aleo solar AG lifts revenue in the first six months of 2010 to EUR 277 million

11.08.2010 - Press Release

aleo solar AG (ISIN: DE000A0JM634) today announced that it generated revenue of EUR 277.0 million in the first six months of 2010. This means that aleo solar's revenue increased by 134.5% compared with the first six months of 2009 (EUR 118.1 million). Earnings before interest and taxes (EBIT) amounted to EUR 29.3 million and the earnings per share were EUR 1.68 (EUR -0.27).

“We benefitted from extraordinary demand, as was the case in the first quarter of the year,” said York zu Putlitz, CEO and CFO of aleo solar AG. “The amendment of the German Renewable Energy Act led to pull-forward effects.” aleo solar AG also posted revenue growth outside Germany, with revenue on the international photovoltaic markets rising to EUR 49.4 million in the first six months of 2010 (EUR 31.1 million). This puts the proportion of revenue generated abroad at 17.8%.

The production volume in the first half of this year was 132.8 megawatts (38.6 MW). “Actual production thus exceeds our nominal annual capacity of 250 MW,” underlines zu Putlitz. “Our three plants have responded flexibly to the growth in demand and optimised their manufacturing process.” The plants also produce around the clock in several shifts.

Germany’s photovoltaic market is expected to become steadier as the year progresses. Strong demand is also being recorded in the other European core markets, which means that aleo solar AG will be able to cater better to the international markets in the second half of the year.

aleo solar AG confirms its expectations for 2010: Revenue will come to at least EUR 480 million, and aleo solar's aim is to achieve a solid EBIT margin. The company intends to progressively lift the proportion of revenue generated abroad. aleo solar AG will only set itself concrete goals for 2011 in the course of 2010, so as to be able to take general developments into account.