aleo solar AG reports drop in revenue in the first quarter of 2013

(PresseBox) ( Prenzlau, )
aleo solar AG (ISIN: DE000A0JM634) today announced that it generated revenue of EUR 31.1 million in the first three months of 2013. This means that aleo solar's revenue decreased by 58.3% compared to the first quarter of 2012 (EUR 74.6 million). Earnings before interest and taxes (EBIT) came in at EUR -16.3 million (EUR -8.2 million), and the EBIT margin was -52.4 percent (-11.0 percent). Earnings per share amounted to EUR -1.35 (EUR -0.63).

Demand in many key European markets declined year-on-year and the erosion of prices continues to depress both revenue and margins. The decline in revenue was also due to extraordinary effects: in the previous year, the political debate on the Renewable Energy Sources Act in Germany had resulted in a surge of installed capacity to almost two gigawatts. Since the beginning of the year, the company has offered financing for photovoltaic installations in the United States with a total volume of USD 100 million. "We therefore feel we have good opportunities to expand our business in the US market," said York zu Putlitz, CEO of aleo solar AG. "We want to maintain or increase our market share in our European core markets. To do this, we continue to bank on the quality of our products and services. There is growing demand for our services as an advisor and systems provider in the photovoltaic business, which is growing ever more complex." Nevertheless, for the remainder of the year aleo solar AG expects demand to remain subdued, both in Germany and on the international markets.
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