Phoenix Solar Aktiengesellschaft / Preliminary Results/Final Results
13.03.2008
Release 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.
---------------------------------------------------------------------------
Phoenix Solar AG: preliminary figures for the financial year 2007
- Record year for sales and EBIT
- Share of international business in sales grows to more than 27 percent
Sulzemoos, 13 March 2007 / Phoenix Solar AG (ISIN DE000A0BVU93), a leading
international photovoltaic systems integrator, is releasing the preliminary
key data of its consolidated financial statements for the financial year
2007.
In the period from January to December 2007, the Phoenix Solar Group
generated sales revenues totalling EUR 260 million (2006: EUR 119 million),
which corresponds to an increase of 118 percent. Of this amount, EUR 129
million was attributable to the Components & Systems segment (2006: EUR
62.5 million) and EUR 131 million to the Power Plants segment (2006: EUR
56.4 million). Sales generated abroad came to EUR 70.4 million (2006: EUR
14.2 million), and were thus 396 percent higher. International business
rose to 27 percent in 2007, up from 12 percent in the previous year.
Earnings before interest and taxes (EBIT), which advanced to EUR 22.3
million (2006: EUR 4.8 million), are more than four times higher in a
year-on-year comparison. The EBIT margin (ratio of EBIT to sales) came to
8.6 percent in the financial year 2007 (2006: 4.0 percent).
In the reporting period, the provisional consolidated profit after tax
stood at EUR 14.5 million, up from EUR 3.0 million in 2006, which is an
increase of 383 percent. Based on 6,077,000 shares, earnings per share came
in at EUR 2.38 which is considerably higher than the previous years
figures of EUR 0.55.
In the fourth quarter of 2007 alone, the Group increased consolidated sales
by 138 percent to EUR 128 million as against the year-earlier figure of EUR
53.7 million. EBIT in the fourth quarter climbed 343 percent to EUR 13.3
million (2006: EUR 3.0 million), which corresponds to an EBIT margin of
10.4 percent.
As per 1 January 2008, orders on hand posted EUR 109 million and were thus
approximately ten times higher compared with the previous years figure of
EUR 11.3 million. Of this amount, around EUR 36 million was accounted for
by the Components & Systems segment and EUR 73 million by the Power Plants
segment.
In view of the fact that business has been developing well since the start
of the year, the Board of Directors will consider adjusting guidance for
the financial year 2008 after the quarterly figures as per 31 March 2008
have been released.
The Annual Report containing the complete 2007 consolidated financial
statements will be released on 24 April 2008, and can be downloaded from
the company website at www.phoenixsolar.com under the heading Investor
Relations, Financial Reports.
About Phoenix Solar AG
Phoenix Solar AG, which has its headquarters in Sulzemoos near Munich, is a
leading international photovoltaic systems integrator. Until June 2007, the
company, which was set up in 1999, went by the name of Phönix SonnenStrom
AG. The Phoenix Solar Group anticipates sales of significantly more than
EUR 300 million, generated in Germany and abroad, for the financial year
2008. Phoenix Solar AG plans, builds and operates large photovoltaic plants
and is a specialist wholesaler for complete power plants, solar modules and
accessories. The Group is a leader in photovoltaic systems technology. It
focuses on the consistent lowering of system costs. With a sales network
which covers the whole of Germany, and subsidiaries in Spain and Singapore,
as well as a participation in Italy, the Group currently has a workforce of
more than 160 employees. The shares of Phoenix Solar AG (ISIN DE000A0BVU93)
are listed on the official market (Prime Standard) of the Frankfurt Stock
Exchange. On 25 March 2008, the shares of the company will be admitted to
the TecDAX technology index of Deutsche Börse AG.
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 managements 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
Anka Leiner
Investor Relations
Hirschbergstraße 8
D-85254 Sulzemoos
Tel. +49 (0) 8135 938-315
Fax: +49 (0) 8135 938-399
a.leiner@phoenixsolar.de
www.phoenixsolar.de
Amtsgericht München HRB 129117
Ust-ID Nr. DE 812868419
DGAP 13.03.2008
---------------------------------------------------------------------------
Language: English
Issuer: Phoenix Solar Aktiengesellschaft
Hirschbergstraße 8
85254 Sulzemoos
Deutschland
Phone: +49 (0)8135-938-000
Fax: +49 (0)8135-938-099
E-mail: kontakt@phoenixsolar.de
Internet: http://www.phoenixsolar.de
ISIN: DE000A0BVU93
WKN: A0BVU9
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------------
DGAP-Adhoc: Phoenix Solar Aktiengesellschaft: preliminary figures for the financial year 2007
| Source: EQS Group AG