Solarstrom posts growing numbers for third quarter

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email

SAG Solarstrom has announced their third quarter results and posting strong numbers. Consolidated group sales over the first nine months totaled €76.5 million (previous year: €64 million), with sales of €44.8 million in the third quarter contributing to this increased number. The overall earnings before interest and tax (EBIT) figured amounted to €2 million, rising from the €1.1 million from the previous year. This increase also shows that the EBIT increased over nine months to €2.4 million from €2.1 million last year.

When speaking of the full-year forecast, CEO Dr. Karl Kuhlmann (pictured) said, “All large-scale projects are on schedule and will be connected to the grid in December, barring unforeseen delays caused by bad weather. Looking at the current level of incoming orders and the progress we are making in the projects, we expect to improve on the third quarter result in the next quarter. We are therefore confident of achieving our sales and earnings targets for the year.”

Project planning and construction sales grew from €26 million last year to €46.1 million in this past nine month period with an EBIT of -€270,000 (previously €1.1 million). The partner sales unit showed an increase in profits in spite of the fall of sales of €22.8 million from €31.6 million in the first three quarters. The EBIT was increased to €74,000 from €51,000 last year, coming out with an EBIT of €501,000 in the third quarter with sales of €12.6 million.

The plant operation and services sector increased EBIT from €382,000 to €749,000 with sales being reported at €5.7 million from €4.7 million last year. In just this third quarter, sales showed an increase of 39.4% to €2.1 million year-on-year from €1.5 million.
Solarstrom is attributing the slight rise in sales, €1.9 million this year from €1.8 million last year, to the levels of solar irradiation and ongoing installations in the power production unit. EBIT increased to €1.8 million from €540,000.

Kuhlmann concluded his remarks with, “Solid planning, controlling, risk management, sales strength and reliability have enabled S.A.G. to remain on course in what has been a turbulent year to date. The growth surge witnessed in the third quarter demonstrates the sustainability of our profitability-oriented corporate policy.”

28 September 2021
Solar Solutions International is the largest trade show for solar energy in Northwest Europe. Now the solar market has grown up, it's time for the next step. Solar Solutions International displays more than 500 innovations and over 100 practical seminars concerning the latest in energy storage, smart products, and an ever evolving array of solar panels. As an exclusively B2B trade show, Solar Solutions International offers both exhibitors and visitors the chance to network at the highest level. Duurzaam Verwarmd, the largest trade show for sustainable HVAC technology in the Benelux, is held simultaneously. This way your one visit gets you up to date with all of the developments in both sustainable energy and heating.
6 October 2021
Intersolar Europe is the world’s leading exhibition for the solar industry. It takes place as part of The smarter E Europe – the continent’s largest platform for the energy industry. Under the motto “Connecting solar business,” manufacturers, suppliers, distributors, service providers and project planners and developers from around the world meet in Munich every year to discuss the latest developments and trends, explore innovations firsthand and meet potential new customers.
6 October 2021
The future is bright for a new era of US solar and storage, and the 8th annual Solar & Storage Finance Summit will provide opportunities to discuss solutions to the industry’s challenges and provide a networking platform designed to bring together the top minds in the industry to do business. With a mix of high-level, informative presentations and panels, a stellar cast of speakers and audience members with deal-making capacity, the 2021 edition of the event will be a sell-out success.
6 October 2021
Join this free webinar to hear Martin Green, Scientia Professor, University of New South Wales explain the physical and technological limits for PERC cells and the potential efficiency advantages of TOPCon, HJT and IBC: - How much further can PERC efficiency be pushed? Has it run out of puff or is it just getting started? - The relative merits of TOPCon, HJT and IBC cell variants - The manufacturing technologies that need to be optimised for each of these cell variants (This is the keynote presentation from PV CellTech Online, 25th August 2021)
18 October 2021
Intersolar South America, South America’s largest exhibition and conference for the solar industry, takes place at the Expo Center Norte in São Paulo, Brazil on October 18–20, 2021, and has a focus on the areas of photovoltaics, PV production and solar thermal technologies. At the accompanying Intersolar South America Conference, renowned experts shed light on hot topics in the solar industry.
19 October 2021
This year’s EV World Congress will hold a special role, not only as the first live EverythingEV event in over a year – a chance to renew your connections and re-engage with the EV sector face to face – but also as a chance to share insight and inspiration as world starts to look towards move on post COVID towards hitting ambitious decarbonisation goals in 2030 and beyond. As ever, we will be bringing world leading organisations, cities, and technology providers to the UK to inspire EV innovators, and delve into the challenges facing the sector as the UK looks to revolutionise road transport.

Read Next

September 28, 2021
Renewables developer and asset manager RES has secured planning permission for a 65.5MW floating solar project that will be installed at a former quarry in northeastern France.
September 28, 2021
Investment manager Quinbrook Infrastructure Partners has acquired a 350MW solar-plus-storage site expected to be the largest single site PV install in the UK once completed.
September 28, 2021
Oil and gas company Chariot has signed a memorandum of understanding with the government of Mauritania to progress with a solar- and wind-powered green hydrogen complex in the country.
PV Tech Premium
September 28, 2021
Toni Weigl, head of product management for floating PV at BayWa r.e., explores the current trends for designing and developing floating solar projects and poses the question, where next for floating PV?
September 28, 2021
The Australian Renewable Energy Agency (ARENA) has launched an AU$50 million (US$36 million) programme to support microgrid pilot projects and improve the reliability of electricity supply across regional Australia.
September 28, 2021
Indian solar manufacturer Premier Energies has secured an INR 2 billion (US$27 million) investment from private equity firm GEF Capital Partners to support its planned increases in cell and module production.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 6, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021
Solar Media Events
October 19, 2021
Solar Media Events
December 1, 2021