Ralos New Energies AG / Final Results
28.04.2010 09:08
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Ralos New Energies AG (formerly BGI EcoTech AG) has published its 2009
annual report
- Preliminary information dated April 6, 2010 confirmed
- Unchanged 2010 guidance: Sales approx. EUR 180 million and EBIT above
EUR 10 million
- Medium term sales target of EUR 500 million confirmed
- Ralos business only moderately affected by German feed-in tariff
reduction
Griesheim, 28. April 2010: The German PV-Systems company Ralos New Energies
AG has today published its 2009 annual report. Preliminary figures
published April 6, 2010, have been confirmed. Sales were EUR 82 million.
Exceptional expense relating to the integration of the Ralos (EUR 4.1
million), to revaluations of balance sheet items (EUR 3.1 million), to
start-up expense (EUR 0.4 million) as well as the annual goodwill write
down required under German GAAP (EUR 5.1 million) have led to consolidated
pre-tax loss of EUR 16.6 million. Adjusted for the above mentioned effects
EBIT was minus EUR 1.6 million. Previous year German GAAP numbers do not
compare well due to the consolidation of the Ralos acquisition on October
1, 2008.
Due to the high order book of above EUR 40 million and the strong
international projects pipeline Ralos expects sale in 2010 to be around EUR
180 million and EBIT to be above EUR 10 million. In 2011 these values
should be higher still. A major impact on Ralos numbers is the strong
presence in the German and in international markets. Exceptional expense is
no longer expected.
The company expects to be only moderately affected by the reduction of
German feed-in tariffs. In the German Small Systems market demand appears
to be exceptionally strong in the second quarter in view of the reductions
and after harsh weather conditions in the first quarter. As a pure system
integrator, the company will continue to source its components globally and
cost effectively after the feed-in tariff reductions. The return on
investments of PV systems should therefore remain attractive for German
clients. The company therefore expects demand to remain strong in the
German Small Systems market.
In the Global Large Projects Market the company expects a strong decline in
the German market after October 1, 2010, due to the termination of feed-in
tariffs. Before that conditions should be favorable. The international
markets should overcompensate this development though as legislations in
various countries is starting to have an effect. In these markets the
company is particularly well positioned with a project pipeline of more
than 80 MWp in Italy, in the Czech Republic and in the Middle East.
'After a harsh winter we see strong demand in our German residential market
since March. Our order book here is EUR 30 million, much higher than the
previous year value of EUR 5 million. In our Global Large Projects business
we have positioned ourselves well in key markets and our project pipeline
is more than 150 MWp. We are therefore reconfirming our medium term sales
target of EUR 500 million', said Albert Klein, CEO of Ralos New Energies
AG.
The Management Board
The 2009 annual report of Ralos New Energies AG will be available now on
http://ralos.de/de/investor/finanzberichte/.
About Ralos New Energies AG:
Ralos New Energies AG (formerly BGI EcoTech AG) specialises in the growth
market of regenerative energies, particularly photovoltaics. The company,
which was founded in 1990, is a management holding company. With
subsidiaries and distributors in Germany, Austria, Spain, Italy, Canada,
Czech Republic and Dubai, Ralos is represented in the most important and
potentially fastest growing international markets. Ralos Vertriebs GmbH,
one of Europe's leading systems solutions providers in the field of
photovoltaics, is the company's most important holding.
The company develops, plans, builds and operates innovative photovoltaics
plants, ranging from private solar electricity systems to large-scale
high-output plants of all sizes for industrial clients.
Company contacts:
Registered address:
DieselstraÃe 12
64347 Griesheim
Mailing address:
Pfungstädter Str. 100a
64297 Darmstadt
Tel.: +49 (0)6151 95165-0
Fax.: +49 (0)6151 95165-20
info@ralos-new-energies.com
www.ralos-new-energies.com
Investor Relations-Contact:
GFEI Aktiengesellschaft
Hamburger Allee 26-28
60486 Frankfurt am Main
Tel.: +49 (0) 69 74 30 37 00
Fax: +49 (0) 69 74 30 37 22
ralos-new-energies@gfei.de
www.gfei.de
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Language: English
Company: Ralos New Energies AG
Kuhbergstr. 28
34131 Kassel
Deutschland
Phone: +49 (0)561-93 87 70
Fax: +49 (0)561-93 87 744
E-mail: info@ralos-new-energies.com
Internet: www.ralos-new-energies.com
ISIN: DE0005203004
WKN: 520300
Listed: Freiverkehr in Berlin, Stuttgart; Entry Standard in Frankfurt
End of News DGAP News-Service
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DGAP-News: Ralos New Energies AG (formerly BGI EcoTech AG) has published its 2009 annual report
| Source: EQS Group AG