During the first eight months of the current fiscal year, Solar Millennium AG has further pursued its strict course of growth.
DE0007218406) has further pursued its strict course of growth. In the first eight months of the current fiscal year (November 1, 2006 to June 30, 2007), sales revenues have increased by approximately 33.5 % to € 11.01 million, compared to the first eight months of the preceding fiscal year (€ 8.25 million). After tax deductions, this amounts to € 1.71 million during the period under review, compared to € 4.58 million during the same period of the preceding fiscal year. This represents a profit of € 0.17 per share during the period under review. In contrast to the preceding year, all revenues from sales of power plant company shares will only be reflected in the budget for the last quarter of the current year. Solar Millennium continues to expect the predicted profits of € 12 million during the current fiscal year.
In particular, these sales revenues result from the project development and technology business sectors. Thanks to the completion of the financing of the solar thermal power plant project Andasol 2, a turnover could finally be generated from this project development. Additional sales revenues were achieved by the Flagsol GmbH technology subsidiary, which is providing the engineering and control components for the Andasol 1 solar field, the first parabolic trough power plant in Europe.
Solar Millennium Chairman of the Board, Christian Beltle: “We are pursuing a clear strategy for further growth. We are expanding our business sectors and increasing the number of projects to achieve greater regularity of the generated turnover and results, so that we can also make a more accurate comparison of interim results over the fiscal year.”
The interim report for Solar Millennium AG according to IFRS dated June 30, 2007, can be downloaded at www.SolarMillennium.de.
About the technology:
Solar thermal power plants generate electricity using heat energy captured from solar radiation. In a parabolic trough power plant, trough-shaped mirrors concentrate the sun rays onto a pipe in the focal line of the collector. Their absorption causes a heat transfer fluid to be heated in the pipe, generating steam in the power block by way of heat exchange. As with conventional power stations, the steam is utilized in a turbine to generate power; by integration of thermal storage, this power can then be supplied on demand. Thus, solar power plants can also generate electricity after sunset.
Solar Millennium AG
Solar Millennium AG, Erlangen, is a globally active company in the renewable energy sector, with its main focus on solar thermal power plants. Solar Millennium
specializes in parabolic trough power plants – a reliable, proven technology in which the company is a worldwide leader. The company covers all important business sectors of the value-added chain for solar thermal power plants, from project development to technology and the turn-key construction of power plants, to the operation and ownership of power plants. In Spain, Solar Millennium developed Europe’s first ever parabolic trough power plants, two of which are already under construction. Further projects are planned with a capacity of several hundred Megawatts are located worldwide, with the focus upon Spain, the USA, China and North Africa. The company is also developing solar chimney power plants, with the aim of making this technology ready for the market.