Phoenix Solar Aktiengesellschaft / Key word(s): Development of Sales
23.10.2012 17:52
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Phoenix Solar AG revises revenue expectations for 2012; earnings
expectations affirmed; outlook under review
Sulzemoos 23 October 2012 / Based on preliminary figures for the third
quarter of its financial year 2012 (30 September 2012), Phoenix Solar AG
has revised its revenue expectations downward to between EUR 150 and 170
million for the current year. The company had previously anticipated
consolidated revenues of EUR 210 to 240 million. The main cause of the
lower volume of business was the problematic sales situation in the
eurozone countries where uncertainty about the development of the economy
and about the further promotion of photovoltaics in the summer resulted in
considerable reticence on the part of investors.
Thanks, however, to the successful restructuring of the company the loss
before interest and taxes (EBIT) expected in the current year will not be
greater than the figure recently released and will therefore be
significantly lower than in 2011. As indicated, it will be between EUR 19
and 25 million.
The current status of accounting at the end of the quarter shows that the
company generated consolidated revenues of around EUR 125 million in the
first nine months of the current financial year, resulting in a loss before
interest and taxes of approximately EUR 18 million.
The outlook for the new financial year will be reviewed in the process of
drawing up the annual accounts and planning for 2013. The sustainability of
the signs of an upswing in the business of the subsidiaries in important
countries will need to be validated. Phoenix Solar AG has so far released
the following figures for the financial year 2013: consolidated revenues of
between EUR 280 and 310 million and an EBIT ranging from EUR -5 to 0
million.
This is an English translation of the German original. Only the German
version is binding.
Disclaimer
The content of this press release is solely for information purposes and is
not intended to constitute a recommendation for investment or a
solicitation to subscribe or an offer to buy or sell securities of the
company. Phoenix Solar AG shall undertake no liability whatsoever for any
loss in connection with this press release or the information made
available. This also applies particularly to any eventual loss in
connection with the shares of Phoenix Solar AG.
This document contains forward-looking statements on future developments
which are based on management's current assessment. Words such as
'anticipate', 'assume', 'believe', 'estimate', 'expect', 'intend',
'can/could', 'plan', 'project', 'forecast', 'should', and similar terms are
indicative of such forward-looking statements. Such statements are subject
to certain risks and uncertainties which are mainly outside the sphere of
influence of Phoenix Solar AG, but which have an impact on the business
activities, the success, the business strategy and the results. These risks
and factors of uncertainty include, for instance, climatic change, changes
in the state subsidisation of photovoltaics, the introduction of competitor
products or technologies of other companies, the development of the planned
internationalisation of business activities, fierce competition as well as
rapid technological change in the photovoltaic market. If one of these or
other factors of uncertainty or risks should occur, or if the assumptions
underlying the statements should prove incorrect, the actual results may
diverge substantially from the results in these statements or implicit
indications. Phoenix Solar AG does not have the intention nor will it
undertake any obligation to realise forward-looking statements on an
ongoing basis or at a later point in time as this is entirely dependent on
circumstances prevailing on the day of their release.
In some countries, especially in the United States of America, the
dissemination of this press release and the information contained therein
may be restricted or prohibited under the law. This press release is
therefore expressly not intended for persons resident in the United States
of America or any other legal system under which such an offer or
solicitation is not permissible, or for persons for whom such an offer or
invitation would constitute a breach of the law.
Contact:
Phoenix Solar AG
Dr. Joachim Fleing
Investor Relations Representative
Hirschbergstrasse 8
85254 Sulzemoos
Germany
Tel.: +49 (0)8135 938-315
Fax: +49 (0)8135 938-399
j.fleing@phoenixsolar.de
www.phoenixsolar-group.com
Local Court of Munich HRB 129117
Ust-ID Nr. DE 812868419
Board of Directors: Dr. Andreas Hänel (CEO), Dr. Bernd Köhler, Dr. Murray
Cameron
Head of Supervisory Board:
J. Michael Fischl
Contact:
Phoenix Solar AG
Dr. Joachim Fleing
Investor Relations Representative
Hirschbergstrasse 8
85254 Sulzemoos
Germany
Tel.: +49 (0)8135 938-315
Fax: +49 (0)8135 938-399
j.fleing@phoenixsolar.de
www.phoenixsolar-group.com
Local Court of Munich HRB 129117
Ust-ID Nr. DE 812868419
Board of Directors: Dr. Andreas Hänel (CEO), Dr. Bernd Köhler, Dr. Murray
Cameron
Head of Supervisory Board:
J. Michael Fischl
23.10.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Phoenix Solar Aktiengesellschaft
HirschbergstraÃe 8
85254 Sulzemoos
Germany
Phone: +49 (0)8135-938-000
Fax: +49 (0)8135-938-099
E-mail: kontakt@phoenixsolar.de
Internet: www.phoenixsolar-group.de
ISIN: DE000A0BVU93
WKN: A0BVU9
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Hannover, München (m:access),
Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: Phoenix Solar Aktiengesellschaft: Phoenix Solar AG revises revenue expectations for 2012; earnings expectations affirmed; outlook under review
| Source: EQS Group AG