In the first half of SAG Solarstrom’s 2010 fiscal year earnings, the company has shown a large improvement, which has the company highlighting their growth targets they set for the year and their plans for international expansion. Earnings before interest (EBIT) are at €4.5 million where at the same time last year the EBIT was at €0.4 million. Sales for the first six months have totalled at €85 million, an increase from last year of €31.6 million during the same period. Solarstrom’s consolidated profit adds up to €2.2 million.
Although all of the company’s business areas have shown growth, the project planning and plant construction and partner sales sectors have seen the largest increase in profits. Project planning and plant construction sales came out to €46.6 million with an EBIT of €1.4 million. The same period last year saw this segment of Solarstrom at €16.6 million in sales and an EBIT of -€1.3 million.
Partner sales reached an EBIT of €1.8 million, where areas at the same time last year they were at -€0.4 million. Sales amounted to €29.8 million, a large increase from last year’s €10.3 million. Plant operation and services sales doubled to €7.2 million with an EBIT of €1.1 million while power production showed a slight rise in profits to €1.4 million from €1.2 million last year.
“The fact that we continued to develop our foreign markets and did not attempt to exploit all potential opportunities in Germany will pay off in the second half of the year“, said Dr. Karl Kuhlmann (pictured), CEO of Solarstrom. “We are therefore very confident of achieving our forecast for the whole year of between €190 and €210 million sales with an EBIT of between €8 and €11 million“.