Premium Power reports 165% increase in 2008 financial results

Facebook
Twitter
LinkedIn
Reddit
Email

Premier Power Renewable Energy, Inc., a global leader in design, engineering and development in the US and European solar markets, announced the reports for 4Q08 and fiscal 2008.

The 2008 revenue totalled US$44.2 million, which is a 165% increase from the year before with gross profit margins at 12%, compared to 25.4% in 2007.  European sales were up 650%, mostly due to increased commercial rooftop sales, while those in the US grew over 100%, aided by the opening of a Southern California residential sales office.  With the financial crisis in effect globally, more customers are switching to cleaner, cost-efficient sources of energy, giving Premium Power an opportunity to take in plenty of revenue. 

This article requires Premium SubscriptionBasic (FREE) Subscription

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 net income for the fiscal year totalled at US$569,068 with US$793,383 on a pro forma basis including the minority interest in Spain acquired by Premier Power last year, down from 2007’s total of US$843,865. The company’s two new office openings and substantial growth affected the 2008 net income.

Premier Power finished 2008 having US$5.8 million in cash, an inventory of US$1.4 million, accounts receivable of US$4.7 million and accounts payable of US$3.7 million, which are all significantly below one-month levels.

Read Next

September 12, 2025
Colombian energy supplier Celsia is seeking more than US$1.2 billion in investment to build wind and solar generation projects in Peru. 
September 12, 2025
German trade association BSW-Solar has called the German government for a simplified, standardised and more digitalised grid access for solar PV and energy storage operators.
September 12, 2025
ACME Venus Urja has secured INR3.8 billion (US$43 million) to develop and construct a solar-plus-storage project in Barmer, Rajasthan.
Premium
September 12, 2025
Vote Solar's Sean Garren tells PV Tech Premium that Georgia Power's latest IRP is 'skewed so heavily towards fossil fuels'.
September 11, 2025
Founder Group has won a RM10 million (US$2.3 million) engineering, procurement, construction and commissioning contract for a 30MW solar plant in Malaysia.
September 11, 2025
German renewable energy developer ib vogt has signed a 70MW solar PV virtual power purchase agreement (vPPA) in Romania.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines