aleo solar Reports Revenues Of EUR30.6 Million For Q1 2009

Published: 14-May-2009

By: Staff Writer Staff Writer Staff Writer

aleo solar AG (aleo solar), a Germany-based company engaged in manufacturing and selling solar modules, has reported revenues of EUR30.6 million for the first quarter of 2009, compared with the revenues of EUR69 million in the year-ago quarter. It has also reported earnings before interest and tax (EBIT) of negative EUR4.8 million for the first quarter of 2009, compared with the EBIT of EUR5 million in the year-ago quarter.

Earnings per share declined to EUR -0.43 (EUR 0.26). Production output was

11.3 megawatts (29.7 megawatts).

Owing to the persistently gloomy macroeconomic climate, the unusually long and hard winter – particularly in Germany – and the expected collapse of the Spanish market, the number of new installations declined overall in the first quarter“, explains Uwe Bogershausen, member of the management board and chief financial officer of aleo solar. As far as the rest of the year is concerned, Bogershausen is confident: the healthy level of new orders illustrates the consistently high level of interest in the premium solar modules from aleo and, in turn, the appeal of making substantial investments in photovoltaics. Sales operations in existing photvoltaic markets are boosted to guarantee maximum customer proximity at local level thanks to the aleo power network. Recent developments in strong growing markets like the US have also spelt good news for aleo solar.

The company is reiterating its forecast for the year of revenue of at least EUR380 million.

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