Diversification in both business segments and on a regional basis proved successful for Portugal-based Martifer Solar which said its revenue increased 33% to €293.2 million in 2011. Unlike some of its rivals, the company also posted positive EBITDA of €20.1 million and a net profit of €9.5 million. The company noted that was the fourth consecutive year of positive financial results.
“The presented results confirmed our expectations for 2011 and reinforce our confidence in the compliance with the strategic goals for 2013, Martifer Solar believes that its fast execution and its ability to adapt to an industry in constant change will allow it to achieve a leadership position in the PV market”, stated Mr. Henrique Rodrigues, CEO of Martifer Solar.
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Martifer Solar said that key sales geographies in 2011 were France, Italy, USA, Portugal and Belgium, which supported growth in its of turnkey PV construction segment and PV projects business as well as its distribution business, via subsidiary, MPrime.
