aleo solar announces third quarter results

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For the first nine months of 2009, aleo solar has posted revenue of €220.8 million. Even though this is a drop from the first nine months of 2008 (€256.2 million), the company is still hopeful that it will reach its planned sales targets. aleo also posted a positive EBIT of €0.3 million, which shows the trend reversal that the company achieved in the second quarter.

“Deliveries picked up significantly in the course of the year,” said Uwe Bögershausen (pictured), member of the management board and CFO of aleo. “At just under 83 megawatts, deliveries of aleo modules are up 12% on the prior-year figures. The trend reversal is proving to be sustainable because our high order backlog stretches into the first quarter of the coming year.”

The EBIT includes impairment losses on inventories of finished goods that totaled around €10 million, accentuating aleo’s flexible cost structures. Earnings per share were €-0.15 compared to a previous €0.94 while production output totaled 78.4MW, down from 95.8MW.

Although the company believes that solar module prices have more than likely bottomed out for this year, they are still finding it difficult to accurately predict the revenue that their planned sales target will achieve by the end of this year. aleo still intends to further its growth in 2010 and will focus on international work to generate around half of its revenue outside of Germany for the medium term.

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