EANS-News: aleo solar AG
aleo solar AG increases revenue in the first nine
months of 2010 to EUR 412 million and raises revenue forecast
Prenzlau/Oldenburg (euro adhoc) -
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quarterly report
aleo solar AG (ISIN: DE000A0JM634) today announced that it generated revenue of EUR 412.1 million in the first nine months of 2010. This means that aleo solar's revenue increased by 86.6% compared with the first nine months of 2009 (EUR 220.8 million). Earnings before interest and taxes (EBIT) amounted to EUR 40.3 million (previous year: EUR 0.3 million) and the earnings per share were EUR 2.29 (previous year: EUR -0.15). Total production volume amounted to 187.4 megawatts (previous year: 78.4 MW).
"While the first six months of the year were dominated by pull-forward effects caused by the amendment of the Erneuerbare-Energien-Gesetz (German Renewable Energy Act - EEG) and correspondingly high revenue in our domestic market, in the third quarter over half of our revenue was generated outside Germany", said York zu Putlitz, Chief Executive Officer and Chief Financial Officer of aleo solar AG. "In view of the positive development of business in our European core markets, we are raising our 2010 revenue forecast to at least EUR 500 million, with a very solid EBIT margin." aleo solar AG had already raised its forecast for the current year once in July, when the Company announced that it anticipated revenue of at least EUR 480 million for the year as a whole instead of the EUR 420 million predicted previously.
Outside Germany, aleo solar AG recorded strong business in the first nine months of 2010, especially in the Mediterranean countries. Revenue in Italy almost doubled to EUR 61.4 million, while revenue in France increased more than tenfold to EUR 25.7 million. In Greece, revenue nearly tripled to EUR 14.4 million. During the first nine months of 2010, 28.8% of revenue was generated outside Germany and around 30% of revenue for the year as a whole is expected to be generated abroad.
end of announcement euro adhoc
Further inquiry note:
York zu Putlitz
CEO/CFO
Tel.: +49 (0)441-21988-770
E-Mail: Invest@aleo-solar.de
Branche: Alternative energy
ISIN: DE000A0JM634
WKN: A0JM63
Index: CDAX, Prime All Share, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade