After a slow start to its year of recovery and return to profitability, international PV integrator Phoenix Solar reported second quarter revenue 300% above the prior-year period, driven by its EPC business in the booming US market.
Phoenix Solar reported second quarter 2015 revenue of €34.8 million, compared to €4.9 million in the previous quarter.
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Its Power Plants segment generated to the majority of sales, accounting for 98.6% of second quarter revenue, while the delivery of PV modules was 33.9MW.
Tim P. Ryan, chief executive of Phoenix Solar said: “Reliable, sustainable and profitable growth – this is our target at Phoenix. The strong revenue growth of the second quarter of our 2015 financial year gives to indication of the direction the company is headed. Our broad sales push and improvements to the global sales process have already begun to bear fruit in driving top line growth.”
With bookings above 100MW, the company said it expected full-year revenue in the range of €140 million to €160 million and an EBIT of €1 million to €3 million.