EANS-News: aleo solar AG aleo solar AG records a drop in revenue and negative
earnings in financial year 2011
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Annual Reports
Prenzlau/Oldenburg (euro adhoc) - aleo solar AG today published its 2011 annual
report, which confirms the preliminary figures announced earlier. Revenue
decreased by 16.6% to EUR 461.8 million (2010: EUR 553.5 million). The 2011
financial year closed with earnings before interest and taxes (EBIT) of EUR
-30.5 million (2010: EUR 43.0 million). The EBIT margin dropped to -6.6 percent
(2010: 7.8 percent) and earnings per share fell to EUR -2.47 (2010: EUR 2.41).
"The 2011 financial year saw an unprecedented level of price erosion in the
photovoltaic industry," said York zu Putlitz, CEO and CFO of aleo solar AG.
"Triggered by a global oversupply, prices for cells and modules fell massively.
We, too, were forced to reduce our selling prices by over a third in the course
of the year. This put considerable pressure on our revenue and margins and
prevented us from achieving the targets we had originally set for ourselves."
Earnings were also depressed by an extraordinary settlement of cell supply
contracts from earlier years.
In 2011 aleo solar AG again increased its module output in terms of production
and sales volume. Production surged to 303 megawatts (MW) from 267 MW in the
previous year, while the sales volume also rose to 297 MW (2010: 255 MW). aleo
solar AG generated almost half of its revenue (EUR 223.3 million) in
international markets. It added the United Kingdom, an important new market, to
its footprint, which already included Italy, France, Greece and Belgium,
countries in which aleo solar has been successful for many years. Outside
Europe, sales were particularly strong in the United States, Australia, Mexico
and Israel.
In 2012 aleo solar AG plans to increase sales again by fully utilising its
production capacity. Nevertheless, given the intense competition on the
photovoltaic market, earnings are expected to remain negative in 2012. aleo
solar´s revenue target for 2012 is at least EUR 440 million.
Further inquiry note:
Hermann Iding
Corporate Communications
Tel.: +49 (0)441-21988-390
E-Mail: Invest@aleo-solar.de
end of announcement euro adhoc
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company: aleo solar AG
Gewerbegebiet Nord, Marius-Eriksen-Straße 1
D-17291 Prenzlau
phone: +49(0)441 21988-0
FAX: +49 (0)441 21988-69
mail: invest@aleo-solar.de
WWW: http://www.aleo-solar.de
sector: Alternative energy
ISIN: DE000A0JM634
indexes: CDAX, Prime All Share, Technology All Share
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English