aleo solar AG (ISIN: DE000A0JM634) today announced that it generated revenue of EUR 31.1 million in the first three months of 2013. This means that aleo solar's revenue decreased by 58.3% compared to the first quarter of 2012 (EUR 74.6 million).
Earnings before interest and taxes (EBIT) came in at EUR –16.3 million (EUR –8.2 million), and the EBIT margin was –52.4 percent (–11.0 percent). Earnings per share amounted to EUR –1.35 (EUR –0.63).
Demand in many key European markets declined year-on-year and the erosion of prices continues to depress both revenue and margins. The decline in revenue was also due to extraordinary effects: in the previous year, the political debate on the Renewable Energy Sources Act in Germany had resulted in a surge of installed capacity to almost two gigawatts. Since the beginning of the year, the company has offered financing for photovoltaic installations in the United States with a total volume of USD 100 million. “We therefore feel we have good opportunities to expand our business in the US market,” said York zu Putlitz, CEO of aleo solar AG. “We want to maintain or increase our market share in our European core markets. To do this, we continue to bank on the quality of our products and services. There is growing demand for our services as an advisor and systems provider in the photovoltaic business, which is growing ever more complex.” Nevertheless, for the remainder of the year aleo solar AG expects demand to remain subdued, both in Germany and on the international markets.
aleo solar AG closes first quarter of 2013 with EBIT of EUR –16.3 million / Positive trend in German market share18.04.2013 | Corporate News
aleo solar AG [ISIN: DE000A0JM634] will close the first quarter of the year 2013 with an EBIT of approximately EUR –16.3 million (first quarter 2012: EUR –8.2 million) based on preliminary calculations. The turnover amounts to approximately EUR 31.1 million (first quarter 2012: EUR 74.6 million).
aleo solar AG [ISIN: DE000A0JM634] today published its 2012 annual report, confirming the preliminary revenue of EUR 279.9 million announced earlier, which represents a decline of 39 percent compared to the previous year (EUR 461.8 million).
aleo solar AG today was informed by its majority shareholder Robert Bosch GmbH that Bosch intends to withdraw from the solar energy market and therefore will be disposing of its stake in aleo solar AG. Bosch currently holds a 90.7% stake in aleo solar. Independently of this sale, Robert Bosch GmbH has assured aleo solar AG of financing until the end of March 2014.
aleo solar AG produces and distributes premium solar modules and systems for the international photovoltaic market. Since 2009, the Bosch Group has owned a majority of the company (DE000A0JM634), which was originally founded in 2001 and has been listed on the stock exchange since 2006. The premium manufacturer currently has aapproximately 900 employees and is represented in the key photovoltaic markets all over the world. The aleo solar group has an annual production capacity of 280 megawatts at its plant in Prenzlau, Germany. The company generated a turnover of € 279.9 million in 2012.
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