In a brief market update, aleo solar said that it expected losses in 2011 to be in the range of €25-€30 million. The PV module manufacturer had reported an EBIT profit of €7.4 million, with an EBIT margin of 2.2% for the first 9-months of the year.
aleo solar said that a significant part of the expected losses was due to expenses related to cell supply contracts established through 2005 and 2008.
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New supply agreements are in place, according to the company that better reflect market prices. aleo solar is publishing full business results at the end of March 2012 with the annual report for 2011.
