Germany-based project developer solarhybrid has posted revenue of €286 million in the first nine months of the year, generating a profit of €5.9 million. Third-quarter revenue was €181 million, noting revenue momentum in the second half of the year and an EBIT of €6.9 million.
solarhybrid said that it had a strong project pipeline through the end of the year, which included PV power plants in Finowfurt (FinowTowerII), Cottbus-Drewitz, Fürstenwalde, Allstedt and Werneuchen.
Full-year sales guidance is expected to exceed €400 million and EBIT of at least €15 million.
The project developer noted that business growth was expected to continue into 2012 as the project pipeline recently acquired from Solar Millennium in the US as well as promising markets in South Africa and the Middle East start to develop. According to the company, established markets of Germany and Italy would also contribute to the expected growth.