Although S.A.G. Solarstrom did not provide an update on forecasted revenue for 2010, the systems integrator guided revenue for 2011 at between €260 and €280 million and EBIT of between €16 and €18 million. Previously, S.A.G. Solarstrom had guided 2010 revenue to be between €190 and €201 million for the full-year. The expected higher revenue is due to several major PV projects to be completed this year, including a 48MWp project in the Venice area of Italy and a 23MWp rooftop installation in Germany. The company said it had installed 67MWp in 2010.
“We are very satisfied with the business performance in 2010 and we managed to complete all projects as planned” commented Dr. Karl Kuhlmann, CEO of S.A.G. Solarstrom AG. “Together with our partners, we installed systems with a total capacity of approximately 67 MWp which is almost double the total for 2009. The demand for monitoring and other services has also risen significantly in 2010.”
Despite concerns over market demand in Germany this year, S.A.G. Solarstrom has already diversified overseas and remains optimistic on further revenue growth in 2011
S.A.G. Solarstrom said that 2010 financial results would be published as planned on March 31, 2011.