Just one small euro million below the half-billion euro mark was reported by Fronius for revenue in 2010. The Austrian inverter manufacturer grew sales by 52%, compared with the previous year. Although sales in the PV inverter segment were not given separately, 2010 was characterised as a record year for inverter sales by market research firms.
“This remarkable year is attributable to the global recovery in the automobile industry and the marked growth of many solar markets,” noted Otto Schuster, director of sales and marketing at Fronius.
Fronius also noted that it exported 94.9 % of its products in 2010 and has 17 international subsidiaries and sales partners/representatives in more than 60 countries.
The company is currently building a new facility for solar inverters in Canada.
“We expect strong second half figures for the Solar Electronics division, as the governments in key markets such as Italy and Germany have given the green light for new photovoltaic funding models,” added Schuster.
The first half of this year has been characterised by a 39% decline in inverter shipments in the first quarter, according to IMS Research.