COLEXON Energy AG: Significant increase in turnover and earnings in the first half of 2008
- Increase in turnover by 91 per cent to 56.6m Euro
- EBIT quadruples to 3.0m Euro
COLEXON Energy AG, one of the leading system integrators for turnkey solar power plants, today publishes its report on the first half year of 2008. Due to the expected strong demand for on-roof solar power plants, the company could realise considerable growth in turnover and result in the first six months. Thus, the group turnover of COLEXON Energy AG increased by 91 per cent from 29.6m Euro in the previous year period to now 56.6m Euro. Even more significant was the disproportionately high increase resulting earnings: EBIT rose from 0.75m Euro in the previous year period to 2.96m Euro in the first half of 2008 and thus quadruplicated. Thus, EBIT margin improved to 5.2 per cent. Net income of the period also improved considerably from 0.1m Euro to 1.36m Euro.
On the record date 30th June 2008, several large-scale projects of COLEXON were under construction, among those the world's largest thin-film on-roof system with 4.64 MWp power.
From these large orders that were not finished by the end of the first half year results a negative operating cash flow of -4.2m Euro (previous year period: -2.6m Euro). This is due to an increase in working capital, which is characteristic for the project business. These ongoing projects will probably be finished during the current business year and therefore fully affect this year's results.
The results achieved as well as the full order book prove from COLEXON Energy's point of view that the focus on thin-film technology as well as on large roof-top solar power plants for institutional investors and roof owners is the right strategy. The Executive Board thus confirms the guidance to achieve turnover of 110m Euro as well as an EBIT of 6m to 8m Euro in the business year 2008.
The complete half-year report will be published during the day on the company's website for download at http://www.rpse.de/....
7C Solarparken AG
COLEXON Energy AG has specialised in the development of commercial photovoltaic plants. The operative subsidiaries plan and develop turnkey solar power plants for commercial and institutional investors in Germany and world-wide. The company focuses on the technical engineering of the solar power plants as well as on the project management.
COLEXON Energy AG is listed in the Prime Standard at the German Stock Exchange in Frankfurt.