DGAP-News: Phoenix Solar Aktiengesellschaft / Key word(s): Final
Results
Phoenix Solar Aktiengesellschaft presents its final figures for the
financial year 2010
18.04.2011 / 07:30
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Phoenix Solar AG presents its final figures for the financial year 2010
Sulzemoos 18 April 2011 / Phoenix Solar AG (ISIN DE000A0BVU93), a leading
international photovoltaic system integrator listed on the German TecDAX,
is presenting its Annual Report 2010 today, together with its consolidated
financial statements for the financial year 2010, which have been audited
by the external auditor and ratified by the Supervisory Board. The company
closed the financial year 2010 with the highest revenues and the best
operating result in its history. It achieved consolidated revenues of EUR
635.7 million (+34.4 percent) and delivered earnings before interest and
taxes (EBIT) of EUR 36.4 million (+198.4 percent). The share of revenues
earned outside Germany came to 25.9 percent (+496.0 percent). A new
benchmark was also set for the sale of modules which totalled 313 megawatts
peak power (+55 percent).
Consolidated profit stood at EUR 24.1 million (+180.2 percent), with
earnings per share reaching EUR 3.44. Equity totalled EUR 142.4 million,
bringing the equity ratio to 45.5 percent. As per 1 January 2011,
consolidated orders on hand came to EUR 158.3 million. Of this amount, EUR
23.4 million was attributable to the Components & Systems segment and EUR
134.9 million to the Power Plants segment. Adjusted for power plant
projects already under construction, orders on hand stood at EUR 42.4
million.
Performance to date in 2011
The markets in Europe were very weak in the first quarter, in line with
expectations. The seasonal influence of winter slowed demand through
mid-February. Changes in solar energy market incentives also had a
dampening effect in Germany and France, which have yet to adjust to the new
market conditions. Uncertainty regarding market incentives in Italy brought
the market to a virtual stillstand, a situation which, however, is likely
to change upon the announcement of the new framework conditions expected at
the end of April. The Executive Board anticipates that demand in Europe
will recover in the second quarter. New orders for large power plant
projects, in France for instance, have already been placed.
In terms of revenues, the Executive Board expects stagnation or a marginal
increase in 2011, to be followed in 2012 by a stronger growth in revenues
and EBIT, with the associated continued profitable expansion of the Phoenix
Solar Group. In anticipation of an increasingly difficult environment in
the key market of Germany, the process of internationalisation will be
pursued with continued intensity. Moreover, Phoenix Solar expects its first
revenues from the USA in the current year.
Publication of the Annual Report
The Annual Report 2010 is to be published today, 18 April 2011, in
electronic form and can be downloaded from the company's website at
www.phoenixsolar.com under the heading Investor Relations, Financial
Reports.
This is an English translation of the German original. Only the German
version is binding.
Overview of the figures as per 31 December 2010
|[![CDATA[|[pre|]]]|]
2010 2009 Change
Volume MW 313 202 55 %
Total revenues EUR m 635.7 473.0 34.4 %
Components & Systems Segment EUR m 368.5 299.0 23.2 %
Power Plants Segment EUR m 267.2 174.0 53.6 %
International revenues EUR m 164.5 27.6 496.0 %
EBIT EUR m 36.4 12.2 198.4 %
Consolidated profit EUR m 24.1 8.6 180.2 %
Earnings per share EUR 3.44 1.28 168.8 %
|[![CDATA[|[/pre|]]]|]
About Phoenix Solar AG
Phoenix Solar AG, with headquarters in Sulzemoos near Munich, is a leading
international photovoltaic system integrator. The Group achieved total
revenues of EUR 636 million and an EBIT of EUR 36.4 million in the
financial year 2010. The company develops, plans, builds and takes over the
operation of large-scale photovoltaic plants and is a specialist wholesaler
for complete power plants, solar modules and accessories. The Group is a
leader in photovoltaic system technology. It focuses on the consistent
lowering of system costs. With a sales network throughout Germany, and
subsidiaries in Spain, Italy, Greece, France, Singapore, Malaysia, Oman,
Australia and the United States of America, the Group currently has a
workforce of more than 400 employees. The shares of Phoenix Solar AG (ISIN
DE000A0BVU93) are listed on the official market (Prime Standard) of the
Frankfurt Stock Exchange and on the German TecDAX, Deutsche Börse AG's
technology index.
End of Corporate News
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Language: English
Company: Phoenix Solar Aktiengesellschaft
HirschbergstraÃe 8
85254 Sulzemoos
Deutschland
Phone: +49 (0)8135-938-000
Fax: +49 (0)8135-938-099
E-mail: kontakt@phoenixsolar.de
Internet: http://www.phoenixsolar.de
ISIN: DE000A0BVU93
WKN: A0BVU9
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München (m:access), Stuttgart
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120328 18.04.2011
DGAP-News: Phoenix Solar Aktiengesellschaft presents its final figures for the financial year 2010
| Source: EQS Group AG