aleo solar AG reports H1/2007 figures and lifts forecast
H1/2007: revenue EUR 90.1 million (+61.9), of which 34.20% generated abroad: production output: 38.2 MW (+66.9%)
The increased forecast is based on the continuing high demand for solar modules. Revenue climbed by 61.9% in the period from 1 January to 30 June 2007, to EUR 90.1 million (H1/2006: EUR 55.7 million). The proportion of international revenue amounted to 34.2%. EBIT totalled EUR 6.0 million (H1/2006: EUR 6.1 million), resulting in an EBIT margin of a solid 6.7%. The Company increased its production output to 38.2 MW (H1/2006: 22.9 MW). Earnings per share totalled EUR 0.27 (H1/2006: EUR 0.28).
Business in Germany continues to be marked by sustained high demand. International growth was stronger than expected, with the increased marketing and sales activities starting to bear fruit. The Spanish market reacted to the opening of aleo solar’s own factory near Barcelona and the establishment of a sales organisation in Spain by placing corresponding orders. In Italy, aleo solar AG has seen a significant increase in new orders following the passing of simplified legislation in February. As a result, 34.2% of total revenue was generated outside Germany in the period up to the end of the first half of 2007; the corresponding figure was 5.1% during the prior-year period.
aleo solar AG
aleo solar AG, with sales operations in Oldenburg (Lower Saxony) and manufacturing facilities in Prenzlau (Brandenburg), was formed in September 2001 and produces solar modules using silicon cells. Its facility in Prenzlau has an annual capacity of 90 megawatts, which will be increased to 170 megawatts by the end of 2008. At the beginning of 2007, production also started in Santa María de Palautordera (Spain) with an annual capacity of 10 megawatts. The Company generated revenue of EUR 242.1 million in 2007 with 555 employees. Since July 2006, aleo solar AG has been listed in the Frankfurt Stock Exchange's Prime Standard (DE000A0JM634). The Company's acquisition of a 19%
equity interest in the Brandenburg-based technology enterprise Johanna Solar Technology GmbH has given it access to the promising future technique of thin-film technology. Since the start of 2008, aleo solar AG has also held a 50% interest in avim solar Co. Ltd., which is a joint venture with the Sunvim Group Co. Ltd. for the construction of a solar module production plant in China.