aleo solar has generated revenue of €96.5 million in the first three months of 2010, which is a 215% increase in comparison to the €30.6 million in the same period of 2009. EBIT amounted to €11.5 million and earnings per share were €0.64 (€-0.43).
“We expect the second quarter to be just as strong,” said York zu Putlitz, CEO and CFO of aleo solar. “Since the amendment to the German Renewable Energy Sources Act calls for an additional stage of degression as of 1 July 2010, we expect demand to remain high in Germany due to the pull-forward effects triggered by this.”
aleo solar’s production volume in the first quarter was 60.1MW, up from the 11.3 MW in the same quarter of 2009. The company says that full capacity production is now possible as aleo has optimized its production processes and manufactures around the clock.
“Premium modules manufactured using sophisticated technology and our own sales force give us a decisive competitive edge,” Putlitz said. “With our sales network of more than 1000 specialist dealers and installers and our ‘aleo’ brand, which has made a name for itself in the premium sector, we are well equipped to face the increased competition expected in the photovoltaic market.”
aleo solar is therefore on track with its guidance for 2010. Expected revenue will reach at least €420 million, and the company aims to achieve a comparatively solid EBIT margin. It intends to progressively lift the proportion of revenue generated abroad and expects to remain on a growth path in 2011.