its forecast for the current year once in July, when the Company announced that it anticipated revenue of at least EUR 480 million for the year as a whole instead of the EUR 420 million predicted previously.
Outside Germany, aleo solar AG recorded strong business in the first nine months of 2010, especially in the Mediterranean countries. Revenue in Italy almost doubled to EUR 61.4 million, while revenue in France increased more than tenfold to EUR 25.7 million. In Greece, revenue nearly tripled to EUR 14.4 million. During the first nine months of 2010, 28.8% of revenue was generated outside Germany and around 30% of revenue for the year as a whole is expected to be generated abroad.
About aleo solar AG
aleo solar AG produces and sells premium solar modules. It also provides whole solar systems to the global photovoltaic market. The company was founded in 2001 and has been listed in the Frankfurt Stock Exchange's Prime Standard since 2006 (DE000A0JM634). The aleo solar Group currently employs 867 staff. Its manufacturing facilities in Prenzlau (Germany) and two more production sites in Spain and China have an annual capacity of 250 megawatts. The company generated revenue of EUR 376 million in 2009.