aleo solar AG reports strong business in first quarter 2010

(PresseBox) ( Oldenburg, Prenzlau, )
aleo solar AG (ISIN: DE000A0JM634) today announced that it generated revenue of EUR 96.5 million in the first three months of 2010. This was a 215% increase compared to the same period last year (EUR 30.6 million). Earnings before interest and taxes (EBIT) amounted to EUR 11.5 million and earnings per share were EUR 0.64 (EUR -0.43).

"We expect the second quarter to be just as strong," said York zu Putlitz, CEO and CFO of aleo solar AG. "Since the amendment to the German Renewable Energy Sources Act calls for an additional stage of degression as of 1 July 2010, we expect demand to remain high in Germany due to the pullforward effects triggered by this." The international photovoltaic market is expected to pick up in the second half of the year.

aleo solar's production volume in the first quarter of this year was 60.1 megawatts (MW) (prioryear quarter: 11.3 MW). Full capacity production is possible because the company has optimised its production processes and manufactures around the clock in several shifts. "Premium modules manufactured using sophisticated technology and our own sales force give us a decisive competitive edge," Putlitz said. "With our sales network of more than 1,000 specialist dealers and installers and our 'aleo' brand, which has made a name for itself in the premium sector, we are well equipped to face the increased competition expected in the photovoltaic market."

aleo solar AG therefore confirms its guidance for 2010: Revenue will come to at least EUR 420 million, and aleo solar's aim is to achieve a comparatively solid EBIT margin. The company intends to progressively lift the proportion of revenue generated abroad. aleo solar expects to remain on a growth path in 2011. However, the company will only set itself concrete goals in the course of 2010, so as to be able to take general developments into account.
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