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SOLON AG increases revenues by 112% for first half of 2008

SOLON AG has released details of its first-half financial revenues, showing an increase of 112% over 2007’s figure for the same time period. First-half revenues rose to €410.6 million for 2008 from €193.7 million for 2007, while the company’s total operating performance for the period increased by 110% to €446.9 million. Overall, the company produced 84MWp of modules in the period.

Earnings before interest and tax amounted to €31.5 million, while net income after minority interests rose by 103% to €17.9 million. The company also noted that over 80% of the SOLON Group’s revenues came from countries outside of Germany.

Employee levels for this period reflected the company growth, showing a 44% increase in staff numbers over the tally in June 2007. A total of 863 staff are currently employed by the Group. The complete report is available here.

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