Solarstrom posts growing numbers for third quarter

SAG Solarstrom has announced their third quarter results and posting strong numbers. Consolidated group sales over the first nine months totaled €76.5 million (previous year: €64 million), with sales of €44.8 million in the third quarter contributing to this increased number. The overall earnings before interest and tax (EBIT) figured amounted to €2 million, rising from the €1.1 million from the previous year. This increase also shows that the EBIT increased over nine months to €2.4 million from €2.1 million last year.

When speaking of the full-year forecast, CEO Dr. Karl Kuhlmann (pictured) said, “All large-scale projects are on schedule and will be connected to the grid in December, barring unforeseen delays caused by bad weather. Looking at the current level of incoming orders and the progress we are making in the projects, we expect to improve on the third quarter result in the next quarter. We are therefore confident of achieving our sales and earnings targets for the year.”

Project planning and construction sales grew from €26 million last year to €46.1 million in this past nine month period with an EBIT of -€270,000 (previously €1.1 million). The partner sales unit showed an increase in profits in spite of the fall of sales of €22.8 million from €31.6 million in the first three quarters. The EBIT was increased to €74,000 from €51,000 last year, coming out with an EBIT of €501,000 in the third quarter with sales of €12.6 million.

The plant operation and services sector increased EBIT from €382,000 to €749,000 with sales being reported at €5.7 million from €4.7 million last year. In just this third quarter, sales showed an increase of 39.4% to €2.1 million year-on-year from €1.5 million.
Solarstrom is attributing the slight rise in sales, €1.9 million this year from €1.8 million last year, to the levels of solar irradiation and ongoing installations in the power production unit. EBIT increased to €1.8 million from €540,000.

Kuhlmann concluded his remarks with, “Solid planning, controlling, risk management, sales strength and reliability have enabled S.A.G. to remain on course in what has been a turbulent year to date. The growth surge witnessed in the third quarter demonstrates the sustainability of our profitability-oriented corporate policy.”