systaic AG announced its 2008 sales exceeded the sum of €200 million, a six-fold increase from €31 million in 2007. This increase can be attributed to the construction of large-scale photovoltaic power plants, which hold a share of about 90%. Also reporting revenue increases were strategic business fields Energy Roof and Automotive.
SYSTAIC expects further growth in 2009, with a 30% increase to more than €260 million.
AG created a new subsidiary, Enerparc AG, in order to increase efficiency in the construction of large-scale solar power plants in the capacity range of more than 200 MW.
“By founding Enerparc AG, we are strengthening our market position in the project business,” stated Heiko Piossek, CFO of systaic AG. “With its experienced management team, our new subsidiary will focus on the market segment of large-scale solar parks. This step became necessary as systaic AG – due to its high-quality and on-schedule implementation of large solar power plants in Spain – is attracting growing interest from investors and project companies to build even bigger power plants.”
Enerparc AG has reached agreements with project partners for the construction of building-integrated solar power plants at a scale of 125MW. Enerparc will be constructing greenhouses in Sardinia with solar modules in the rooftops, thereby creating the largest building-integrated solar power plant in the world. This will provide the SYSTAIC group with a sales potential of approximately €450 million until the end of 2010. According to agreements with project partners, SYSTAIC will finance the power plants according to their state of construction, thereby allowing for careful liquidity management.
After systaic AG sold its power plants in Spain last year, an agreement was made with the banks to extend credit lines by €18 million, ensuring adequate financing of the SYSTAIC Group.