aleo solar reports weaker quarter sales and higher losses

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Following its full-year 2013 guidance, German-based PV module manufacturer, aleo solar provided preliminary first quarter sales of approximately €31.1 million and an expected EBIT loss of approximately €31.1 million 16.3 million.

The company had reported 2012 revenue of €279.9 million and a loss of €77 million.

The lower sales and margins in the first quarter were attributed to decreased demand in its key European markets such as Germany.

York zu Putlitz, Chief Executive Officer and Chief Financial Officer of aleo solar, said, “Our customers remain loyal to us and continue to rely on the aleo quality. The photovoltaic business evolves into a smaller installations market again. Therefore, demands for our services and solutions as a solar system provider are especially high.”

The company claimed that despite the sales weakness, it had managed to increase its market share in Germany from 1.37 to 1.6% in the first quarter of 2013, noting that in March alone its share increased by 2.46% compared to the same month in the prior year period.

The gain in share was not explained, though there has been a well documented shift by Chinese module producers away from supplying into the EU before a decision is made by the EU Commission on anti-dumping.
 

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