Better than expected revenue figures have been reported by aleo solar, though previously guided losses of €25-€30 million are still expected for the full-year 2011, according to the company. aleo solar had previously guided revenue to be in the region of €440 million but this has been raised to €462 million, down 17% compared to 2010 revenue of €554 million.
As previously reported, the expected loss was said to be primarily due to expenses related to cell supply contracts established through 2005 and 2008, which have since been cancelled and new price structures inline with market prices introduced.
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Although the company did not give a reason for the higher revenue guidance, aleo solar noted that overseas sales accounted for approximately 48% of revenue in 2011, suggesting 52% came from the German market, which experienced over 4GW of new installations in the fourth quarter of last year.
aleo solar noted that its 2011 annual report containing the final figures is expected to be published on 22 March 2012.
The company also announced that its chief sales officer, Norbert Schlesiger, resigned from his post on the Management Board of aleo solar at the end of 2011. The position is not to be filled immediately but the functions carried out by current Management Board members, the company said.