Phoenix Mecano anticipates impairment loss of approximately €6-8 million

Facebook
Twitter
LinkedIn
Reddit
Email

 

Technology company active in the production of enclosures and industrial components, Phoenix Mecano, has announced an impairment of tangible and intangible assets in its ELCOM/EMS division effective December 2012. With the cancellation of a long-term framework supply contract for PV components with a major customer, Phoenix Mecano anticipates an impairment loss of approximately €6-8 million.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The company is now required adjustments to its 2012 forecast. Whereas the Group had previously expected to generate an operating result (EBIT) at the lower end of the €43-53 million range, it now anticipates an EBIT for 2012 in the €32-37 million range.

Phoenix Mecano insists that the impairment will have no impact on the group’s cash flow and will not there affect its ability to pay dividends.
 

Read Next

May 30, 2025
Independent power producer (IPP) Aquila Clean Energy has started construction on a 52MW agrivoltaics (agriPV) project in Italy.
May 30, 2025
The US added 7.4GW of new renewable energy capacity in the first three months of 2025, with deployments and planned projects concentrated in Republican-voting states.
May 30, 2025
Solar and wind curtailment have increased by 29% between 2023 and 2024 in California, according to the US Energy Information Administration.
May 30, 2025
Companies delayed or cancelled US$14 billion in investments in clean energy projects in the US in the first four months of this year.
May 30, 2025
Waaree Solar Americas – a subsidiary of Indian solar manufacturer Waaree Energies – has signed a 586MW solar module supply agreement with an undisclosed independent power producer (IPP).
May 30, 2025
Spanish independent power producer (IPP) has unveiled two new solar-plus-storage projects, one in Central Chile and the other in Spain.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 17, 2025
Napa, USA
Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 8, 2025
Asia