- Pressemitteilung BoxID 60492
aleo solar AG increases revenue by 76.9% in H1 2008 to EUR 159.4 million - earnings per share more than doubled to EUR 0.60
Business in Germany continued to develop positively, with revenue growing 10.3% to EUR 65.4 million (H1 2007: EUR 59.3 million). International growth in the first half was extremely dynamic: 59.0% of revenue was generated abroad in the first six months of 2008. However, the Management Board expects that business in Spain will cool off temporarily. At the same time, aleo's business in Italy, Greece, Belgium and France is growing, while initial solar modules are also being supplied to countries such as Bulgaria and the Czech Republic. aleo solar AG's Management Board is reiterating its forecast that international revenue will account for around 40% of the Company's total revenue for full-year 2008. In addition, the passing of the new Erneuerbare-Energien-Gesetz (EEG - German Renewable Energy Act) has led to clarity in Germany, and thus to planning security being achieved at an early stage as from 2009.
The Annual General Meeting of aleo solar AG was held on 24 June 2008 at the Park Hotel in Bremen, Germany. 99.2% of the votes represented opted to use the net retained profits to expand the Company's capacity in Prenzlau, Santa Maria de Palautordera (Spain) and Gaomi (China). "Our strategy is paying off.", said Jakobus Smit, CEO of aleo solar AG, "The shareholders in attendance approved the establishment of more production capacity for more modules in more countries."
Total production capacity of 180 megawatts will be available by the end of 2008 (end of 2007: 100 megawatts).
The Company is reiterating its forecast for the year of revenue of at least EUR 330 million and a continued solid EBIT margin.
aleo solar AG
aleo solar AG, with sales operations in Oldenburg (Lower Saxony) and manufacturing facilities in Prenzlau(Brandenburg), was formed in September 2001 and produces solar modules using silicon cells. Its facility in Prenzlau has an annual capacity of 90 megawatts and is currently being expanded to 180 megawatts.
At the beginning of 2007, production also started in Santa María de Palautordera (Spain), with an annual capacity of 10 megawatts. The Company generated revenue of EUR 242.1 million in 2007. The aleo solar Group currently employs 623 staff. Since July 2006, aleo solar AG has been listed in the Frankfurt Stock Exchange's Prime Standard (DE000A0JM634). The Company's acquisition of a 19% equity interest in the Brandenburg-based technology enterprise Johanna Solar Technology GmbH has given it access to the promising future technique of thin-film technology. Since the beginning of 2008, aleo solar AG has also had a 50% equity interest in avim solar production Co. Ltd., a joint venture with Sunvim Group Co. Ltd. that is establishing a solar module production facility in China.
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