PV Crystalox Solar sees 384MW of shipments in 2011, but lower revenue

March 28, 2012
Facebook
Twitter
LinkedIn
Reddit
Email

After announcing last October that it was halting polysilicon production at its German facility and cutting wafer jobs in the UK, it is perhaps no surprise that PV Crystalox Solar has posted some rather dreary numbers for 2011. Group revenue was €210.4 million, 17% lower than 2010, due to what the company stated was the effect of lower average selling prices. EBIT, before exceptional items, was €4.1 million, a 1.9% margin. The company did note that shipment volumes of 384MW were reached in 2011, compared to 378MW in 2010.

The company saw charges of €71.6 million in 2011, which stem from a €27.9 million impairment charge for its polysilicon facility at Bitterfeld, a €22.9 million inventory write down and a €20.9 million write down in relation to “difficult contracts with external suppliers.” Loss after taxes was finalized at €60.9 million, but PV Crystalox advised that it had kept positive net cash position of €22.6 million.

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 board advised that due to continued difficult market conditions during the first three months of this year, it will not declare a dividend. However, it acknowledged that dividends are important to shareholders and the directors will review the potential to reestablish dividends based on future performance and prospects.

Read Next

October 31, 2025
Solar Media Market Research looks into the the Section 232 ruling in the US, tackling the questions that need to be understood.
October 31, 2025
US independent power producer (IPP) Treaty Oak Clean Energy has signed two environmental attribute purchase agreements (EAPA) with social media and data giant Meta.
October 31, 2025
US thin-film module manufacturer First Solar has unveiled plans to build a new 3.7GW manufacturing plant in the US in 2026.
October 31, 2025
Australia's solar and energy storage sectors delivered transformative performance during the third quarter of 2025, with grid-scale solar generation reaching 1,699MW average output while battery systems expanded capacity by 2,936MW since Q3 2024.
October 31, 2025
Acen Australia has committed to recycling around one million solar modules from its 400MW Stubbo solar PV power plant in New South Wales.
October 30, 2025
Scatec posted development and construction (D&C) revenues of NOK1,760 million (US$175.1 million) in the third quarter of this year.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 12, 2025
10am PST / 1pm EST
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany