Phoenix Solar has amended its revenue expectations for its 2012 financial year with revenue expected to drop to between €150 and €170 million (US$194 to US$200 million) for the year.
Previous estimates by the company had its yearly consolidated revenue to range between €210 and €240 million (US$272 and US$310 million), but Phoenix Solar cited lower business volume and challenging sales in Eurozone countries leading it to re-evaluate its projected revenue earnings. The company did note that as a result of its restructuring, its loss before interest and taxes (EBIT) for the year will remain between €19 and €25 million (US$25 and US$32 million); a figure lower than 2011.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
The company further pointed out that current accounting shows its consolidated revenues for the first nine months of 2012 to total around €125 million (US$162 million). It plans to review its outlook for 2013, but currently expects revenues for next year to range between €280 and €310 million (US$362 and US$400million) with an EBIT between €-5 to €0 million.
Do you have an opinion on this article? Share your views with the industry on our Solar Power Portal LinkedIn group.
